Cofounder Head of Risk & Actuarial

Every year over 700000 workers students and apprentices from low-income countries arrive in the EU needing upfront to cover visa fees language tests qualification recognition and relocation. No one finances this. Banks wont touch it. Families go into debt.

Workabroad Advance is our answer: an income-share agreement product that finances migration costs and collects repayments via employer-mediated payroll once the worker is placed and earning. The SAM is 6.4B/year in the EU alone. Nobody has built this. You will.

What youll do

• Build the ISA underwriting model default probability by borrower profile income trajectory assumptions and loss-given-default curves without credit bureau data
• Set income-share rates and repayment caps by borrower cohort
• Stress-test the portfolio against macroeconomic shocks default clustering and income interruption events
• Structure the warehouse debt facility tranche sizing loss triggers investor reporting
• Define the path to ABS securitisation at scale
• Lead regulatory classification of the product under BaFin and AFM consumer credit frameworks
• Co-own the company as a founding team member

What you bring

• Part-qualified or fully qualified actuary (SOA IFoA or DAV) or equivalent depth in structured credit consumer lending or quantitative risk
• Hands-on experience building credit scorecards PD/LGD models or pricing models not just studied them
• Comfort underwriting thin-file or no-file borrowers emerging-market or migrant lending experience is a strong differentiator
• Working knowledge of structured finance mechanics: waterfalls tranching loss absorption warehouse facilities
• Founder mindset you want to build not maintain

• Greenfield category not many comparable ISA products for this market in Europe
• Cofounder equity reasonable comp
• Structural collection advantage that no standalone lender can replicate
• Direct path to ABS and institutional debt capital at scale

How would you build a default probability model for a worker from the Philippines entering the German labour market with no German credit history Walk us through the variables data sources and assumptions.