Senior Associate, Credit Strategy and Policy Management
Toronto, ON, Canada
Posted on Friday, September 1, 2023
Your career is an investment that grows over time!
Wealthsimple is on a mission to help everyone achieve financial freedom by reimagining what it means to manage your money. Using smart technology, we take financial services that are often confusing, opaque and expensive and make them transparent and low-cost for everyone. We’re the largest fintech company in Canada, with over 3 million users who trust us with more than $20 billion in assets.
Our teams ship often and make an impact with groundbreaking ideas. We're looking for talented people who keep it simple and value collaboration and humility as we continue to create inclusive and high-performing teams where people can be inspired to do their best work.
About the Team:
Credit policy is part of a new retail lending group at Wealthsimple and we want to build a team of exceptional lending professionals with diverse educational backgrounds.
We are taking on green-field lending: starting with small data and growing through iteration and experimentation. The team is responsible for managing a suite of inclusive retail lending products in a way that optimizes risk & return and delights our customers. Our first product in this portfolio will be a credit card.
The credit team is staffed with seasoned engineers, product managers, and data scientists and we need an expert in credit policy who can collaborate with these teams to deliver strategies for credit card approval, line management, pricing, limits, and authorization. This team is at the center of the interplay of product, technology and risk and a great place to see your work deliver a big impact to the business. Together our work will accelerate Wealthsimple’s goal to be the primary financial service provider to millions of Canadians.
We are building inclusive financial products and we want someone who is willing to challenge the status quo of what it means to be credit-worthy.
In this role, you will have the opportunity to:
- Build the strategies to manage risk and optimize performance across all of Wealthsimple’s retail lending products.
- Monitor Risks: evaluating the performance of lending portfolios, and the performance of your campaigns and lending strategies.
- Work on the design and testing of retail lending strategies: approval, line management, pricing, limits, authorization.
- Design campaign strategy: looking for opportunities to drive revenue then design campaigns, evaluate challenger performance, and make recommendations to the leadership team.
- Collaborate with the Credit Data Science team, Business teams, Legal, Finance, and Credit Engineering team.
Within 6 months, you'll be:
- Building and launching a new adjudication strategy on a new credit card portfolio.
- Creating and enhancing monitoring suites to ensure credit card adjudication strategies are profitable, resilient, and customer focused.
- Working with compliance to ensure our control testing coverage is expansive and will catch any new issues that arise.
- Performing root cause analysis to study sudden changes in performance.
- Contributing to business cases for new credit cards and other lending products and strategies.
Within 12 months, you'll be:
- Working with finance on forecasting the impacts of lending product.
- Collaborating with treasury teams on funding sources.
- Adjusting our valuation models making sure they are accurate and compliant.
We're looking for someone who:
- Has strong data skills: dashboards, reporting, visualization, data manipulation
- Experienced with statistical/quantitative analysis: experimental design, champion/challenger (or A/B) testing, model accuracy validation, constrained optimization, decision trees, discounted cash flows, financial modeling
- Has technical experience in: SQL, Python; Airflow, AWS redshift, dbt are nice-to-have
- Experienced in retail lending: credit risk, credit lifecycle management, collections, credit policy implementation
- Is capable of providing effective challenge to machine learning models and statistical analysis
🤑 Competitive Salary with top-tier health benefits and life insurance
📈 Retirement savings matching plan using Wealthsimple Work
🌴 20 vacation days per year and unlimited sick and mental health days
📚 Up to $1500 per year towards wellness and professional development budgets respectively
🛫 90 days away program: Employees can work internationally in eligible countries for up to 90 days per calendar year
🌎 A wide variety of peer and company-led employee resource groups (ie. Rainbow, Women of Wealthsimple, Black @ WS) Employee Resource Groups
💖 Company-wide wellness days off scheduled throughout the year
We’re a remote-first team, with over 1000 employees coast to coast in North America. Be a part of our Canadian success story and help shape the financial future of millions — join us!
At Wealthsimple, we are building products for a diverse world and we need a diverse team to do that successfully. We strongly encourage applications from everyone regardless of race, religion, colour, national origin, gender, sexual orientation, age, marital status, or disability status.
Wealthsimple provides an accessible candidate experience. If you need any accommodations or adjustments throughout the interview process and beyond, please let us know, and we will work with you to provide the necessary support and make reasonable accommodations to facilitate your participation. We are continuously working to improve our accessibility practices and welcome any feedback or suggestions on how we can better accommodate candidates with accessibility needs.