Credit Risk Manager, Flex Originations (Credit Cards)

Position Overview

• Location Type: London, Cardiff or Remote (UK)
• Job Type: Full-time
• Salary: £97,800 - £132,300 + Options + Benefits

Monzo is on a mission to make money work for everyone, moving away from complicated traditional banking. With a decade of growth in the UK, Monzo offers personal and business bank accounts, joint accounts, accounts for 16-17 year olds, a free kids account, credit cards, savings, investments, and pensions. Known for its hot coral cards, early payday feature, financial education, and award-winning customer service, Monzo focuses on solving problems and changing lives.

About the Team

The Borrowing (lending) business is experiencing rapid growth with existing products and planned new initiatives, aiming to create a positive experience with personal credit. This team seeks driven, analytical, and creative individuals to contribute to its goals. The Flex product is reinventing credit cards to offer customers greater visibility and control over their spending. The team is expanding to support future growth and is looking for a Credit Risk Manager to drive the credit and growth strategy for Flex originations. This role involves leading a team of analysts responsible for developing credit and pricing strategies for evolving propositions and new products/distribution strategies.

The credit teams are part of the Data Discipline, fostering a data-driven decision-making culture. Monzo utilizes powerful, real-time analytics and self-serve analytics through Looker, allowing analysts to focus on impactful business questions. Analysts and managers are embedded in product squads with Product Managers, Engineers, Designers, Marketers, Customer Researchers, and Data Scientists, enabling rapid problem-solving and innovation.

Key Responsibilities

• Lead a team of analysts in developing credit and pricing strategies for Monzo's Flex products and distribution channels.
• Collaborate closely with Flex squad leadership to develop and execute an ambitious growth strategy for Flex.
• Partner with teams across engineering, marketing, product, risk, and control to design and deliver new products and customer journeys.
• Lead the development and maintenance of NPV models and affordability strategies that support Flex underwriting decisions.
• Conduct monthly monitoring and reporting on Flex originations performance for stakeholders up to executive level.
• Build, maintain, and own database tables and dashboards to provide insights and facilitate rapid, data-driven decisions.
• Collaborate with the Decision Science team to maximize value from internal and external data using cutting-edge ML models.
• Foster a culture of proactive, high-quality analysis and ensure the necessary credit capabilities, infrastructure, and talent are in place for safe scaling.

Ideal Candidate Profile

• Excitement about Monzo's mission and work.
• Extensive experience in unsecured lending, with a preference for credit cards.
• Deep understanding of lending economics.
• Experience in developing and implementing credit risk strategies.
• Proven ability to lead and mentor a team of analysts.
• Strong analytical and problem-solving skills.
• Experience with data analysis tools and techniques.
• Familiarity with credit risk modeling and pricing.
• Excellent communication and collaboration skills.