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Data Scientist - Repeats

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iwoca

2mo ago

  • Job
    Full-time
    Mid & Senior Level
  • London

AI generated summary

  • You should possess strong problem-solving skills in stats, data manipulation proficiency, project management abilities, and a relevant PhD or industry experience. Bonus for Python and credit risk knowledge.
  • You will lead data-driven innovations, design experiments, analyze customer journeys, improve predictive models, and refine lending strategies to optimize decision-making and profitability.

Requirements

  • Essential:
  • Ability to dive deep into the business context and translate data into actionable insights.
  • Strong problem-solving skills in probability and statistics.
  • Proficiency with data manipulation and modelling tools, e.g. pandas, statsmodels, R.
  • Self-driven with the capability to efficiently manage projects end-to-end.
  • A PhD in a relevant numerate discipline or previous experience in solving business problems in industry with statistics or machine learning techniques.
  • Bonus:
  • Python experience (we mostly work in Python).
  • Experience with experimental design and Bayesian analysis.
  • Experience with modelling credit risk or other topics in mathematical finance (e.g., pricing).

Responsibilities

  • As a Data Scientist in the Repeats team, you will lead data-informed innovation in our lending products. You'll design thoughtful experiments and precisely measure opportunities to shape the future of our customer experience and product offerings.
  • Work closely with the Repeats team lead, and the Tech leads to identify and quantify opportunities within the customer journey, based on past data or modelled assumptions.
  • Design experiments to compare the performance of different strategies and evaluate them rigorously to make unbiased decisions.
  • Share your findings and modelling with the wider business to impact our strategy. We live and breathe data as a company, so Data Scientists have a key role in the decision-making.
  • Own our monitoring and data pipelines, covering all aspects of existing customers' user journey, and getting us the correct data to make decisions.
  • Lead the move away from rule-based policies towards machine learning approaches, to improve predictive accuracy and optimise decision-making.
  • Join our community of Analysts/Data Scientists/Statisticians to ensure alignment in methodology across iwoca and discuss best practices or the latest advances.
  • Promote analytical rigour within the team, ensuring that our experimental designs are correctly defined and that we evaluate tests without bias.
  • Develop an acute understanding of the Repeat customers funnel, knowing what fields to use to understand how customers evolve in our complex environment.
  • Independently build data science solutions and statistical models to solve our business problems, with full responsibility in the solution design.
  • Refine our affordability strategy. Being able to lend more without increasing our losses has a direct impact on iwoca’s profitability.
  • Using data from previous experiments, you will be able to evaluate the performance of our current strategy, identify some improvements, and design further experiments to keep optimising this key aspect of our lending strategy.
  • Improve our docs requirements. The credit risk team is developing several models to make credit decisions, based on different levels of documents we require.
  • One project will be to optimise the routing of customers between these different models and understand what documents to ask for each repeat customer.
  • You will design tests to measure the effect of the different strategies and create observations you will later use to train a model predicting the best option.

FAQs

What is the job title for this position?

The job title is Data Scientist - Repeats.

Is the position fully remote?

No, the position is hybrid in London or remote within the UK.

What team will I be joining?

You will be joining the Repeats team.

What are the primary responsibilities of this role?

The primary responsibilities include designing experiments, measuring opportunities, optimizing document requirements and offer terms for repeat customers, and analyzing observational data.

What type of projects will I be working on?

You will work on projects like refining the affordability strategy and improving document requirements for credit decisions.

What qualifications are required for this position?

You need to have a PhD in a relevant numerate discipline or prior experience solving business problems using statistics or machine learning techniques.

What skills are essential for this role?

Essential skills include strong problem-solving abilities in probability and statistics, proficiency in data manipulation and modeling tools, and the capability to manage projects independently.

Is experience with Python necessary for this role?

Python experience is a bonus but not explicitly required; however, it is preferred as the team mostly works in Python.

What is the salary range for this position?

The expected salary range is from £70,000 to £90,000, although they are open-minded and encourage applicants to include their salary goals.

Are there any benefits associated with this role?

Yes, benefits include medical insurance, a private GP service, generous holiday policies, a sabbatical after four years, and a learning and development budget, among others.

How is the company culture at iwoca?

The company culture prioritizes learning, growth, and support, valuing thought and skill diversity while encouraging innovation and product improvement.

Will I have opportunities for professional development?

Yes, there are ample opportunities for professional development, including a learning and development budget and access to external speakers and learning platforms.

What kind of team will I be working with?

You will be part of a community of Analysts, Data Scientists, and Statisticians, ensuring alignment in methodology and sharing best practices.

Is there any support for mental health?

Yes, iwoca offers instant access to external counseling and therapy sessions for team members who need emotional or mental health support.

Are there social activities offered by the company?

Yes, iwoca organizes events and clubs, such as bingo, comedy nights, and yoga classes, to promote team bonding and a fun working environment.

What is the location of the company offices?

The company has offices in London, Leeds, and Frankfurt.

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iwoca

Technology
Industry
201-500
Employees
2011
Founded Year

Mission & Purpose

iwoca is a fintech company that specializes in providing flexible and accessible small business loans. They offer quick and convenient funding solutions to small and medium-sized enterprises (SMEs) in the United Kingdom and Europe. iwoca's ultimate mission is to empower entrepreneurs and small business owners by providing them with the financial support they need to grow and succeed. Their purpose is to fill the funding gap that traditional banks often overlook, offering accessible and transparent lending options that cater to the specific needs of SMEs. By leveraging technology and data-driven assessments, iwoca aims to simplify the loan application process, make funding more accessible, and support the growth of small businesses, ultimately driving economic prosperity and fostering entrepreneurial success.

Culture & 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.

Benefits

  • Work where you work best

    Twice a year we rent houses in places like Sicily and the French Alps where each team can work together for a week poolside. We champion flexible working in all our teams.

  • Invest in iwoca

    We want people to be invested in iwoca's success so after six months you'll be awarded share options.

  • Keep yourself healthy

    We offer comprehensive health insurance and cash plans. You'll also get gym discounts and we host yoga classes in the office every week.

  • Start (and end) your day right

    Each floor of iwoca HQ has a fully stocked fridge for breakfast and every Friday we unwind with beers and wine.

  • Life-work balance

    We know your life outside of work comes first. We offer enhanced maternity and paternity leave for new parents plus a nursery benefit. We also have unlimited unpaid leave.

  • Learning and development

    Whether you want to learn to code, experiment with motion design, or beat cognitive biases you'll have time and budget to invest in your professional development.