Credit Analyst

We started in 2012, when we noticed a problem: on average, it was taking eight weeks (and a lot of paperwork) for small businesses to apply for a loan. Worse still, more often than not, that process was ending in a ‘no’.

We knew that bakeries, building firms, salons, and solicitors deserved better. They deserve to be able to grow – hire more hands, invest in stock, market themselves – without all the hold music and absurdly rigid criteria.

We’ve now been around for a decade, and in that time, we’ve:

• grown to a team of 290 iwocans
• worked with over 50,000 small businesses across the UK and Germany
• redesigned the whole business loan process from start to finish – our record is three minutes, 26 seconds.

It’s a good start, but it’s just the beginning. Our mission is help one million businesses who need us, so we still have a long way to go.

Here’s what we’ve learned about lending along the way

• Technology is the way to change this space

From automated decisions to API integrations, tech has the potential to create the changes small businesses have been waiting for – so we can’t stop innovating.

• Embedded finance is the future

More and more, we’re reaching customers by embedding our loans within the apps and systems they use everyday. Our partners are people like neobanks, online marketplaces and accountancy software companies.

• Payments and credit are converging

Lots of small businesses struggle with cash flow; often getting invoices paid from their customers months after paying their own bills. Loans can help them pay these bills, but we also want to tackle the problem at its root by improving payment terms.

• New products are always possible

We’re working to create new loans of all shapes and sizes, and we’ve recently launched iwocaPay to help with these cash flow conundrums.

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.

Requirements

Our team of UK based Credit Analysts are responsible for making lending decisions for each of the small businesses that approach iwoca.We’re now looking to extend the function to our offices based in India:

A typical day for you will include:

• Analysing credit data, bank statements, financial statements and other data sources to determine the level of risk involved in lending.
• Conducting thorough due diligence to ensure affordability of credit in line with internal policy.
• Understanding and accurately capturing the specific revenue and risk drivers for SMEs.
• Being actively involved in improving the decision making framework, through developments to our systems and processes.
• Communicating effectively with our UK Based Onboarding and Account Management teams to ensure customer needs are met at all times.
• Working closely with the UK-based manual credit analysis team, as well as the team of data scientists who manage and refine our automated decision engine, in order to improve our overall decisioning capabilities.

We look for people that are smart, humble, motivated and who are always looking to improve. Ideally, you’ll have:

• 2-5 years experience in commercial loan underwriting, credit sanctioning or credit analysis, within UK SME Lending.
• Strong business acumen and a working understanding of what makes a good business good.
• A good understanding of how businesses operate, including their main risk and revenue drivers.
• The ability to interpret financial statements to evaluate business performance.
• An analytical mindset with a practical approach to problem solving.
• A confident and enthusiastic attitude that works well in a regularly changing and fast paced environment.
• Excellent written and verbal English skills, in order to engage effectively with teams in the UK on a daily basis.

Benefits

• Special celebrations for anniversaries
• Plenty of drinks and snacks in our office kitchen