Job Description

Data Scientist - Broker Terms Team

Hybrid in London, United Kingdom

We're looking for a Data Scientist to join the Broker Terms team.

You'll shape the analytical approach for a team that sets the terms on iwoca's biggest acquisition channel. The team is young, with many unexplored opportunities.

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 ildrive.

The team

Broker Terms is a growing team that sits within iwoca's third-party acquisition department. It owns the full offer terms strategy for customers referred through the broker network – both first-time customers and repeat. The team sets pricing, loan amounts, durations, and broker commissions, and owns the UX that presents them to brokers and customers.

The team is small and interdisciplinary, combining commercial strategy, engineering, and data science. The work translates business questions into quantitative problems, and findings into actionable decisions. Active projects include:

• Model-based pricing – creating a sophisticated model to offer bespoke pricing to each customer
• A no-fee test – examining how our product performs when we remove all drawdown fees, and how that influence customer repayment behaviour
• Testing longer-duration flexi-loan products with particular customer segments.
• Reintroductions - exploring the right offer terms to give returning customers

The team is small and cross-functional – commercial strategy, engineering, design, and data science – and works across the full application stack, from the Broker API to the Introducer Portal brokers use.

The role

You'll model expected customer take-up rates, design experiments, and translate findings into pricing and product decisions for the acquisition channel that drives the most customer lifetime value (CLTV). Because the Broker Terms team is a young team, you'll influence how its analytical approach develops, not just what it produces.

The work has direct commercial consequences: brokers act on what the team builds and tests, and that shapes which customers iwoca wins and on what terms.

• Offer terms and experimentation. You'll model how customers respond to offer terms and how brokers make decisions under uncertainty. You'll design experiments where causal inference is central: you'll need to know where standard A/B testing breaks down and what to reach for instead.
• Commercial translation. You'll work with commercial and strategy colleagues and see your analysis applied directly in day-to-day decisions. That includes meeting brokers in person – gaining context that shapes how you frame and interpret results – and coordinating with adjacent teams responsible for underwriting decisions, repeat lending, and offer construction.
• CLTV and customer journey. You'll think across the full broker-referred customer journey – from first funding to repeat – identifying what drives CLTV and what changes to offer terms or UX improve it. You own both the strategy and the mechanism, so your findings feed directly into what the team builds and tests.
• AI and ways of working. You'll use AI to accelerate and automate your analytical work – not occasionally, but as a default. You should have a view on where it genuinely helps and where a different approach is better.

The requirements

Essential:

• Statistical foundations. You have a background in probability and statistics from a quantitative field such as mathematics, physics, or statistics. You're comfortable with Bayesian reasoning, and have applied hierarchical models or formal decision-making under uncertainty in real work.
• Causal inference and experimentation. You've separated signal from noise in observational and experimental data. You know where A/B testing breaks down and what to reach for instead. You have experience with careful experimental design to facilitate clean, trustworthy results.
• Analytical ownership. You take loosely defined problems from start to finish – framing the question, choosing the method, and landing the answer with the people who act on it.
• Data tooling. You're proficient with data manipulation and modelling tools, and with scientific computing libraries (pandas, numpy, sklearn, PyMC).
• AI leverage. You've used AI to produce work you couldn't have delivered without it – an analysis pipeline, a prototype, or a tool others use. You judge where it helps and where it doesn't, and you check its output before anyone acts on it.
• Communication. You write and speak clearly, directly, and concisely. You adapt technical detail for non-technical colleagues in commercial and strategy roles.

Bonus:

• Modelling depth. You've built or adapted statistical or ML models and can explain the maths behind them to commercial stakeholders.
• Stochastic methods. You've used stochastic processes for inference or time-series modelling.
• Broker market insight. You've worked with brokers or other intermediaries in lending or financial services.

The salary

We expect to pay from £70,000 to £100,000 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, the best idea wins. We model our culture on independent thinking, challenging untested logic, and evidence-based decisions. We prioritise learning and growth, and give people the autonomy to develop in the direction that makes them most effective.

We're a tech company and believe in the power of AI to help us work faster and better. We provide the infrastructure where every iwocan always has access to the best models and where those models have access to all of our data. We will help our people to learn how to use and grow with the new tools available to them.

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