Monzo

Senior Provisioning and Forecasting Modeller, Borrowing

Cardiff, Wales, United Kingdom

£55,000 – £95,000Compensation
Senior (5 to 8 years)Experience Level
Full TimeJob Type
UnknownVisa
Financial ServicesIndustries

Requirements

Candidates should possess a Bachelor’s degree in a relevant field, such as Mathematics, Statistics, Economics, or Finance, and have at least 5 years of experience in credit risk modelling, with a strong understanding of IFRS 9 provision methodology and capital requirements. Experience in stress testing, IRB modelling, retail credit originations, Net Present Value modelling, and Scorecard modelling is desirable.

Responsibilities

The Senior Provisioning and Forecasting Modeller will be responsible for the end-to-end development and maintenance of IFRS 9 models (PD, EAD, LGD), construction of post-model adjustments / model overlays, implementation of new models, and development and maintenance of economic-response models for scenario simulation and impairment. They will also oversee model performance, construct PMAs/model overlays where necessary, and engage with senior management on a regular basis to ensure accurate and timely reporting of credit risk metrics.

Skills

Credit Risk Modelling
IFRS 9 Provision Methodology
Stress Testing
IRB Modelling
Retail Credit Originations
Net Present Value Modelling
Scorecard Modelling
Capital Modelling
Data Analysis
Model Development and Maintenance
Scenario Simulation
Model Oversight

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.

Key Metrics

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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