Chief Marketing Officer – LendingClub

COMPANY OVERVIEW

LendingClub (NYSE: LC) was founded in 2007 under the belief that a technology and data-driven marketplace can improve the way people access and invest in credit, creating value for both sides. Since then, the company has helped millions of Americans take control of their debt, pursue their dreams, and invest in their future – all in a fair, transparent, and affordable way. Today it’s the world’s largest online credit marketplace and the largest provider of personal loans in the United States, facilitating billions of dollars in loans annually, primarily to help Americans eliminate high interest, revolving credit card debt and other unhealthy debt). The company is leading the governance of a new industry by developing ethical, responsible ways to bring greater value and better opportunities to help members. Everyone deserves a better financial future and the team is committed to making that a reality.

THE POSITION

Title: Chief Marketing Officer

Reports To: President

THE ROLE

Position Overview:

LendingClub grew since its inception by focusing primarily on prospecting. Each day, more than 40,000 Americans come to LendingClub looking for help, for the most part looking to escape unhealthy debt: that’s 15 million visitors per year. A core part of the company’s growth strategy is shifting from “Visitor to Member,” focusing on converting more of those visitors to engaged members, deepening relationships and driving lifetime value by helping members build upon that first critical step of attacking the unhealthy debt, and take advantage of subsequent actions to improve their financial health.

The CMO will have the opportunity to re-build a consumer brand and build a “Financial Health Club” membership ecosystem that will provide compelling value to members motivated to improve their financial health. We expect increasing the value to membership will continue to drive increased engagement, loyalty and retention. Given the position LendingClub has in the market today, this individual will have a powerful impact in driving brand awareness and in turn, drive a significant percentage of company revenue.

The CMO will also own the marketing strategy and execution across all channels (direct mail, email social, display, and SEM/SEO), with an annual marketing budget in excess of $250m. LendingClub is one of the leading direct response (digital and direct mail) marketing companies in the US today, with direct response currently accounting for most of the $250m+ marketing spend. The CMO will be responsible for evolving our marketing strategy in a way that shifts from mostly-direct-response to more multi-channel, integrated marketing anchored by an increasingly strong brand.

The successful candidate will have accountability for creating and implementing a customer-first mindset and a strategy that focuses on helping existing members improve financial health, while continuing to drive new member acquisition

Responsibilities:

* Be the primary “member” champion, consistently providing a perspective within the company about current customers and how promotion of offers that help members improve their financial health will improve that customer’s perceived membership value

* Position a brand and build equity while having an appreciation for direct marketing and current P&L drivers.

* Create vision of, own and drive global brand strategies that effectively build brand awareness, perceived brand quality and overall set the LC brand ahead of its competitors.

* Define and test new marketing strategies for reaching new and existing LendingClub audiences.

* Own relationships with repeat members focusing on cross-sell of lending and future non-lending products designed to help members improve their financial health.

* Present a roadmap for evolving allocation of large marketing budget that supports near-term P&L targets as well as long-term company objectives.

* Build strategies and oversee optimization and measurement of consumer acquisition and cross-sell initiative.

* Guide the execution of direct mail and email; provide leadership to CRM initiatives.

* Develop a coherent and integrated approach to digital consumer marketing – ensuring common frameworks/approach to planning and budgeting, core processes, metrics, performance criteria and key capabilities are in place and optimized.

* Communicate the effectiveness of marketing programs in a consistent (quantitative and qualitative) way to the executive team.

* Lead LendingClub’s marketing tech stack required for scaling digital marketing.

* Grow digital presence and continue to vet and roll out new technology and tools to improve activities.

* Assess and evaluate marketing activities through analysis and presentation to the business.

* Explore and identify necessary data sources to expand our targeting abilities.

* Establish customer retention and loyalty strategies for return borrowers.

* Work cross-functionally with credit, strategy, and pricing on future product development.

* Coach and mentor marketing talent, ensure growth and development of leading-edge skills are attained along with rigorous adoption of performance management standards.

Professional Qualifications:

* Bachelor’s Degree in Business, Marketing or related field required; MBA a plus.

* 15+ years total work experience. 10+ years of experience in senior level management in the consumer product industry (consumer credit industry a plus).

* Experienced brand and omni-channel marketer (digital, direct, etc).

* Advanced experience working with a variety of traditional and modern marketing and communications functions including: branding and messaging to different target audiences.

* Deep knowledge of customer loyalty.

* Must have a passion regarding customer service (internal and external) and delivery/execution.

* Strong leadership skills, visionary, with a business-minded approach, able to move from the big picture/ strategic perspective to the important details while maintaining perspective.

* Experienced leader of senior-level marketing teams.

* Resourceful and creative in approach; able to work with a blank sheet of paper as well as able to make skillful use of data and analytics.

* Passion and conviction for their ideas and proposals – a collaborator with first-rate communication and influencing skills.

* Ability to work in partnership in a matrixed organization and achieve positive results.

* Highly skilled in the recruitment, development and management of top tier talent.

* Highly self-motivated and objective driven. Will be keen to apply strategic vision and marketing acumen to a highly challenging role.

* Energetic, roll-the-sleeves up, enthusiastic, results-oriented manager.

* Possesses and exhibits a high level of integrity; embraces and evangelizes the company’s goals, core values, vision and quality focus.

FOR MORE INFORMATION PLEASE CONTACT

Deb Ryan – debryan@bonellryan.com