At a Glance
- Tasks: Lead credit risk strategies and optimise customer journeys for innovative lending products.
- Company: Join Monzo, a forward-thinking UK banking platform revolutionising finance.
- Benefits: Flexible hours, £1,000 learning budget, relocation support, and inclusive culture.
- Other info: Diverse and inclusive workplace focused on personal growth and development.
- Why this job: Make a real impact in a fast-paced environment while shaping the future of credit.
- Qualifications: Experience in unsecured lending and strong analytical skills, especially in SQL.
The predicted salary is between 100000 - 130000 £ per year.
Monzo is a UK‑based banking platform that has expanded from a prepaid card into personal and business accounts, joint and youth accounts, free kids accounts, credit cards, savings and investment products, and pension services. The company aims to eliminate complexity in banking and provides financial education and award‑winning customer service. The Borrowing team focuses on personal credit, driving growth for new and existing products.
Location and Compensation: London or Remote within the UK. Salary: £100,000 – £130,000 plus incentive awards tied to performance and benefits.
The Data Discipline drives a culture of data‑driven decision making. The Borrowing (lending) business is growing rapidly with the Flex product that redefines credit cards to give customers more visibility and control over spending. The Credit Risk Manager leads the credit, pricing and distribution strategies for Flex expansion, working closely with a company‑wide data platform using Looker.
Responsibilities:
- Drive Distribution Strategy: develop and execute credit risk frameworks for new and expanding acquisition channels, including aggregator sites, paid marketing and referral networks.
- Optimise the Customer Journey: design, test and deploy sophisticated underwriting and real‑time decisioning strategies that balance a seamless, low‑friction customer onboarding experience with robust risk management.
- Shape Product & Pricing Economics: own the risk architecture for complex commercial propositions, evaluating the risk‑reward profiles of promotional 0% offers, introductory features and dynamic pricing structures.
- Champion Economic Modelling: oversee or partner closely on credit risk valuations (including NPV modelling and affordability strategies) to ensure underwriting decisions are grounded in highly optimised lending economics.
- Lead and Scale a High‑Performing Team: hire and develop a lean team of elite analysts as we expand, fostering a culture of technical excellence, accountability and commercial impact.
- Cross‑Functional Collaboration: act as the primary credit risk partner to a cross‑functional squad, working with product, marketing, design, engineering, fraud, machine learning and the wider Flex credit ecosystem.
- Executive Visibility: own performance tracking and monthly monitoring for new origination streams, translating complex credit data into clear, actionable insights for senior leadership up to executive level.
Qualifications:
- Commercial, strategic credit leader with extensive experience in unsecured lending, ideally with a background in credit cards.
- In‑depth understanding of lending economics, risk‑based pricing, promotional lending constructs and underwriting strategies.
- Track record of driving growth through varied distribution networks (e.g., aggregators or digital marketing channels) and appreciation of the unique risk profiles they carry.
- Exceptional stakeholder management, thriving when collaborating across diverse disciplines and aligning Product, Marketing, Fraud and Machine Learning teams behind a unified goal.
- Experience leading and developing analytical talent, excited about building and scaling a small, high‑impact team.
- Strong analytical and data capabilities backed up by technical coding skills (SQL is a must; Python and Looker experience is a plus).
- Highly motivated by fast‑paced, zero‑to‑one environments – enjoying ambiguity, designing frameworks from scratch, and shipping meaningful changes to millions of customers.
Benefits:
- Relocation support to the UK.
- Visa sponsorship.
- Flexible working hours and trust 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.
- Additional benefits available – see full list of benefits.
Equal Opportunities:
Equal opportunities for everyone. 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, veteran, neurodiversity or disability status.
Credit Risk Manager, Flex Originations in London employer: Somi AI
Monzo is an exceptional employer that champions a culture of innovation and inclusivity, making it an ideal place for a Credit Risk Manager to thrive. With flexible working arrangements, a generous learning budget, and a commitment to employee growth, Monzo empowers its team members to excel in their roles while contributing to a mission that simplifies banking for everyone. Located in London or available for remote work across the UK, Monzo offers a dynamic environment where your expertise in credit risk can drive meaningful change.
