Credit Risk Senior Associate - Retail Mortgage

N26 is looking for a Credit Risk Senior Associate to join N26's Retail Mortgage team. N26 has reimagined banking for today's digital world. Technology and design empower everything we do and it's how we are building the global banking platform the world loves to use. We've eliminated physical branches, paperwork, and hidden fees for an elegant digital experience and supreme savings. Giving people the power to live and bank their way is what gets us out of bed in the morning and inspires the work that we do. We are headquartered in Berlin with offices in multiple cities across Europe, including Vienna and Barcelona, and a 1,500-strong team of more than 80 nationalities.
The core purpose is to design, implement, and manage robust data analytics and second-line process controls for the mortgage portfolio. The role emphasizes deep methodological expertise, strong SQL and Python skills, and a proactive curiosity for broader mortgage business aspects, including macroeconomic analysis of collateral and digital process controls. The Senior Associate will ensure rigorous regulatory compliance (Dutch, EU, German, especially MaRisk) and contribute to scaling the credit risk function through data-driven insights and control effectiveness. Contribute significantly to the further development of N26's mortgage credit risk function, aligning with N26's growth aspirations, robust risk management objectives, and stringent regulatory compliance requirements within the retail mortgage business. Play a key role in the continuous enhancement of N26's global mortgage governance framework, policies, and procedures, ensuring full alignment with the latest Dutch (e.g., THRK), European (e.g., EBA GL LOM), and German (MaRisk, KWG) regulations. Support the further development and seamless implementation of end-to-end mortgage credit processes and criteria. This includes, but is not limited to, loan granting, comprehensive collateral management, sophisticated monitoring, proactive early warning systems, intensified and problem loan management, and accurate loan loss provisioning. Design, implement, and operate robust second-line control frameworks and tools for mortgage processes and the portfolio, including for the oversight of business activities and effective monitoring of third-party service providers. Develop and maintain a resilient and accurate mortgage credit risk database, crucial for precise portfolio and single case monitoring, portfolio reporting, and loan loss provisioning, with a strong focus on data quality and integrity. Conduct in-depth data analysis and support further development of quantitative models (PD, LGD) to assess key risk indicators across obligor, collateral, and portfolio levels within the mortgage domain. Proactively run comprehensive risk analyses, including assessing the impact of macroeconomic factors on collateral values and broader portfolio performance. Partner with Mortgage Business, Group Treasury, Capital Markets, Corporate Finance, Risk Controlling, Accounting, Regulatory Reporting, and Tech departments to implement credit requirements, help ensure transparency, and compliance with applicable credit law and regulations, and contribute to establishing a risk culture in the organization.
Bachelor's degree in finance, economics, mathematics, computer science, or a comparable quantitative field; an additional qualification (e.g., Master's degree in a relevant field, passed CFA or FRM exams) is a strong plus. 3+ years of experience in credit risk management, particularly with a focus on retail mortgage products, data analytics, process controls, or credit risk methodology development. Previous experience in a FinTech environment is a plus. Skills Good understanding of key risk indicators across obligor, collateral, and portfolio levels within the mortgage domain. Solid understanding of processes across the entire mortgage value chain (e.g., credit decisioning, monitoring, early warning, intensified and problem loan management). Solid regulatory knowledge of Dutch (e.g., THRK), European (e.g., EBA GL LOM), and German (MaRisk, KWG) regulations; successful track record of understanding their implementation and liaising with supervisory authorities is a strong plus. Proven experience in building, implementing, and running credit process controls and oversight frameworks. Strong proficiency in SQL for data extraction, manipulation, and analysis; experience with other programming languages like Python for quantitative analysis and model development is a significant advantage. Solid knowledge of credit risk methodology for mortgages, including PD/LGD models, debt-servicing ability, and advanced collateral valuation techniques, with a keen understanding of integrating ESG factors. Strong analytical and quantitative skills, with the ability to independently generate actionable insights from complex data. Experience with data governance and data quality management processes is a strong plus. Fluent English (German and/or Dutch is a strong plus). Traits Curiosity and Hands-On Approach: An inherent curiosity about the underlying mechanics of the mortgage business, macroeconomic factors impacting collateral values, and a strong hands-on attitude towards problem-solving. Analytical Rigor & Attention to Detail: Possessing a meticulous attention to detail coupled with exceptional analytical and problem-solving skills. Proactive Drive for Improvement: A strong drive to challenge existing processes for the better, identify areas for enhancement, and proactively implement data-driven solutions. Bridge Complexity: Excellent communication skills, particularly the ability to translate complex technical and quantitative analyses into clear, concise insights for various stakeholders. Continuous Learning: An eagerness to continuously learn new methodologies, technologies, and regulatory developments, adapting quickly in a fast-changing environment. Strong Ownership: A very strong sense of ownership, taking full accountability for deliverables and demonstrating a 'get things done' approach with an autonomous attitude. Collaborative Mindset: A positive and collaborative mindset, actively helping oneself and the team to be successful in an open and supportive environment.
What's in it for you: Accelerate your career growth by joining one of Europe's most talked about disruptors . Employee benefits that range from a competitive personal development budget, work from home budget, discounts to fitness & wellness memberships, language apps and public transportation. As an N26 employee you will have access to a Premium subscription on your personal N26 bank account. As well as subscriptions for friends and family members. Additional day of annual leave for each year of service. A high degree of autonomy and access to cutting edge technologies - all while working with a friendly team of peers of diverse nationalities, life experiences and family statuses. A relocation package with visa support for those who need it. Equal Opportunities: We recognize that our strength lies in our people and the varied perspectives they bring to our workforce. We strive to build talented and diverse teams to drive our business success and empower our people to reach their full potential. We genuinely welcome and encourage applications from people of all backgrounds, cultures, genders, sexual orientations, abilities, neurodiversities, and ages. We're committed to creating an inclusive workspace where everyone feels valued and respected, free from harassment and discrimination. If there's anything you need to make the application process work for you, please let us know by reaching out to [email protected]. Visit our website to learn more about Diversity, Equity, & Inclusion at N26.