Founding Team Member - Workabroad Advance (ISA Underwriting)

Company: Workabroad Advance
Location: Not specified (EU focus)

About Us:
Workabroad Advance is developing an innovative income-share agreement (ISA) product to finance migration costs for workers from low-income countries seeking opportunities in the EU. This addresses a critical market gap where traditional financing is unavailable. The EU market for this is estimated at €6.4 billion annually. You will be instrumental in building this product from the ground up.

About the Role:
As a founding team member, you will take ownership of building the ISA underwriting model, setting income-share rates, structuring debt facilities, and defining the path to securitization. This is a unique opportunity to shape a novel financial product and co-own the company.

Tasks:

• Build the ISA underwriting model, including default probability by borrower profile, income trajectory assumptions, and loss-given-default curves, without relying on 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, including tranche sizing, loss triggers, and investor reporting.
• Define the path to ABS securitization at scale.
• Lead regulatory classification of the product under BaFin (Germany) and AFM (Netherlands) consumer credit frameworks.
• Co-own the company as a founding team member.

Requirements:

• 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.
• 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 – driven to build and innovate.

Benefits:

• Opportunity to work in a greenfield category with novel ISA products for this market in Europe.
• Cofounder equity and reasonable compensation.
• Structural collection advantage unique to this model.
• Direct path to ABS and institutional debt capital at scale.