Monzo

Lead Data Scientist

Cardiff, Wales, United Kingdom

£95,000 – £115,000Compensation
Senior (5 to 8 years)Experience Level
Full TimeJob Type
UnknownVisa
Financial Services, Banking, FintechIndustries

Position Overview

  • Location Type: London | UK remote
  • Job Type: Full-time
  • Salary: £95,000 to £115,000 + Stock Options + Benefits
  • Company: Monzo

Description: Monzo is on a mission to make money work for everyone, moving away from the complicated and confusing ways of traditional banking. Starting as a prepaid card, Monzo's product offering has significantly grown over the last 10 years in the UK. They offer personal and business bank accounts, joint accounts, accounts for 16-17 year olds, a free kids account, and credit cards in the UK, with more offerings planned. UK customers can also save, invest, and combine their pensions with Monzo. Known for their hot coral cards, get-paid-early feature, financial education on social media, and award-winning customer service, Monzo aims to create magical moments for its customers by solving problems and changing lives.

About Our Data Science Teams

Monzo is seeking a Lead Data Scientist to help build the bank of the future and enhance user engagement in 2025. The goal is to build a bank that customers truly love, characterized by fairness, transparency, and ease of use. Monzo's product is highly regarded, with over 80% of its growth stemming from word-of-mouth and referrals. The company empowers its teams to Make Better Decisions, Faster, fostering a strong culture of data-driven decision-making. Real-time analytics and business empowerment are key. All data is centralized and easily accessible, with 90% of day-to-day data-driven decisions supported by self-serve analytics through Looker. This setup allows data scientists to concentrate on more impactful business questions and analyses.

Responsibilities

  • Lead the data strategy and continue to evolve Monzo to make it magically simple for customers to manage their money day-to-day.
  • Develop and execute best practices for experimentation to enable the team to make data-informed decisions.
  • Collaboratively set standards and work with data across Monzo, fostering knowledge sharing and continuous improvement.

Requirements

  • (Details are missing from the provided text)

Application Instructions

  • (Details are missing from the provided text)

Company Information

  • Customer Base: Over 11 million customers in the UK
  • Growth Strategy: More than 80% of growth is driven by word of mouth and referrals.
  • Company Culture: Emphasizes data-driven decision making, fairness, transparency, and creating a delightful user experience.

Skills

Data Strategy
Data Science
Real-time Analytics
Looker
Data-Driven Decision Making
Business Analysis
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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