Senior Data Scientist - Credit & Lending
MercurySalary not specified
- Full Time
- Senior (5 to 8 years), Junior (1 to 2 years)
£55,000 – £95,000Compensation
Senior (5 to 8 years)Experience Level
Full TimeJob Type
UnknownVisa
Financial ServicesIndustries
Position Overview
- Location Type: Cardiff, London or Remote (UK)
- Job Type: Full-time
- Salary: £55,000 - £95,000 + Benefits
- Company: Monzo
Description: Monzo is on a mission to make money work for everyone. They’ve evolved from a prepaid card to offer a wide range of banking services, including personal and business accounts, joint accounts, and credit cards. They focus on solving problems and changing lives through innovative financial solutions and award-winning customer service. The Borrowing Credit & Data team is a core part of Monzo’s lending business, responsible for designing products, setting underwriting policy, managing risk, and computing core metrics. Their mission is to Enable Monzo to Make Better Decisions, Faster. They are scaling up their Capital, Impairment and Forecasting modelling team to support portfolio growth.
Requirements
- Strong data and analytical skills
- Deep expertise in credit risk modelling
- Knowledge of IFRS 9 provision methodology
- Experience in:
- Stress testing
- IRB modelling
- Retail credit originations
- Net Present Value modelling
- Scorecard modelling
- Capital modelling
Responsibilities
- End-to-end development and maintenance of IFRS 9 models (PD, EAD, LGD)
- Construction of post-model adjustments / model overlays as and when required
- Implementation of new models
- Development and maintenance of economic-response models for scenario simulation and impairment
- Oversight and enhancement of existing models
- Regular interaction with senior management regarding model performance and updates.
Application Instructions
- (Information not provided in the job description)
Company Information
- Company: Monzo
- Mission: To make money work for everyone.
- Product Offering: Personal and business bank accounts, joint accounts, accounts for 16-17 year olds, a free kids account, credit cards, savings, investments, and pension consolidation.
- Team: Borrowing Credit & Data Team - a core part of Monzo’s lending business.
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.
London, United KingdomHeadquarters
2015Year Founded
$1,856.7MTotal Funding
LATE_VCCompany Stage
Fintech, Financial ServicesIndustries
1,001-5,000Employees