Credit Risk Modeling Manager Job Vacancy in Welkom, South Africa – Banking and Financial Services

Job Description

Position: Credit Risk Modeling Manager

Company: Capitec Bank

Location: Welkom, South Africa

Experience: 5-8 years of experience in credit risk modeling, statistical analysis, and portfolio risk assessment

Education: Bachelor’s degree in Finance, Economics, Mathematics, Statistics or related field; Master’s degree preferred

Employment Type: Full-time

Industry: Banking and Financial Services

Department: Credit Risk Management

Salary: SSP 600,000 – 900,000 per annum

Vacancies:1

Company Overview

Capitec Bank is a leading South African retail bank renowned for its innovative, customer‑centric approach to banking. With a strong focus on digital transformation and financial inclusion, Capitec serves millions of customers across the country, offering simple, affordable, and transparent banking solutions. The bank’s commitment to technology, data‑driven decision making, and sustainable growth makes it an attractive employer for professionals seeking to make a meaningful impact in the financial sector. As part of its expansion strategy, Capitec is strengthening its credit risk capabilities to support responsible lending and maintain portfolio health, creating exciting career opportunities in South Africa.

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Job Overview

The Credit Risk Modeling Manager will lead the design, development, and validation of advanced credit risk models that underpin Capitec’s lending decisions. Reporting to the Head of Credit Risk, you will collaborate with data scientists, business analysts, and product owners to ensure models are robust, compliant, and aligned with the bank’s strategic objectives. This role is pivotal in enhancing the bank’s risk assessment framework, supporting sustainable credit growth, and safeguarding the institution’s financial stability. The position offers a unique blend of technical challenge and strategic influence, ideal for professionals passionate about leveraging analytics to drive responsible banking.

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Key Responsibilities

• Lead the end‑to‑end development of credit risk scorecards, PD (Probability of Default) models, and loss‑given‑default (LGD) models for retail and SME portfolios.
• Conduct rigorous model validation, back‑testing, and performance monitoring to ensure predictive accuracy and regulatory compliance.
• Collaborate with data engineering teams to acquire, clean, and transform large datasets from multiple sources, including transaction data, credit bureau feeds, and alternative data.
• Present model insights and risk recommendations to senior leadership, risk committees, and regulatory bodies.
• Stay abreast of emerging methodologies, such as machine learning, AI‑driven credit scoring, and explainable AI, and evaluate their applicability to Capitec’s risk framework.
• Develop documentation, model governance policies, and audit trails in line with Basel III, IFRS 9, and local regulatory standards.
• Mentor junior analysts and foster a culture of analytical excellence within the Credit Risk Management department.

Required Skills

• Proficiency in statistical programming languages such as Python, R, or SAS.
• Strong knowledge of credit risk concepts, Basel regulations, and IFRS 9 accounting standards.
• Experience with machine learning algorithms (e.g., gradient boosting, random forests, neural networks) applied to credit scoring.
• Excellent data manipulation skills using SQL and big‑data platforms (e.g., Hadoop, Spark).
• Ability to translate complex analytical results into clear business recommendations.
• Effective communication and stakeholder management skills.

Education

A bachelor’s degree in Finance, Economics, Mathematics, Statistics, or a related quantitative discipline is required. A master’s degree or professional certifications such as FRM, CFA, or PRM are highly desirable.

Experience

5‑8 years of hands‑on experience in credit risk modeling, preferably within a banking or financial services environment. Demonstrated track record of delivering production‑grade models and leading validation projects is essential.

Salary

The successful candidate will receive a competitive salary ranging from SSP 600,000 to 900,000 per annum, commensurate with experience and qualifications. Additional performance‑based incentives may be offered.

Benefits

• Comprehensive medical aid and life insurance coverage.
• Retirement savings plan with employer contributions.
• Generous paid leave and flexible working arrangements.
• Professional development budget and support for certifications.
• Employee assistance program and wellness initiatives.

Training

• Onboarding program covering Capitec’s risk culture, systems, and compliance framework.
• Continuous learning opportunities through internal workshops, external courses, and industry conferences.
• Access to advanced analytics platforms and tools for skill enhancement.

Working Environment

Capitec offers a collaborative, inclusive, and technology‑driven workplace located in the vibrant city of Welkom. The office features modern workspaces, meeting rooms equipped with video‑conferencing, and a supportive community that encourages innovation and knowledge sharing. Employees benefit from a balanced work‑life environment and a culture that values diversity and empowerment.

Application Process

Interested candidates should submit their updated CV and a cover letter outlining their relevant experience via the Capitec Careers portal. Applications will be reviewed on a rolling basis, and shortlisted candidates will be invited for a virtual interview followed by an on‑site assessment.

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Equal Opportunity Statement

Capitec Bank is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees, regardless of race, gender, age, disability, religion, or sexual orientation. All qualified applicants will receive consideration for employment without regard to any protected characteristic.