Credit Risk Manager, Portfolio Management in London

We’re on a mission to make money work for everyone. We’re waving goodbye to the complicated and confusing ways of traditional banking. After starting as a prepaid card, our product offering has grown a lot in the last 10 years in the UK. 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.

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’re reinventing credit cards to give customers more visibility and control over their spending. Flex portfolio management is currently in its infancy—meaning this role is a true "zero-to-one" blank canvas. Flex behaves differently from a standard credit card, so we are looking for a highly strategic Credit Risk Manager who can challenge legacy banking assumptions, think from first principles, and put the customer at the heart of our lifecycle strategies.

You will lead an initial team of 3 credit analysts (with scope to grow the team over time) to unlock massive P&L and customer engagement potential on a rapidly growing portfolio. While the immediate focus is scaling safely in the UK, you will help lay the groundwork for a global footprint as Monzo expands into Europe. Our credit teams are part of our Data Discipline which drives a strong culture of data-driven decision making across the whole company. We’re great believers 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 head space to focus on more impactful business questions and analyses.

Your day-to-day:

• Own Portfolio Monitoring & Forecasting: Build and oversee robust performance frameworks to monitor and forecast both risk and revenue metrics, ensuring our rapidly growing portfolio scales sustainably.
• Drive Contractual Pricing Strategies: Architect and optimise an ongoing risk-based pricing program that balances commercial viability and fair customer outcomes.
• Fuel Engagement & Retention Loops: Design and deploy sophisticated credit strategies for lifecycle events, including product upgrades, engagement incentives, and balance transfer propositions that deepen customer loyalty.
• Execute Data-Driven Loss Mitigation: Develop proactive risk management frameworks—such as credit limit decrease strategies—to safely mitigate losses and support financially vulnerable customers.
• Lead and Nurture Talent: Manage, coach, and scale a high-performing team of 3 credit analysts, fostering a culture of technical excellence, continuous learning, and strong commercial focus.
• Cross-Functional Squad Collaboration: Act as the embedded credit risk expert within a multi-disciplinary squad, working side-by-side with Product, Engineering, Design, Marketing, Customer Research, and Risk & Control.
• Cross-functional Leadership: Build deep collaborative ties with wider credit functions and manage relationships with 2nd Line Credit Risk, Legal, and Compliance, while translating complex data into clear narratives for executive-level stakeholders.

How we work: Our main tech hub is in London, but our data teams are based all over the UK — from Brighton to the Western Isles. We love meeting in person, but there’s no pressure to come into the office, even if you’re nearby. You’ll do your best work where you feel most comfortable. We value flexibility, connection, and wellbeing. You’ll have the freedom to work in a way that fits your life, whether that’s school drop-offs, avoiding rush hour, or making time for what matters most. Work the way that works for you at Monzo!

You should apply if:

• What we’re doing here at Monzo excites you!
• You are a commercial, strategic credit leader with a deep understanding of unsecured lending portfolios—ideally with exposure to credit card lifecycle management.
• You thrive in ambiguous, "zero-to-one" environments. You love building strategies from scratch, questioning traditional banking norms, and working at pace.
• You have portfolio management experience, including risk-based pricing, retention, product upgrades, and loss mitigation strategies.
• You are a champion for both Credit and Conduct Risk. You naturally balance sharp credit instincts with a passion for protecting customers and delivering delightful experiences.
• You are an exceptional stakeholder manager and storyteller. You can smoothly collaborate with engineering squads, align with legal and compliance partners, and influence up to executive leadership.
• You love developing people. You have a proven track record of leading analytical talent and are energized by the prospect of managing and growing a high-impact team.
• You have strong technical and data capabilities. You are comfortable digging into data yourself and driving a data-first culture (SQL is a must-have; Python and Looker experience is a plus).

The Interview Process: Our interview process involves 3 main stages. We promise not to ask you any brain teasers or trick questions!

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

Our average process takes around 3-4 weeks but we will always work around your availability.

What’s in it for you: We can help you relocate to the UK. We can sponsor visas. 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, at times that suit you and your team. Learning budget of 1,000 a year for books, training courses and conferences.

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. This is integral to our mission of making money work for everyone.

We’re an equal opportunity employer. All applicants will be considered for employment without attention to age, ethnicity, religion, sex, sexual orientation, gender identity, family or parental status, national origin, or veteran, neurodiversity or disability status.