Head of Credit Risk, iwoca
Germany
£125-160k
+ Share options
1-3 days a week in office
Online loans for small businesses
Open for applications
Online loans for small businesses
201-500 employees
Open for applications
£125-160k
+ Share options
1-3 days a week in office
201-500 employees
Company mission
To give small business owners a great experience while getting the finance they need.
Role
Who you are
- Strong analytical background: a degree in Mathematics, Physics, Engineering, or similar quantitative field; or equivalent experience
- 7+ years experience in credit risk and lending strategy optimisation at a traditional or Fintech lender
- Passion for analytical problem-solving, with a strong track record in developing conceptual frameworks and technical execution. This will include the ability to personally conduct data-driven analysis and guide this work through others
- Experience using Python is a plus
- Excellent understanding of the statistical techniques and machine learning methods used in credit risk analysis and modelling. Guiding the work of data scientists is an important part of this role
- Excellent communication, stakeholder management, and leadership skills
- Strong commercial instincts
- Experience of the German lending market, SME lending, and German language skills are all beneficial
What the job involves
- We are looking for an experienced Head of Credit Risk with a strong analytical background, to lead the credit risk function for our lending portfolio in Germany
- You will work closely with the Chief Credit Officer, the General Manager for Germany, our data scientists, and teams from across the business to ensure our risk management frameworks, scorecards, and lending strategies are effectively managing credit risk while maximising value creation
- Within your broad remit, responsibilities include:
- Being the responsible expert on all things related to credit risk management
- Driving informed decision-making to set credit risk appetite appropriately for the economic conditions and iwoca’s business plan
- Developing credit risk management policies and control frameworks, and actively managing adherence
- Setting the credit risk agenda aligned to the business strategy, and providing strong leadership to the credit risk team to drive its delivery
- Monitoring credit performance on aggregate and by segment. Proactively driving corrective action where required
- Driving improvements to credit risk scorecards, associated scoring processes, and data infrastructure
- Providing credit risk expertise to support product development when launching new features, e.g. longer terms, interest only, etc
- Supporting the capital markets team by providing credit risk expertise to ensure funding vehicles are set up to provide sufficient capacity, flexibility, and resilience at an appropriate cost
- Communicating with equity and debt investors as required around loan book credit performance
Our take
UK SME's are the backbone of a complex economy that is constantly changing, so the need for fast and responsive access to finance is becoming more and more important to ensure their success and growth. iwoca allows SMEs access to business loans in less than a minute, with its API and business marketplace partnerships.
With offerings like iwoca's, gone are the days where waiting up to eight weeks for a loan decision was viable. Its simplified business loans of £1,000 - £500,000 come with no fees attached, and applying online takes no more than five minutes. The ready availability of iwoca loans gives business owners a level of certainty, so that they can make instant decisions to help their business grow.
iwoca has made a number of partnerships with other players in the business finance space, including an impressive industry-first invoice checkout integration with QuickBooks. Funding raised by the company, which is now operating at net profitability, will enable it to meet a recent surge in demand for corporate loans. The company has made several billion in funding available to over 100,000 businesses since launching, positioning itself as a leading European fintech.
Steph
Company Specialist at Welcome to the Jungle
Insights
Some candidates hear
back within 2 weeks
33% female employees
-2% employee growth in 12 months
Company
Employee endorsements
Opportunities to learn
"Great opportunities available to learn from both individuals through shadowing, and teams through presentations and even secondment opportunities -..."
Funding (last 2 of 7 rounds)
Aug 2019
$13.2m
GRANT
Feb 2019
$26.3m
SERIES D
Total funding: $95.4m
Company benefits
- Flexible working across all teams.
- Twice a year we rent houses in places like Sicily and the French Alps where each team can work together for a week poolside.
- Share options after six months.
- Comprehensive health insurance and cash plans.
- Gym discounts and weekly yoga classes.
- Each floor of iwoca HQ has a fully stocked fridge for breakfast.
- Enhanced maternity and paternity leave for new parents plus a nursery benefit.
- Unlimited unpaid leave.
- The time and budget to invest in your professional development.
Company values
- Motivated: Going to work shouldn't feel like a slog, so we want everyone in the team to personally care about what they're working on. We stay motivated by celebrating our wins, learning from our mistakes, and always looking for new gaps to step into.
- Smart: At iwoca being smart isn't about what you know, it's about how you think. Smart thinking means looking at each problem by asking ‘why’ first, then figuring out ‘how’.
- Humble: We know all ideas are flawed, all code has bugs, and everyone makes mistakes - it’s how we learn. For us, being humble means you question yourself first, rather than your team.
- Growth Mindset: We think there's always a better way to solve a problem. So we never let ourselves get comfortable with being good enough.
Company HQ
Fitzrovia, London, UK
Articles
Leadership
Christoph Rieche
(CEO)7 years of experience in finance, most recently as a VP at Goldman Sachs.
James Dear
(Head of Systems & Numbers)Previously a VP at Deutsche Bank. Has a PhD in Physics from King's College London.
People progressing
Joined as a Customer Onboarder, moved into the Broker Team and has most recently been promoted to Partnerships Manager.
Salary benchmarks
We don't have enough data yet to provide salary benchmarks for this role.
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Diversity, Equity & Inclusion at iwoca
- We work hard to make iwoca a place where everyone feels welcome, where you can confidently be yourself. We understand that diversity isn't an optional add-on, it's the core ingredient of what makes us great.
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