Credit Risk Director, Flex Portfolio Management (m f x)

We are waving goodbye to the complicated and confusing ways of traditional banking. After starting as a prepaid card, our product offering has grown significantly in the last 10 years in the UK. We 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 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 are not about selling products - we want to solve problems and change lives through Monzo.

About The Team: Our Borrowing (lending) business is growing rapidly across both existing products and the planned launch of new initiatives. We aim to create a genuine feel-good factor when it comes to personal credit and are looking for driven, analytical, and creative individuals to help us achieve this goal.

With our Flex product, we are reinventing credit cards to give customers more visibility and control over their spending. Our portfolio is growing rapidly, and we are expanding our team to support our future growth ambitions. We are looking for a Director to lead the credit strategy for existing Flex customers. You will lead the team responsible for building a broad set of credit risk, pricing, engagement, and retention strategies as the portfolio grows and diversifies.

Our credit teams are part of our Data Discipline, which drives a strong culture of data-driven decision making across the whole company. We believe in powerful, real-time analytics and empowerment of the wider business. All our data lives in one place and is super easy to use. 90% of day-to-day data-driven decisions are covered by self-serve analytics through Looker, which gives analysts the headspace to focus on more impactful business questions and analyses.

Join a team where your ideas can rapidly transform into reality, leveraging our cutting-edge technology and agile ways of working. Our credit analysts and managers are fully embedded into a product squad alongside Product Managers, Engineers, Designers, Marketers, Customer Researchers, and Data Scientists. This enables us to solve customer problems in a fast-paced and innovative way.

• Lead and grow a team that will build and evolve a broad range of customer management strategies for our rapidly growing and increasingly diverse Flex portfolio.
• Work closely with squad leadership to develop and execute an ambitious growth strategy for Flex.
• Design best-in-class monitoring and reporting capabilities to understand and forecast performance in a rapidly changing portfolio.
• Partner closely with key stakeholders including Capital, Impairments and Forecasting, Financial Health (Collections and Recoveries), Fraud, Finance, and Second Line Credit Oversight.
• Oversee the development and maintenance of the NPV models and affordability strategies that underpin the underwriting decisions for existing Flex customers.
• Promote a culture of proactive, high-quality analysis and ensure we have the right credit capabilities, infrastructure, and talent in place to scale safely.
• Collaborate with the Machine Learning team to maximise value from our internal and external data through cutting-edge ML models.
• Be a member of the Borrowing Credit Leadership team which drives our vision to build a best-in-class credit function.

You have multiple years of experience in unsecured lending, especially credit cards. You are comfortable getting hands-on as well as taking a step back and thinking strategically and proactively identifying opportunities. You have a working understanding of the regulations that apply to lending in the UK and experience working at banks with growing lending portfolios. You have a track record of leading analytical teams and are a clear and precise communicator, able to cut through complex problems and articulate decision points for our executive team. You are comfortable working in a fast-moving and changing company.

(Ideally) you have working knowledge of SQL and Python. We can help relocate to the UK and can sponsor visas. This role can be based in our London office, but we are open to distributed working within the UK (with ad hoc meetings in London). We offer flexible working hours and trust you to work enough hours to do your job well, at times that suit you and your team. There is a learning budget of £1,000 a year for books, training courses, and conferences.

Our interview process involves three main stages. We promise not to ask you any brain teasers or trick questions!

• Initial call with the hiring manager.
• Final loop of interviews meeting the team.

This process should take around 3-4 weeks - your schedule is really important to us, so we promise to be as flexible as possible.