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Hybrid in London, United Kingdom
The company
Small businesses move fast. Opportunities often don’t wait, and cash flow pressures can appear overnight. To keep going, and growing, SMEs need finance that’s as flexible and responsive as they are.
That's why we built iwoca. Our smart technology, data science and five-star customer service ensures business owners can act with the speed, confidence and control they need, exactly when it's needed.
We’ve already cleared the way for 100,000 businesses with more than £4 billion in funding. Our passionate team is driven to help even more SMEs succeed, through access to better finance and other services that make running a business easier. Our ultimate mission is to support one million SMEs in their defining moments, creating lasting impact for the communities and economies they drive.
The function
iwoca's Data Scientists specialise in supervised machine learning, statistical inference and exploratory data analysis, focusing on tabular and time series data. Our work emphasises quantitative predictions through the analysis of conditional probabilities and expectations, using medium-sized datasets.
The team
The New Applications team optimises the customer journey, from the moment a customer enters the signup flow until our systems have enough information to generate an offer. By identifying and implementing the most efficient ways to convert prospects into successful applicants, the team maximises the number of businesses that get our best possible offers. The team’s remit:
Optimise the customer journey: Make it easy for potential customers to go from just ‘brand aware’ to enthusiastic applicants.
Strategise customer assessments: Decide how and when we run credit checks to maximise conversion rates.
Promote data efficiency: Continually improve how iwoca collects information from both applicants and third-party sources, minimising how long customers wait for a decision.
The role
As a data scientist on the New Applications team you will work closely with the team lead in identifying opportunities and developing strategies for maximising the value we gain from customers who arrive on our signup. This will require you to develop a deep understanding of our customer journey and the dynamics that influence customer lifetime value. You will quantify these opportunities based on past data or modelled assumptions and design and run experiments to test them.
You will be the champion of analytical rigour within the team, ensuring that our experimental designs are correctly defined, our models are evolving and optimised for impact and that we evaluate results rigorously and without bias. You will also mentor and guide data and product analysts on the team.
The projects
Design, implement and review experiments that test the impact of giving instant decisions to different customer segments.
Work alongside the team lead and collaborate with other teams to develop an optimised strategy for deciding what documents we request from customers. This will include building, implementing and maintaining predictive models.
Evaluate and experiment with integrating an LLM chat assistant into the sign-up journey, optimizing for conversion and data quality.
Improve and maintain time series models that predict our loan issuance numbers and other financial metrics.
The requirements
Essential:
Strong problem-solving skills in probability and statistics, ideally from a quantitative background (e.g., Mathematics, Physics, Statistics or similar fields).
Ability to understand business context and translate data into actionable insights that guide decisions.
Understanding of experimental design.
Proficiency with data manipulation and modelling tools, e.g. pandas, statsmodels, R.
Ability to take ownership of tasks and drive projects forward, developing towards end-to-end responsibility.
Ability to communicate clearly in writing and speech, adapting technical detail to suit different audiences.
A commitment to using modern tools effectively – including AI – to maximise quality, speed, and rigour, while retaining responsibility for accuracy and outcomes.
Bonus:
Proficiency in Python, our primary programming language.
Machine learning model development and evaluation experience
Experience with SQL and business intelligence tools such as Looker.
Understanding of Bayesian statistics.
Experience building or maintaining data pipelines. Snowflake/dbt experience is particularly valuable.
Experience using LLM APIs in a production environment.
The salary
We expect to pay from £70,000 - £90,000 for this role. But, we’re open-minded, so definitely include your salary goals with your application. We routinely benchmark salaries against market rates, and run quarterly performance and salary reviews.
The culture
At iwoca, we prioritise a culture of learning, growth, and support, and invest in the development of our team members. We value thought and skill diversity, and encourage people to explore new areas of interest, adopt better tools (including AI), and apply sound judgement so our products and decisions improve over time.
The offices
We put a lot of effort into making iwoca a great place to work:
Offices in London, Leeds, Berlin, and Frankfurt with plenty of drinks and snacks.
Events and community-led groups, including running groups, padel, and monthly ping-pong and pool competitions.
The benefits
Flexible working hours.
Medical insurance from Vitality, including discounted gym membership.
A private GP service (separate from Vitality) for you, your partner, and your dependents.
25 days’ holiday per year, an extra day off for your birthday, the option to buy or sell an additional five days of annual leave, and unlimited unpaid leave.
A one-month, fully paid sabbatical after four years.
Instant access to external counselling and therapy sessions for team members that need emotional or mental health support.
3% Pension contributions on total earnings.
An employee equity incentive scheme.
Generous parental leave and a nursery tax benefit scheme to help you save money.
Electric car scheme and cycle to work scheme.
Two company retreats a year: we’ve been to France, Italy, Spain, and further afield.
And to make sure we all keep learning, we offer:
A learning and development budget for everyone.
Company-wide talks with internal and external speakers.
Access to learning platforms like Treehouse.
Useful links:
iwoca benefits & policies
Interview welcome pack
