Quantitative Analyst / Data Scientist
at Green Deal Finance Company in London
We at GDFC believe there is an opportunity to create a consumer champion in the UK home energy space. Our aspiration is to create a platform business which connects homeowners with the highly fragmented installer market in the UK. In the UK heating market alone, there are an estimated 31,000 companies employing 95,000 installers. This creates problems for consumers, as given the small size of these businesses, and the infrequent nature of the interaction, these businesses have little credibility in the eyes of consumers, a fact compounded by the reality of some cowboy operators operating in the space. Further, given the large ticket size of many of these items (average boiler ticket is estimated to be c. £3,000, solar panels are c. £5,000 and battery storage is c. £7,000), many consumers and do not have the ability to fund these significant upfront costs (46% of homes in the UK have less than £1,500 in savings).We aspire to help customers by overcoming a number of these issues.
The Business today
GDFC today is a start-up consumer credit business. The business has a current loan book of c. £40m. GDFC finances Green Deal loans, which are a unique type of financing available to UK homeowners and property owners to invest in certain energy efficient and renewable energy measures (boilers, solar panels, insulation etc) for their properties. Green Deal loans are not specific to the property owner, but are repaid via a homeowner’s electricity bills, by whomever is responsible for paying the energy bill at the property. The Green Deal mechanism is backed by UK government legislation.
GDFC originates its loans through a network of lenders known as Green Deal Providers (“GDPs”) who arrange Green Deal loans through providing finance and carrying out, directly or through sub-contractors, the installation of the agreed energy efficiency improvements. This distribution model is potentially highly scalable. Over time we wish to expand from being a lending institution alone, to a platform business connecting homeowners with highly qualified and vetted installers.
We have very significant ambitions to profoundly change and improve the installation of energy efficient measures in the UK. We are looking for individuals to join us who are hard-working, ambitious and are passionate and enthusiastic about joining a high growth, start-up business.
We are looking for a dynamic quantitative analyst / data scientist to help us with numerous areas of analytics. As a business, data and technology are at the heart of what we do. The role will involve working with the chief risk officer, the chief financial officer and CEO directly, as well as a number of other members of the team who are involved in data analytics. The role will involve the presentation of data analysis in person and in written form. The role will focus on the following, but there is considerable scope for the role to expand into other areas;
• Loan book analysis. We have a current loan book of c. £40m, which has about 12,500 borrowers. Whilst we have completed a significant amount of analysis on this, there is a significant amount of on-going and new analysis to complete on the book in order to understand the book’s performance characteristics, which cohorts are performing better / worse etc.
• Credit decisioning. As a lending business, developing and underwriting credit risk is a key area of focus. We are in the process of developing our credit risk scorecard and would like the data analyst to be very actively involved in the analysis to develop this scorecard based on the performance of the existing book, as well as numerous other data sources which we have access to.
• Commercial analysis. We have access to a significant amount of property data from some of the larger listed online property agents. Access to this data set gives us a deep and wide view of the UK domestic real estate market. This is potentially a very valuable data set for us in that it allows us to; i) generate leads for our installer partners; ii) identify older properties which may benefit from the installation of energy efficient measures, iii) complete customer segmentation of the existing set of borrowers to help our installer partners better target potential customers; iv) identify other trends in the market place
• Monitoring return on marketing investment. Analysis of return on our marketing investment (SEO, PR, other etc) in order to optimise our marketing spend
• Monetising the data generated by our installed measures. Over time, we believe that there could be significant value created in monetising the data generated by some of the energy efficient measures installed in homeowners properties.
• Loan Book Reporting. Weekly and monthly reporting of loan book performance
• Sales Reporting. Develop automated tools to develop understanding of sales origination via our installer partners
• Analysis of collection of Green Deal loans. Ongoing analysis of the structure of Green Deal loans in order to make the process and flow more efficient
• Development of Data Warehouse. We will look to build a data warehouse over the coming 6-9 months, which will be the main repository of information for the business
• R / Python
• Experience in a quantitative role in a commercial setting
• Minimum of MSc or PhD in a quantitative subject (math, economics, econometrics, physics, computer science, engineering etc.) from a strong university
• History of strong academic performance
• Ability to present data findings clearly and simply
• Attractive remuneration package on offer
• Pension and healthcare benefits
• Central London