[Remote] Director of Collections & Recoveries at Monzo

Cardiff, Wales, United Kingdom

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£110,500 – £120,000Compensation

Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Fintech, Banking, Financial ServicesIndustries

Requirements

Candidates should possess deep experience in leading collections and recoveries operations for a regulated lender, including experience leading such operations through transformation while maintaining strong service. A strong understanding of the role a robust collections and recoveries business plays within the credit risk and operations strategy of a lending business is required, along with deep knowledge of UK consumer credit regulations and a track record of leading analytical and product teams. Comfort working in a fast-moving and changing environment is also necessary.

Responsibilities

The Director of Collections & Recoveries will lead the Financial Health operations team, ensuring customers in financial difficulty are responded to in a timely manner and supported with payment and forbearance options. Responsibilities include partnering with borrowing, tech, and credit risk leadership to deliver a robust financial health strategy, managing a team of senior managers, operational managers, and collections managers to ensure good customer outcomes, and navigating the complex regulatory landscape to ensure compliance. The role also involves owning collections and recoveries quality assurance and controls, working with the strategy team to deliver recoveries strategies, leading the Financial Health Operations Strategy, collaborating across wider Monzo Operational domains, achieving service metrics, and presenting risk appetite metrics to committees.

Skills

Collections

Recoveries

Financial Health

Arrears Management

Payment Plans

Forbearance Options

Credit Risk

Lending Products

Leadership

Team Management

Customer Service

Problem Solving

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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