Responsibilities
- Build the ISA underwriting model — default probability by borrower profile, income trajectory assumptions, and loss-given-default curves — without credit bureau data
- Set income-share rates and repayment caps by borrower cohort
- Stress-test the portfolio against macroeconomic shocks, default clustering, and income interruption events
- Structure the warehouse debt facility — tranche sizing, loss triggers, investor reporting
- Define the path to ABS securitisation at scale
- Lead regulatory classification of the product under BaFin and AFM consumer credit frameworks
- Co-own the company as a founding team member
Requirements
- Part-qualified or fully qualified actuary (SOA, IFoA, or DAV) — or equivalent depth in structured credit, consumer lending, or quantitative risk
- Hands-on experience building credit scorecards, PD/LGD models, or pricing models — not just studied them
- Comfort underwriting thin-file or no-file borrowers — emerging-market or migrant lending experience is a strong differentiator
- Working knowledge of structured finance mechanics: waterfalls, tranching, loss absorption, warehouse facilities
- Founder mindset — you want to build, not maintain
Nice to Have
- emerging-market or migrant lending experience is a strong differentiator
Benefits
- Greenfield category — not many comparable ISA products for this market in Europe
- Cofounder equity + reasonable comp
- Structural collection advantage that no standalone lender can replicate
- Direct path to ABS and institutional debt capital at scale
