Credit Risk Business Analyst

The Company

Fig is an innovative, fully digital lender dedicated to serving a best-in-class borrowing experience for Canadians. Clients can complete their entire loan application in under 10 minutes from the comfort of their homes, with our user-friendly online platform. This fast, easy, and secure process eliminates lengthy waits, hidden fees, and branch visits

Fig is trusted by thousands of Canadians, boasting a 4.8 out of 5 stars TrustPilot Review score with over 400 client reviews. Fig was developed in collaboration with Koru, a venture studio owned by the Ontario Teachers’ Pension Plan, and is backed by a schedule 1 Canadian Bank: Fairstone Bank. Fig therefore uniquely blends the benefits of extensive lending experience with the agility of a start-up.

The Role

This is a unique opportunity to bring your strategies to life from “end-to-end” using a data-driven approach As a Business Analyst / Sr. Business Analyst within our risk team, you will:

- Gather and Visualize Data: Collect and analyze data to assess the health of the portfolio, uncover insights and identify opportunities.

- Build Analytical Business Cases: Develop initial business cases based on your findings, providing a strong foundation for strategic decisions.

- Ensure In-Market Delivery: Oversee the implementation of strategies and tests, ensuring effective market execution.

- Measure and Refine Impact: Continuously monitor outcomes, test and refine strategies to improve customer and financial results.

Throughout this process, you will enhance your analytical skills, storytelling and presentation abilities, and collaborate with experts and senior leaders on critical decisions.

The Environment

At Fig, we pride ourselves on being collaborative and data-driven. You will thrive in an agile, entrepreneurial, fast-paced, cross-functional environment where you will work alongside and learn from various functions. In this role, you will:

- Utilize Advanced Tools: Leverage tools such as SQL and Python to query, organize data, and build predictive models.

- Engage in Diverse Tasks: Work with spreadsheets, slides, and various analytics tools to interpret and present data and recommendations effectively.

- Collaborate Across Functions: Engage with team members from different departments to ensure cohesive strategy implementation and gain a holistic understanding of the business.

This dynamic environment will allow you to develop a well-rounded skill set, utilize and enhance your technical proficiency, and contribute to impactful business decisions.

• Credit: Optimize underwriting decisions by balancing credit risk and return profile using data mining, analytical, and predictive modeling skills. This involves:
• Building and Maintaining Models: Develop and sustain valuation models and credit policies that enhance profitability and client outcomes.
• Strategic Credit Decisions: Optimize underwriting decisions at acquisition and account management stages: Determining who receives credit, how much to extend, and at what interest rate (APR).
• Initiatives and Enhancements: Lead new initiatives, such as creating new credit risk segments and strategies, or update and refine existing models and policies.
• Testing and Learning: Design and launch test-and-learn experiments, and be accountable for measuring performance and shaping long-term strategies based on results and insights gained.
• Reporting: Generate insights through in-depth portfolio analytics and develop ongoing/automated reporting to measure the health of the portfolio and credit strategies. This involves:
• Insight Generation: Conduct detailed portfolio analyses to uncover opportunities, trends, and anomalies.
• Leadership Support: Provide concise and insightful analytical support to leadership, aiding in the monitoring of strategies and in-market tests.
• Dynamic Response: Help Fig respond to the dynamic credit environment by delivering actionable insights.
• Fraud: Support the analysis and monitoring of fraud data and signals to develop strategies and policies that mitigate fraud losses. This involves:
• Analysis & Monitoring to Mitigate Fraud: Work with the fraud team to understand emerging fraud trends and implement data-driven strategies to minimize fraud losses, supporting better outcomes for Fig, its customers, and fraud victims.

• Enhance credit performance leveraging historical data and linking future consumer credit expectations.
• Conduct rigorous analytics and predictive modeling, including designing & launching experiments to test hypotheses.
• Monitor portfolio and credit performance, generate insights, and communicate recommendations to continuously enhance risk and business growth objectives.
• Drive business reporting and monitor Key Risk / Performance Indicators.
• Create documentation, and collaborate with product, engineering, and other teams to ensure effective implementation, testing, and monitoring.

• A bachelor’s degree or higher.
• At least 1 year of experience in a role with analytical problem-solving that drove strategic outcomes.
• Experience in basic coding and / or analytical tools (knowledge of SQL, or Python or similar).
• Ability to communicate effectively with stakeholders (both written & oral) and strong interpersonal skills.

• See a few qualifications below that you don’t have? Don’t worry, we’ll help support you to develop the skills for the job as long as you have an interest in and aptitude for learning

• Data-first mindset with excellent attention to detail.
• Self-starter who can work independently and take initiative; highly motivated to achieve business objectives in a fast-paced environment.
• Team player who can collaborate with cross-functional teams.
• Experience in a related industry (Financial Services, FinTech, Lending and/or Technology)
• Experience in a Technical / Quantitative area such as:
• Working with large data sets
• Predictive analytics / data modeling
• Portfolio monitoring / reporting
• Credit risk management
• Statistics or econometrics background

• Unique opportunity to join a fast-growing company, working alongside a talented, collaborative team looking to drive real results in a fast-paced, entrepreneurial environment.
• Ability to directly impact by exercising your analytical, technical, and problem solving skills.
• Competitive compensation.
• Retirement savings program with employer matching.
• Comprehensive medical, dental, and vision group insurance, as well as health and wellness spending accounts.
• Generous time off to help you recharge.
• Parental top-up to support your growing family.
• Continuing education stipend to support your professional development.

Our commitment to diversity, equity and inclusion

We are an equal opportunity employer and are committed to diversity at our company. We do not discriminate on the basis of race, religion, culture, sexual orientation, gender identity and physical ability.

Diversity of backgrounds, perspectives, and experience is fundamental to our business. We believe in fostering an environment where team members of all backgrounds can feel comfortable bringing their whole selves to work every day. We aim to ensure all of our employees work in an environment that makes them feel valued, heard, and supported while they strive towards career pursuits and their personal and professional growth.