Senior Credit Manager, Business Borrowing

Position Overview

• Location Type: London or Remote (UK)
• Job Type: Full-time
• Salary: £119,000 - £161,000 + Options + Benefits

🚀 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 ❤️

About the Team

Our Borrowing (lending) team is growing and we’re looking for Credit Managers and Analysts for our credit risk function, to grow lending to our business banking customers. The ideal candidate should have knowledge of providing credit to small and medium size sole traders and limited companies, automated decisioning and Credit Risk Management activities. You will work in the credit risk team responsible for credit strategy for our business lending products. As the size of our Business Banking customer base grows, we are building lending products to support our customers funding needs. 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.

Responsibilities

• Leading initiatives designing and implementing 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
• Working with people from engineering, marketing, product, risk and control to design and deliver initiatives
• 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
• Supporting the design and roll-out of new lending strategies by finding patterns in the data and translating these into insights
• Promoting a data culture through robust database tables and dashboards that provide insights and support data-driven decisions
• Assessing how the lending portfolio of particular products will perform over time
• Mentoring and managing a team of credit analysts

Requirements

• Strong domain expertise in providing lending products to small businesses
• Deep understanding of how business lending works, including regulation and industry best practice
• Solid understanding of lending economics and experience developing and deploying underwriting strategies and credit models
• Strong analytical and data capabilities, backed by technical coding skills
• SQL is a must-have
• Python and Looker experience is a plus
• You can bring a dynamic approach to problem-solving and strategy development.

Company Information

Monzo is on a mission to make money work for everyone. We are 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 ❤️