Head of Mortgage Credit Risk Head of Mortgage Credit Risk …

in London, United Kingdom
Permanent, Full time
Last application, 17 Apr 21
in London, United Kingdom
Permanent, Full time
Last application, 17 Apr 21
Are you detail-orientated, data-driven, analytical and passionate about solving complex problems? Then read on!

Head of Mortgage Credit Risk

The Company
At Wayhome, we’re reinventing homeownership.

Many of us are locked out of homeownership because of restrictive mortgage lending rules and/or because we lack the necessary deposit to purchase the home we want (even though we can afford to rent it!)
Wayhome has spent the last +3 years developing its Gradual Homeownership product and will be launching it shortly in partnership with Allianz Global Investors. But this is only one of several products we are looking to launch to help aspiring homeowners over the coming years.

Our friendly team is comprised of Investment Experts, Quantitative Analysts, Data Scientists, Property Specialists, Engineers, Account Managers, and Creatives; and we’re backed by some of EU leading Fintech VC’s. We believe in helping people overcome one of the biggest and most life-changing problems they face: how to obtain the security and freedom of homeownership.

The Role
We’re looking for a Head of Mortgage Credit Risk to join the Investment Team, to help us improve the underwriting/modelling of our flagship product and set our credit lending policies for new innovative home financing products currently in development.

Reporting to the CIO, this is a unique opportunity to develop the Credit function from the ground up, using all your skills and experiences to date!


  • Establishing appropriate and evidence-based Mortgage Credit Risk lending policies, criteria, guidelines and framework for underwriting and originating assets.
  • Improving our Income, Expenditure and Affordability assessment.
  • Either building from scratch or adapting our own proprietary models for the purpose of setting and amending credit policies, limits, guidelines and frameworks; as well as forecasting and stress testing. While it might have been years since you actually powered up excel, it’s time to roll up your sleeves and get stuck in.
  • Developing, enhancing and maintaining ongoing monthly portfolio analysis.
  • Providing strategic direction to business/product development.
  • Assisting in developing the company’s internal Risk Appetite, Risk Budget and Risk Limits.
  • Providing senior management with effective oversight of all portfolio trends and risks and regularly audit the firms’ credit risk policies.
  • Leading and supporting multiple projects with external and internal stakeholders, and drive forward improvements in risk management across business functions and future products.

About you
Your skills and experience:


  • Expert knowledge and understanding of the retail residential mortgage sector (first charge repayment mortgages).
  • Extensive experience in residential retail mortgage credit risk modelling, management and monitoring.
  • Track record of building bespoke credit/affordability models, designing lending policies and managing credit risk on an ongoing basis.
  • Ability to keep up to date and be at the forefront of any regulatory requirements and changes that may be required as a result of these.
  • Ability to work across multiple business functions and stakeholders.

Extra Credit

  • Experience with calculating and managing regulatory capital requirements.
  • Experience in securitisation, pricing and modelling RMBS.
  • Experience with other segments of the mortgage market such as underwriting, loan processing, and loan servicing.
  • Experience across other investment strategies and products.
  • Experience modelling in Python, or other non Excel/VBA languages.
  • Experience working in a start-up environment.
  • Experience in Islamic Finance.

Who you are

  • You’re detail-orientated, data-driven, analytical and passionate about solving complex problems.
  • You enjoy out of the box thinking and innovation - we’re looking to develop innovative products, not sell what everyone else is selling.
  • You’re not afraid of risk, you aim to understand it, monitor it and control it.
  • You’re self-motivated and can work autonomously.
  • You’re excited about applying everything you’ve learnt to date in a start-up environment where you can have a big impact from day 1.

What we offer you

  • Competitive salary based on experience.
  • Unlimited holidays (minimum of 28 days).
  • Your choice of a Windows or Apple laptop, and any additional kit you may need to do your job comfortably and effectively.
  • An opportunity to be granted stock options for high performance.
  • An office in Bank with all the WeWork bells and whistles, though we’re all currently working from home.

What the (fully remote) hiring process looks like

  • CV and cover letter submission.
  • 30 minute initial phone call to find out more about you, and what you’re looking for in your next role and team.
  • 60-minute competency interview, in which we’ll delve deeper into your experience and your approach to the Head of Mortgage Credit Risk responsibilities.
  • Take-home case study, requiring a commitment of 2-3 hours or fewer.
  • A brief presentation of the case study, followed by a 30-minute brainstorming session on the product, followed by culture fit interviews with your future colleagues - around 2 hours total.

Apply today via the application form and start your next adventure with Wayhome!
Applicants must have the right to work in the UK. We are currently unable to offer sponsorship.

No recruiters, please.

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