BNPL Risk Lead

Role Overview

• Define and maintain credit risk metrics, concentration limits, and portfolio triggers, ensuring consistent measurement across products.
• Drive risk-based analysis to inform appetite, cut-off adjustments, and portfolio strategy.
• Manage merchant concentration risk and manage the risk framework.
• Act as the risk lead counterpart for new product development, providing risk input from concept through to launch.
• Assess and articulate risk-return trade-offs to support commercially sound product design decisions.
• Identify and monitor novel product risks (e.g. Section 75, merchant concentration) and ensure appropriate governance is in place.
• Ensure adherence to internally defined risk limits and externally defined triggers arising from funding and warehouse arrangements.
• Act as a key point of contact for funders, auditors, and advisors on credit and product risk matters.
• Lead risk-related workstreams for funding due diligence, warehouse renewals, and external reviews.
• Own the merchant risk framework, including criteria for throttling, suspension, or enhanced monitoring of merchant partners.
• Develop and maintain oversight of merchant-level concentration and performance metrics.
• Work closely with commercial and product teams to balance growth objectives with risk limits.
• Oversee the impairment framework, including IFRS 9 staging logic, ECL model governance, and assumptions.
• Partner with finance to ensure provisions are accurate, defensible, and well-communicated.
• Monitor forward-looking indicators and macroeconomic overlays, escalating where necessary.
• Provide clear, structured risk updates to Product Steering Committees, Board Risk Committees, and senior management.
• Proactively identify emerging risks and ensure timely escalation and remediation.
• Define and maintain standardised reporting frameworks, ensuring consistency and comparability as the business scales.

Requirements

• At least 3 years’ experience working directly with a relevant retail finance product such as BNPL, Unsecured Personal Loans, retail credit, or point-of-sale finance – with a strong understanding of the product lifecycle and associated risk dynamics.
• Broad credit risk expertise spanning decisioning, risk measurement, product risk, funding/warehouse compliance, and impairment/IFRS 9.
• Experience owning or contributing to impairment frameworks (IFRS 9 ECL), including staging logic, model governance, and macroeconomic overlays.
• Familiarity with merchant risk management or B2B2C risk structures is advantageous.
• Track record of engaging with funders, auditors, or rating agencies on risk and credit performance topics.
• Strong written and verbal communication skills; able to present complex risk topics clearly to senior and non-technical audiences.
• Comfortable working closely with data scientists and getting into quantitative detail, without necessarily being a practitioner modeller.

Benefits

• Everyone owns a piece of the company – equity.
• Hybrid working with 3 days a week in the office.
• 25 days’ holiday a year, plus 8 bank holidays.
• 2 paid volunteering days per year.
• One month paid sabbatical after 4 years.
• Employee loan.
• Free gym membership.
• Team wellness budget to be active together – set up a yoga class, a tennis lesson or go bouldering.