Credit Risk Manager - Banking in London

We’re waving goodbye to the complicated and confusing ways of traditional banking. 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.

Our Borrowing (lending) business is growing rapidly across both existing products and with the planned launch of new initiatives. As our lending portfolio grows, our second line of defence Credit Risk Oversight team is growing with it - and we’re looking for a Credit Risk Oversight Manager to join us!

Our Credit Risk Oversight team is crucial in providing support and challenge to our Borrowing teams in the first line of defence to help Monzo grow safely. You will need proven experience in consumer credit risk, with a focus on analysing data to deliver independent assurance and challenge of credit risk management across the lifecycle. Ideally, you’ll have experience and in-depth knowledge of retail unsecured or small business credit risk strategy within financial services. You’ll have seen first-hand how a credit portfolio performs at different stages of the credit cycle and have hands-on experience in shaping or overseeing lending strategies.

Key Responsibilities:

• Providing ongoing oversight of credit risk, including analysing and understanding the performance of our existing lending products, developing and enhancing monitoring metrics, and providing input to relevant committees and forums.
• Partnering with our first line of defence teams to support credit strategy changes, including new product launches and pilots, ensuring that we deliver magical lending products for our customers while meeting our Risk Appetite.
• Delivering deep insight, feedback and challenge on our credit strategies, including data-driven analysis and actionable counter-proposals to support management decision making.
• Leading second line assurance work on thematic reviews.
• Collaborating with our model validation and model development teams to ensure understanding of the models that underpin our credit strategies.
• Providing credit expertise and input into relevant strategic projects and critical Monzo-wide processes, such as stress-testing and forecasting.
• Supporting us in maintaining our Credit Risk Framework and ensuring it is well embedded within the business.
• Taking a balanced and proportionate approach to risk management, making sure that managing risks becomes part of everyone at Monzo’s day-to-day role.

We’d love to hear from you if you:

• Have a strong background in credit risk management within consumer or small business lending; experience in unsecured products, such as credit cards, loans or overdrafts would be particularly beneficial.
• Have proven analytical skills and can use these to interrogate data, build monitoring and look for early indicators of trends.
• Have hands-on experience and/or understanding of how to use credit risk scorecards and NPV models to develop strategies for making credit decisions.
• Have a solid technical toolkit; SQL or similar is a must-have, and experience using a data visualisation tool (such as Looker, PowerBI or Tableau) is a plus.
• Are excited to explore how we can use AI tools to improve our credit and risk management processes.
• Can convey problems and solutions using clear and simple language, both written and verbal.
• Have a track record of building and maintaining trusting relationships with stakeholders while providing effective and respectful challenge.
• Are passionate about technology, and what we’re doing here at Monzo excites you!

This role can be based in our London office, but we're 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, and at times that suit you and your team. We provide a £1,000 learning budget each year to use on books, training courses and conferences. All employees are given Macbooks and for fully remote workers, we will provide extra support for your work-from-home setup.

The application journey has 4 key steps:

• An initial call with our recruiter.
• A call with one of our Credit Risk Oversight Managers, the hiring manager(s) for the role.
• A take-home task.
• Two competency-based interviews - one role-specific technical interview and one behaviours and values interview.

This process should take around 4-8 weeks - your schedule is really important to us, so we promise to be as flexible as possible!

Diversity and inclusion are a priority for us, and we’re making sure we have lots of support for all of our people to grow at Monzo. At Monzo, we’re embracing diversity by fostering an inclusive environment for all people to do the best work of their lives with us.