Monzo

Credit Risk Director, Business Borrowing

Cardiff, Wales, United Kingdom

£145,000 – £175,000Compensation
Expert & Leadership (9+ years)Experience Level
Full TimeJob Type
UnknownVisa
Fintech, Banking, Financial ServicesIndustries

About Us

We’re on a mission to make money work for everyone. We’re waving goodbye to the complicated and confusing ways of traditional banking. After starting as a prepaid card, our product offering has grown a lot in the last 10 years in the UK. As well as personal and business bank accounts, we offer joint accounts, accounts for 16-17 year olds, a free kids account and credit cards in the UK, with more exciting things to come beyond. Our UK customers can also save, invest and combine their pensions with us. With our hot coral cards and get-paid-early feature, combined with financial education on social media and our award winning customer service, we have a long history of creating magical moments for our customers! We’re not about selling products - we want to solve problems and change lives through Monzo ❤️

The Role

Location: London or Remote (UK) Salary: £145,000 - £175,000 + Options + Benefits Team: Data Team, Borrowing

Our Team

Our Borrowing (lending) team is growing as we look to develop our suite of borrowing products for business banking customers; sole traders and limited companies. We’re looking for a Director to lead the credit strategy for Business Borrowing. You will lead the team responsible for defining the credit and pricing as we look to evolve our existing propositions and develop new products. We aim to create a genuine feel-good factor when it comes to business credit, and are looking for driven, analytical and creative individuals to help us achieve this goal.

Our credit teams are part of our Data Discipline which drives a strong culture of data-driven decision making across the whole company. We’re great believers in powerful, real-time analytics and empowerment of the wider business. All our data lives in one place and is super easy to use. 90% of day-to-day data-driven decisions are covered by self-serve analytics through Looker which gives analysts the head space to focus on more impactful business questions and analyses.

Join a team where your ideas can rapidly transform into reality, leveraging our cutting-edge technology and agile ways of working. Our credit analysts and managers are fully embedded into a product squad alongside Product Managers, Engineers, Designers, Marketers, Customer Researchers, Data Scientists etc. This enables us to solve customer problems in a fast paced and innovative way.

Your Day-to-Day

  • Leading the team designing credit and pricing strategies for our business lending products
  • Monitoring the performance of our existing strategies, and iterating to improve them
  • Supporting the design and roll-out of new products and customer journeys
  • Leading initiatives to improve our credit underwriting, boost growth and/or manage portfolio risk
  • Overseeing the development and monitoring our credit models to forecast cash flows and assess net present value of new lending cohorts
  • Providing guidance and challenge on credit proposals which will be adopted as Monzo underwriting policy
  • Partner closely with key stakeholders including Capital, Impairments and Forecasting, Financial Health (Collections and Recoveries), Finance, Second Line Credit Oversight
  • Be a member of the Borrowing Leadership Team which drives Monzo's overall borrowing strategy

You Should Apply If

  • You have strong domain expertise in providing lending products to small businesses
  • You have a deep understanding of how business lending works, including regulation and industry best practice
  • You have a solid understanding of lending economics and have experience developing and deploying underwriting strategies and credit models
  • You have strong analytical and data capabilities, backed up by technical coding skills. SQL is a must-have, Python and Looker experience is a plus
  • You are a strong communicator, able to cut through complex problems and articulate decision points
  • You have a track record in project management and leading high p

Skills

Credit Risk
Business Borrowing
Credit Strategy
Pricing
Data Analysis
Product Development
Financial Services
Leadership

Monzo

Digital-only banking platform for consumers

About Monzo

Monzo operates as a digital-only banking platform focused on providing a modern way for individuals to manage their finances. Its main product is a mobile app that allows users to track their income, spending, and savings easily. The app includes features that help users save money, such as automatically setting aside a portion of their paycheck or rounding up transactions to the nearest dollar. Monzo generates revenue through interest on deposits, fees for certain services, and interchange fees from card transactions, as well as offering overdrafts and personal loans. What sets Monzo apart from traditional banks is its real-time balance updates and instant spending notifications, which help users stay informed about their finances. The goal of Monzo is to provide a convenient, mobile-first banking experience that meets the needs of its growing customer base, which has surpassed 8 million users.

London, United KingdomHeadquarters
2015Year Founded
$1,856.7MTotal Funding
LATE_VCCompany Stage
Fintech, Financial ServicesIndustries
1,001-5,000Employees

Benefits

Competitive salary
Flexible working hours
Work from home
Stock options
32 days of paid vacation and public holidays per year
Health insurance
EAP
Learning budget
Home office stipend
Paid parental leave

Risks

Monzo breached UK banking regulations, risking reputational damage and fines.
Expansion into Europe poses regulatory challenges and potential licensing delays.
Reliance on digital platforms makes Monzo vulnerable to technological disruptions.

Differentiation

Monzo offers real-time spending updates and categorized transactions via a mobile app.
The 'Pots' feature allows users to set aside money for specific purposes.
Monzo Plus provides premium features like custom card designs and travel insurance.

Upsides

Monzo secured $400M in 2024, valuing the bank at $5 billion.
The partnership with SignLive enhances accessibility for Deaf customers.
Expansion into Europe in 2025 could significantly increase Monzo's customer base.

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