Cofounder - Head of Risk & Actuarial

<p>Every year, over 700,000 workers, students, and apprentices from low-income countries arrive in the EU needing €2,500–€12,000 upfront to cover visa fees, language tests, qualification recognition, and relocation. No one finances this. Banks won't touch it. Families go into debt.</p> <p><strong>Workabroad Advance</strong> is our answer: an income-share agreement product that finances migration costs and collects repayments via employer-mediated payroll, once the worker is placed and earning. The SAM is €6.4B/year in the EU alone. Nobody has built this. You will.</p> <h2>Tasks</h2> <p>What you'll do</p> <ul> <li>Build the ISA underwriting model — default probability by borrower profile, income trajectory assumptions, and loss-given-default curves — without credit bureau data</li> <li>Set income-share rates and repayment caps by borrower cohort</li> <li>Stress-test the portfolio against macroeconomic shocks, default clustering, and income interruption events</li> <li>Structure the warehouse debt facility — tranche sizing, loss triggers, investor reporting</li> <li>Define the path to ABS securitisation at scale</li> <li>Lead regulatory classification of the product under BaFin and AFM consumer credit frameworks</li> <li>Co-own the company as a founding team member</li> </ul> <h2>Requirements</h2> <p>What you bring</p> <ul> <li>Part-qualified or fully qualified actuary (SOA, IFoA, or DAV) — or equivalent depth in structured credit, consumer lending, or quantitative risk</li> <li>Hands-on experience building credit scorecards, PD/LGD models, or pricing models — not just studied them</li> <li>Comfort underwriting thin-file or no-file borrowers — emerging-market or migrant lending experience is a strong differentiator</li> <li>Working knowledge of structured finance mechanics: waterfalls, tranching, loss absorption, warehouse facilities</li> <li>Founder mindset — you want to build, not maintain</li> </ul> <h2>Benefits</h2> <ul> <li>Greenfield category — not many comparable ISA products for this market in Europe</li> <li>Cofounder equity + reasonable comp</li> <li>Structural collection advantage that no standalone lender can replicate</li> <li>Direct path to ABS and institutional debt capital at scale</li> </ul> <p>How would you build a default probability model for a worker from the Philippines entering the German labour market, with no German credit history? Walk us through the variables, data sources, and assumptions.</p> <p>Find more <a href="https://www.arbeitnow.com/english-speaking-jobs">English Speaking Jobs in Germany</a> on Arbeitnow</a>