Credit Risk Specialist

Credit Risk Specialist

This role focuses on building, validating, and monitoring core quantitative models across the full credit lifecycle to support sound, compliant credit decisioning and sustainable portfolio performance.

ABOUT THE ROLE

The position covers the full spectrum of credit risk quantification, with responsibility for credit decisioning, IFRS 9 provisioning, risk-based pricing, and forecasting. The work is data-intensive and technically demanding, with a strong emphasis on regulatory compliance and robust model governance in a regulated financial services environment.

Key areas of focus include

• Building and maintaining credit risk and affordability assessment models that support risk-led decisions in a fast-paced, evolving context
• Ensuring models are robust, predictive, and compliant with standards from the Prudential Authority and external auditors
• Working with rich datasets to design, refine, and monitor complex quantitative models across the credit portfolio

 

 

Credit decisioning and affordability

• Develop, validate, and monitor credit-granting and account management models and strategies
• Work on application scorecards, behavioural scorecards, and cut-off strategies to support risk-based decision-making
• Develop and implement quantitative models to support affordability assessments, ensuring compliance with the National Credit Act
• IFRS 9 provisioning:
• Develop, validate, and maintain IFRS 9 Expected Credit Loss (ECL) models, including Probability of Default (PD), Loss Given Default (LGD), and Exposure at Default (EAD)
• Establish and monitor Significant Increase in Credit Risk (SICR) criteria for asset staging (Stage 1, 2, and 3)
• Integrate forward-looking information and macroeconomic scenarios into the ECL provisioning framework

 

 

 

Credit pricing and profitability

• Develop, implement, and monitor risk-based pricing models for new credit products to support risk-adjusted profitability
• Conduct credit profitability analysis across the portfolio to identify trends, risks, and commercial opportunities
• Forecasting, reporting and analytics:
• Support budgeting and forecasting for credit-related items, including bad debt provisions and risk-based revenue
• Produce analytics and monitoring packs for senior management and regulatory stakeholders

 

 

 

Model governance

• Contribute to model governance standards, documentation, and validation processes aligned to South African Reserve Bank expectations and audit requirements

WHAT YOU’LL NEED

• Bachelor’s degree in Statistics, Mathematics, Actuarial Science, Economics, Engineering, or another quantitative discipline
• Postgraduate degree in a related field is advantageous
• At least 5 years’ experience in a Credit Risk, Quantitative Analyst, or Data Science role within financial services or banking, ideally with team leadership exposure
• Strong programming skills in SAS, SQL, Python or R for statistical analysis and modelling, with SAS experience preferred
• Advanced SQL skills for data manipulation and querying
• Proven experience in building and validating predictive models in one or more of the following areas:
• Credit decisioning models (application scorecards, affordability models, behavioural scorecards)
• IFRS 9 model development (PD, LGD, EAD)
• Risk-based pricing models
• Experience with data visualisation tools such as Power BI, Looker, or Tableau

 

 

Behavioural capabilities

• Proactive and adaptable, with strong analytical and problem-solving skills
• Confident communicator, able to present complex data and modelling outcomes in a clear, accessible manner
• High level of ownership and initiative, with the ability to operate effectively in fast-paced, start-up-style environments
• Innovative mindset, comfortable working with evolving structures and building new frameworks rather than relying on established processes

 

NICE TO HAVE

• Experience in retail credit or consumer lending environments
• Prior exposure to integrating macroeconomic scenarios and forward-looking information in provisioning and capital models
• Familiarity with regulatory interactions and reporting in a South African prudential context

 

 

WHY JOIN US

• The environment combines the scale and regulatory sophistication of financial services with a strong growth and innovation focus, particularly in retail credit and digital lending. The credit risk function is still being shaped, providing scope to:
• Influence the design of foundational models and frameworks that underpin future strategy
• Build and refine advanced analytics capabilities that directly impact affordability assessment, provisioning, and pricing decisions
• Leave a clear legacy through systems, tools, and methodologies that support a future-facing financial institution
• Candidates who prefer mature, fully established structures may find the environment demanding; those who are motivated by building, shaping, and leading quantitative credit risk capabilities are likely to find the role highly rewarding.
• To apply, please submit your CV outlining your relevant credit risk modelling and financial services experience.