Senior Quantitative Credit Analyst

About the job

Job title: Senior Quantitative Credit Analyst

Location: Based in our Dalston office with flexibility to work from home

Reporting to: Chief Risk Officer

Contract: Permanent, part-time (4 days)

Salary: £45,000 per annum FTE (pro-rata for 4 days: £36,000 per annum)

Role Purpose:

Fair Finance is building out its capabilities in credit risk and analytics as it sees this as critical to achieving its business goals. This Senior Quantitative Credit Analyst role is our first internal analytics role, working directly with the CRO with the goal of taking the credit risk function to the next level.

Fair Finance has recognised the importance of data analytics to understand better its customers and improve all customer-related decisions. We now have a wealth of data available, including historical loan performance data, credit bureau data, and Open Banking data. We have used credit scoring for many years and have been innovating in this field, for example being one of the first organisations to use Open Banking data in our credit scoring models.

As the Senior Quantitative Credit Analyst, you’ll generate insight from complex data, using your quantitative skills. You’ll be directly involved in recommending actions, designing, and implementing new strategies to drive our credit risk and acquisition targets. You’ll also sit right next to our operations and marketing teams, allowing you to fully understand the business and have impact quickly.

This role would ideally suit a credit or data analyst who has been working as part of a bigger team within the consumer credit sector and would now like greater autonomy, variety and learning opportunities. You will be excited about becoming the sole credit analyst for an impactful and fast-moving social business that is preparing to grow rapidly. You will do more than just crunch the numbers; you will be instrumental in helping us improve our processes, find efficiencies and make better decisions. You will also relish the opportunity to work in a values driven organisation which has a strong company culture focused on staff wellbeing and development and encourages collaborative team working.

About Fair Finance:

Fair Finance is a social business with ambitious plans to revolutionise financial services to give everyone a Fair chance. Our vision is to scale our alternative to the high-cost lending market and help reduce financial exclusion across the UK.

Over the last eighteen years Fair Finance has helped over a hundred thousand people escape the clutches of high-cost money lenders, start businesses or avoid eviction. Our work has helped influence Government policy and legislation, as well as demonstrate how purpose and profit can work together to change the financial system for the better.

The last few years of the pandemic and the Cost-of-Living crisis have really highlighted the importance of our work, and as such we are embarking on an ambitious program of growth and expansion to meet the challenges facing some of the poorest and most excluded in the coming years.

Key Responsibilities:

• Develop, manage, and maintain a suite of risk reports required by senior management to oversee credit risk and portfolio quality.
  
• Lead on monitoring scorecard performance and policy rules.
  
• Analyse reporting data and present insight to senior management on performance.
  
• Make recommendations, design, and test new strategies to improving our credit and acquisition performance.
  
• Make recommendations, design, and test new strategies to automate lending decisions or improve operational efficiency.
  
• Support our credit scorecard development process.
  
• Lead on credit change initiatives as required, for example, embedding additional data sources, designing a new affordability methodology or feature engineering using Open Banking data.
  
• Lead on implementing strategies in our IT systems, working with our IT team.
  
• Any other duties as required by the Company that are commensurate with the position.
  

Skills and Experience:

• At least 3 years of experience as a credit or data analyst in the UK consumer credit sector.
  
• A good understanding of credit risk concepts and experience implementing change in risk strategies.
  
• Strong numeracy skills, a good understanding of statistics and machine learning concepts.
  
• Confident with coding for data analysis: existing knowledge or can upskill quickly on SQL and Python.
  
• Strong Microsoft Excel skills.
  
• Knowledge of UK consumer credit regulations.
  
• Good communication skills and ability to create relationships at many levels.
  
• Ability to multi-task and deliver on several projects under time constraints.
  
• An ability to work flexibly and within an entrepreneurial environment.
  
• An understanding or working experience of credit scoring model development would be advantageous but not essential.
  

Why work for Fair Finance?

• We believe in employing, growing and buildingaround exceptional people who share our values.
• We will give you the environment where you cangenuinely put clients before profits and make a difference in our clients’lives.
• We will provide you with a supportiveworkplace surrounded by peers who want you to do well, with responsibilityto make a real difference in the organisation and the opportunity tothrive and make the role your own.
• We are a diverse organisation full of peoplewho understand the balance between achieving business objectives and oursocial mission.
• Our Head Office is in a shared workspace inDalston, housing more than 300 creative businesses, social enterprises andcharities.
• Hybrid working and work practice flexibilityis offered.
• Annual holiday entitlement of 25days in addition to public holidays (prorated for part-time working hours).
• A day off for your birthday.
• Private Health Care.
  
• 3% matching contribution towards a stakeholder pension.
  

Successful applicants will be contacted and interviewed on a rolling basis, so do apply early if you think you'd be a great fit for Fair Finance.

For an informal discussion about the role in advance, please get in touch at [email removed - click apply for more details].