Senior Credit Modelling Analyst
London / £55000 - £75000
£55000 - £75000
SENIOR CREDIT MODELLING ANALYST
This growing bank are in an exciting period of expansion and are seeking an experienced credit modeller to join their team. The business will be looking to launch new products and expand their customer base and you will be instrumental in this. This role offers the chance to take a hands-on, analytical role where you can have a real impact.
- Work across a range of credit models within the business, including scorecards and pricing models
- Monitor and report on these models, taking oversight across the modelling process
- Working to solve ad hoc business problems and develop strategy in conjunction with teams across the business
- Assessing wider portfolio performance and using analytics to drive lending strategies and work closely with the credit committee on this
YOUR SKILLS AND EXPERIENCE
- Essential to have experience in credit modelling
- Strong skills in Python and SWL are also essential
- Ideal to have experience in regulatory credit modelling
- Commercial mindset and desire to drive business forwards
SALARY AND BENEFITS
- Up to £75,000 base salary
- Discretionary bonus scheme
- Contributory pension scheme
- Flexible holiday scheme
- Remote based work model
HOW TO APPLY
Please register your interest by sending your CV to Rosie Walsh through the 'Apply' link
Is Product Analytics the new Digital Analytics? | Harnham Recruitment post
Following on from our exploration of what Digital Analytics is, and the exploration specifically of hiring Digital Insights Analysts in the North of England and Midlands, we wanted to take a look at Product Analytics, and how it differs from the standard Digital Analyst role.To help investigate the importance of Product Analytics in the current market, we have interviewed Nicky Tran, a Product Analyst at Virgin Media (Manchester).What Is A Product Analyst?In simple terms, a Product Analyst ‘’looks at the different products a company has, and then you are identifying which areas of the product can be improved or which areas can be optimised.” While Digital Analytics can inform the product lifecycle, the interesting aspect to this role is, that unlike a traditional Web Analyst role, it is more of a hybrid role. Nicky emphasised that it is ‘’an upcoming sector within the analytics community’’, providing an overlap between Digital Analytics, Customer Analytics and Data Science.The key skills and tools for this role are advanced SQL, Google Analytics, and AB testing. So how does this skillset differ from a traditional Web Analyst? Nicky suggests that while the core requirements are that of a Web Analyst, with a web role you would essentially just be using Google Analytics Data. However, as a Product Analyst, you would be using advanced SQL to access other data bases, and pull data from models, and therefore, “you are combining two sets of data to get a more insightful look”.Why Is Product Analytics Important, And Why Are They Now Becoming More Prominent On The Market?Similar to Digital Analytics roles, it is clear that with the impending digital transformation, companies are becoming increasingly data-led, especially with regards to their digital platforms (and products).As a result of the pandemic, the digital space is so much more important than ever before. Therefore, to stay competitive, and to really understand the products from the consumer perspective, companies have to provide the most personalised customer experiences to acquire and retain their consumers. As Nicky mentions, ‘It is definitely worth making an ‘inventory’ to see how to promote what you have – it is about personalising the customer journey’.What are employers looking for in a Product Analytics candidate?Product Analytics are great due to their hybridity. In the current market, where there are numerous jobs, and few candidates, a Product Analyst (technically strong in three areas) is a highly sought-after rarity.Businesses are becoming increasingly invested in Product Analytics and having a Product team that works alongside the Digital team can be beneficial; especially when companies need to stay competitive.What are Candidates looking for? Understanding the differences between a Digital Analyst, and a Product Analyst is key to understanding what a candidate is looking for. Nicky suggested that this Product Analyst role enabled her to be the ‘bridge’ between areas.So how does the future of a Product Analyst differ to that of the route of a Digital Analyst? For Nicky, this is one of the most important factors to being a Digital Analyst, as she has the option to go down the Data Science route in the future should she wish. The more technical skills she has as a Product Analyst means she is building up experience across different areas of Data & Analytics, giving her a slightly different career path, should she want to go down a more technical route.Why Choose A Product Analyst Role?“If you come from a technical background – maths, physics, computer science – and are interested in how the numbers are crunching, it is worth going into Product Analytics, as it needs a logical mathematics brain, to be able to convert it into a way which is useful to stakeholders.”From speaking to Nicky, it is clear that Product Analytics is an up-and-coming role that people don’t know enough about it. Therefore, if you are curious about Product Analytics, or any of the different roles the market has to offer at the moment, as an employer looking for help hiring, or a candidate actively or passively looking for work, Harnham can help. Take a look at our latest Product Analytics jobs, or get in touch for more information on how we can support your hiring needs.
As Incidents Of Cybercrime Increase, How Can A Fraud Analyst Give Your Business Peace Of Mind?
Whilst it’s true that cybercriminals are becoming more creative and sophisticated, as are analytical techniques and the experts that wield them. Fraud Analysts now have more techniques and reach than ever, and as incidents of cybercrime increase, this isn’t an area that businesses should be scrimping on.
According to PwC’s Global Economic Crime and Fraud Survey 2022, 46 per cent of organisations surveyed reported experiencing fraud or financial crime over the last 24 months and tech, media and telecommunications businesses appeared to have taken the brunt. Findings showed that nearly two-thirds of this group experienced some form of fraud, the highest incidence of any industry.
The ONS also recently released stats showing that fraud offences increased by 25 per cent in 2021 (to 4.5 million offences) compared with the year ending March 2020. Indeed, the proportion of these incidents that were cyber-related increased to 61 per cent up from 53 per cent.
The rise of cyber-fraud is a clear issue and for some businesses such as financial institutions, tackling this by using fraud teams made up of expert Fraud Analysts is the norm. But for others, it may not have been seen as a priority until recently. However, any business which has a growing number of online transactions will become a bigger target for fraudsters and would benefit from a team member able to help minimise the risk.
So, how can fraud analysts help?
Far from wanting to paint a bleak picture, while fraud techniques are evolving and improving, so are anti-fraud efforts. All risks associated with financial crime involve three kinds of countermeasures: identifying and authenticating the customer, monitoring and detecting transaction and behavioural anomalies, and responding to mitigate risks and issues. All of these are carried out by fraud experts, such as Fraud Analysts, armed with ever-evolving technologies and techniques. So, what exactly does a Fraud Analyst do?
Fraud Analysts will track and monitor transactions and activity, identify and trace any suspicious or high-risk transactions, determine if there is improper activity involved, and identify if there is any risk to the organisation or its customers. They are able to digest huge swathes of information and quickly and efficiently prioritise the data that’s important in order to tell a story of fraud or no fraud.
To cope with the speed and scale of online commerce, new technologies such as Machine learning (ML) models have come to the fore. These models have the ability to simulate thousands of scenarios and take over the mundane tasks of sifting through swathes of data in a tiny percentage of the time it would take a human. The systems used by Fraud Analysts will vary based on the industry, but a common example is rule-based expert systems (RBESSs). A very simple implementation of artificial intelligence (AI) RBESSs are used to detect fraud by calculating a risk score based on users’ behaviours, such as repeated log-in attempts or ‘too-quick-for-being-human’ operations. Based on the risk score, the rules deliver a final decision on each analysed transaction, therefore blocking it, accepting it, or putting it on hold for analyst’s revision. The rules can be easily updated over time, or new rules can be inserted following specific needs to address new threats.
This method has proved very effective in mitigating fraud risks and discovering well-known fraud patterns. That said, rule-based fraud detection solutions have demonstrated that they can’t always keep pace with the increasingly sophisticated techniques adopted by fraudsters, without regular updates and expert use.
Machines also cannot mimic human traits like intuition. People can detect if things aren’t right even if they have not seen them before. It’s an instinct not yet successfully trained into machines. Therefore, new trends are much better pursued by an analyst and then a machine can be trained to stop future occurrences. A well-implemented ML system will free up precious time for an analyst to perform these more productive tasks.
A non-stop process
So, your Fraud Analyst has now set up a new ML system to identify fraudulent activity and is also looking for new trends that fraudsters may be trying – now what? Fraud Analysts never sit still. Their job is not a one-time fix but one of constant evolution and refinement. Their role involves identifying weaknesses in systems and continually looking for opportunities for improvement, such as recommending anti-fraud processes to detect new patterns or new software tools to help with reporting. Their finger is always on the pulse of emerging developments and will ensure your company remains protected against current risks.
Not only is this aspect part of the job description, but it is also to some extent inherent to their nature. Fraud Analysts tend to be curious, have a strong attention to granular detail, as well as an inclination towards problem-solving. Leaving no stone unturned is part of their makeup. This analytical skillset will dig out any problems that are there – which will unfortunately then require you to fix them (sorry!) – but it is far better to be aware of any weaknesses now. The majority of companies only realise their shortcomings when it is already too late. Ultimately it is better to be safe than sorry.
A Fraud Analyst not only helps to protect businesses against creative cyber criminals but will also give owners reassurance as they look to grow and thrive unimpeded.
If you are looking for a complete recruitment solution across the breadth of Data & Analytics disciplines to build out a robust Data & Analytics function, get in touch with one of our expert consultants here.
Looking for a new role? Take a look at our latest Fraud Analyst jobs.
Why choose a career in credit risk | Harnham US Recruitment
If your education and work experience have given you solid skills in diligence, quantitative analysis, computer software and communication, then you’re well on your way to becoming a highly valued member of the workforce. But why would a career in Credit Risk be a good choice over the myriad of other jobs that would welcome someone with those particular skills? Here are a few compelling reasons: It’s a very lucrative professionWith a huge proportion of your life taken up by work, nobody should do a job purely for the money. The monthly paycheck may look nice on your bank balance, but there’s a lot to be said for being in a job that makes you happy, not just rich.There’s no denying that a Credit Risk Analyst salary is a good one, with research from payscale.com suggesting the average salary sits at just over $80,000 with bonuses potentially adding another $10,000 to that figure. The benefits that come with that aren’t to be sniffed at either. With companies competing for the best talent, they need to be come up with a range of added extras to tempt candidates including holiday allocations well above average, private medical insurance and flexible work patterns. It’s a job that’s based on dataAfter the industrial age and the technological age, now many analysts say we’re now living in the data age. Never before has it been easier to collect, collate and cross-reference information from a vast number of sources. You no longer need to rely on a basic credit report and salary history to make a sound assessment of creditworthiness. Many roles have been revolutionized by so-called ‘Big Data’ and credit risk jobs are no different. It’s a role that has always been governed by information, and the more you have at your disposal, the better decisions you’ll be able to make and the better strategies you’ll be able to put together. There’s a positive job outlookA study from Oxford University suggests Credit Analyst sits 26th on a list of roles most at risk from automation, sitting just above Parts Salespersons and below Milling Machine Setters. However, contrary to this and other reports that AI is going to make all our jobs redundant in the not-too-distant future, Credit Risk is an area that’s actually expected to grow; data from the US Bureau of Labor Statistics suggest an increase of 10% between 2012 and 2022. While computers can do an excellent job of presenting data, there’s a huge amount of human interpretation that needs to be done to deliver reasoned and thorough insight – humans may not be perfect, but nobody wants to put a potential repeat of the 2008 economic meltdown in the hands of machines. There’s an excellent career pathMany of those sitting in boardrooms in some of the country’s biggest companies will have begun their careers in Credit Risk. It’s a position that gives you an excellent insight into the interests of the company you’re working for as well as the typical applicants you’re assessing. Whether you decide to climb the credit risk ladder to more senior finance positions or branch out into sales or marketing functions, this grounding of business acumen and customer insight is sure to stand you in good stead. For the latest opportunities at Harnham, take a look at our credit risk jobs here
CAN’T FIND THE RIGHT OPPORTUNITY?
If you can’t see what you’re looking for right now, send us your CV anyway – we’re always getting fresh new roles through the door.