At a Glance
- Tasks: Lead the creation of a new credit risk function and shape innovative lending products.
- Company: Join a dynamic fintech focused on financial inclusion and customer empowerment.
- Benefits: Enjoy 25 days annual leave, private healthcare, hybrid working, and learning opportunities.
- Other info: Be part of a diverse team with excellent career growth potential.
- Why this job: Make a real impact in a fast-paced environment while helping underserved customers.
- Qualifications: Senior credit risk experience in UK consumer lending and knowledge of regulations required.
The predicted salary is between 75600 - 92400 £ per year.
Location: London / hybrid
Reports to: CFO
Type: Permanent, full-time
Level: Head of role
About Pockit and Monese
Pockit and Monese are all-in-one money apps that make it easier for people to access and manage the financial tools they need to take control of their money. We provide vital financial services, from accounts and cards to income advance solutions. In October 2024, Pockit acquired Monese, bringing together two complementary businesses and creating a leading fintech company focused on serving people who are underserved by traditional banks. We're a diverse, international and energetic team, with colleagues based across London, Newcastle, Tallinn and remote teams across Central Europe. We give people the trust and space to take ownership, share ideas, influence decisions, and make a real impact on our customers and our business.
The role
We hold a UK consumer credit licence and are now building a regulated lending business in our own right. This is a rare, genuinely greenfield mandate: you will stand up the credit risk function from the ground up and play a central role in shaping the lending products themselves: not inherit someone else's book and policy. You'll be the senior owner of credit risk, accountable to the executive team and central to our engagement with the FCA. We're looking for someone who has done the hard 0-to-1 work of launching a new UK credit product before, and wants to do it again, but better.
Because we serve financially underserved customers, good customer outcomes and responsible lending aren't a compliance afterthought here; Partner with Product, Finance, Legal & Compliance to take our lending propositions from concept to launch: defining what we lend, to whom, on what terms, and how we price for fair value. Your credit thinking will directly inform product design, not just sign off on it after the fact.
Own credit strategy and policy: Set our risk appetite and credit policy for a new regulated consumer credit product: lending criteria, affordability and creditworthiness assessment, and the decisioning approach: built on credit bureau data, Open Banking, and our own rich account-behaviour data.
Own the selection and procurement of our loan management / decisioning platform end-to-end — requirements definition, RFI/RFP, vendor evaluation, commercial negotiation and implementation oversight, working with Tech and Product on bureau, Open Banking and payments integration.
Design and stand up collections: Build our arrears and collections strategy in line with CONC 7 (forbearance, vulnerable customers, fair treatment), spanning early, mid and late-stage. Select and manage outsourced/third-party collections partners, and own the commercial and oversight relationship with them.
Ensure the product and all credit processes satisfy FCA requirements: CONC, the Consumer Duty (target market, fair value, outcomes monitoring) and the Consumer Credit Act. Support our regulatory engagement, including the Principle 11 notification and any Variation of Permission, and be ready to hold the relevant Senior Managers & Certification Regime function.
Own portfolio performance: Establish credit risk MI and reporting; own loss forecasting, IFRS 9 provisioning, vintage and portfolio analysis, and the feedback loop back into policy.
Start hands-on, then hire and lead the credit risk function as the book scales.
What you'll bring
- Senior credit risk leadership experience in UK consumer lending - at a bank, lender, or fintech.
- Demonstrable experience taking a new UK consumer credit product from zero to launch: you have done the greenfield build, not just managed a mature portfolio.
- Deep, current knowledge of UK consumer credit regulation: CONC, the Consumer Duty, the Consumer Credit Act, and affordability/creditworthiness requirements.
- Collections experience, ideally including outsourcing: designing arrears strategy and selecting/managing third-party collections partners.
- Strong credit risk modelling foundation: affordability assessment, scorecards and decisioning, and fluency with credit bureau and Open Banking data.
- Experience with running-account credit or overdrafts, and/or point-of-sale, BNPL or "borrow-against-a-purchase" style lending.
- Awareness of lending capital and funding structures (balance-sheet lending, warehouse facilities, forward-flow).
Regulatory & conduct
Depending on our final governance structure, it is expected to be a Senior Management Function or Certification Function under the FCA's Senior Managers & Certification Regime, subject to regulatory approval and ongoing fitness-and-propriety requirements.
Work at the intersection of technology and financial inclusion, helping people take greater control of their money.
Grow with us: Be part of a fast-moving fintech where you'll have plenty of opportunities to learn, develop and make your mark.
What benefits we offer
We want you to feel supported, valued and able to do your best work - both in and outside the office.
- 25 days annual leave + public holidays, with an extra day for every year worked
- Healthcare: Private medical with Confido, sports compensation with Stebby or discount from a gym.
- 10 paid sick days per year
- Hybrid working + up to 30 days working abroad each year
- L&D budget + 10 paid learning days per year
- Annual eyecare allowance
- Enhanced maternity, paternity and shared parental leave
- VIP Pockit & Monese accounts
- Extra paid days off for your birthday and wedding
- Regular social events and team activities
- Monthly recognition awards and Team of the Quarter
- Share options, depending on role and level
- Employee referral bonus
- Free office parking
The use of AI tools or applications during interviews is not permitted.
Manager, Credit Risk (Permanent) in London employer: Monese
Monese is an exceptional employer that fosters a dynamic and collaborative work culture, where innovation and teamwork are at the forefront of our operations. Located in a vibrant environment, we offer competitive benefits, opportunities for professional growth, and the chance to make a significant impact in the fintech space. Join us to be part of a forward-thinking team dedicated to transforming the way people manage their finances.
StudySmarter Expert Advice🤫
We think this is how you could land Manager, Credit Risk (Permanent) in London
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
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Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like Monese. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Manager, Credit Risk (Permanent) in London
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Monese.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Monese's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Monese
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Monese.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Monese will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Monese employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
