Senior Credit Analyst, Monzo
Business Borrowing
£65-85k
Plus stock options
More information about location
Digital-only bank platform and marketplace
Open for applications
Digital-only bank platform and marketplace
1001+ employees
Open for applications
£65-85k
Plus stock options
More information about location
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- The ideal candidate should have knowledge of providing credit to small and medium size sole traders and limited companies, automated decisioning and Credit Risk Management activities
- You have strong domain expertise in providing lending products to small businesses
- You have a deep understanding of how business lending works, including regulation and industry best practice
- You have a solid understanding of lending economics and have experience developing and deploying underwriting strategies and credit models
- You have strong analytical and data capabilities, backed up by technical coding skills. SQL is a must-have, Python and Looker experience is a plus
- You can bring a dynamic energy to the team, and are keen for the chance to improve our products and help ship changes to our customers
- You are a strong communicator, able to cut through complex problems and articulate decision points
- You have some experience in project management and coordination across teams
- You work well collaborating in a team with diverse skill-sets and personality types
- You have a working understanding of the regulations that apply to lending in the UK
- You are highly motivated and energised by the idea of bringing positive impact to our customers and Monzo
What the job involves
- Our Borrowing (lending) team is growing and we’re looking for Credit Managers and Analysts for our credit risk function, to grow lending to our business banking customers
- You will work in the credit risk team responsible for credit strategy for our business lending products
- As the size of our Business Banking customer base grows, we are building lending products to support our customers funding needs
- We aim to create a genuine feel-good factor when it comes to business credit, and are looking for driven, analytical and creative individuals to help us achieve this goal
- With your experience of developing credit risk strategies specifically for small and medium enterprises and building best in class credit capabilities, you'll help drive the success of Monzo's borrowing propositions
- You will be responsible for developing our credit and pricing strategies as we bring to market new lending products
- You will work with colleagues across teams to make sure we are building profitable lending portfolios and amazing products for our customers
- Leading initiatives designing and implementing credit and pricing strategies for our business lending products
- Monitoring the performance of our existing strategies, and iterating to improve them
- Supporting the design and roll-out of new products and customer journeys
- Leading initiatives to improve our credit underwriting, boost growth and/or manage portfolio risk
- Working with people from engineering, marketing, product, risk and control to design and deliver initiatives
- Developing and monitoring our credit models to forecast cash flows and assess net present value of new lending cohorts
- Writing credit proposals which will be adopted as Monzo underwriting policy
- Supporting the design and roll-out of new lending strategies by finding patterns in the data and translating these into insights
- Building, maintaining & responsible for the database tables and dashboards that provide insights and promote rapid, data-driven decisions
- Assessing how the lending portfolio of particular products will perform over time
Application process
- Our interview process involves 4 main stages:
- Recruiter Call
- Initial Call
- Take Home Task
- Final stage (x3 interviews) consisting of a case study, role specific and values interview
- Our average process takes around 3-4 weeks but we will always work around your availability
Salary benchmarks
Our take
Monzo is a challenger bank that fully operates online and offers a full range of current, savings, business accounts, and more. The speed of the challenger banks to provide a great experience has been impressive, and the number of competitors appearing has proven the consumer desire for innovation.
Monzo remains one of the popular online banks, with more than 6 million customer active users. The company faces competition as more traditional banks, such as Goldman Sachs and JP Morgan, have launched their own digital banks. However, the new technologies that the company is built on enable it to expand quickly (with fewer issues) than the incumbent players' offerings.
With an increasing amount of people switching banks, the company's ever-expanding suite of banking and financial services (such as its buy-now-pay-later offering) has resulted in Monzo receiving the second-highest net switching gains among digital challenger banks (just behind Starling).
After setting U.S. expansion plans aside in 2020, the company launched in the U.S. market in early 2022, partnering with Sutton Bank to provide its U.S. accounts. After several years focused on narrowing its losses, Monzo hit profitability in the first two months of 2023. In the same year, 2 million new customers joined, tallying its customer base at 9 million in 2024.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
Many candidates hear
back within 2 weeks
42% female employees
19% employee growth in 12 months
Company
Funding (last 2 of 18 rounds)
May 2024
$190m
LATE VC
Mar 2024
$429.6m
LATE VC
Total funding: $1.9bn
Company benefits
- Yearly Salary Review + Proactive pay increases to reflect growing responsibilities + Share options
- Flexible working hours
- Work From Home Opportunities + we'll pay for any equipment you need to do your job
- 24 days holiday a year, plus bank holidays
- Paid sick leave for both physical & mental health + Health insurance via AXA or Vitality + Additional health insurance through Medicash
- Employee Assistance Programme
- Learning budget of £1,000 a year
- Aviva Pension Scheme + 4% Employer Contribution
- Paid maternity, paternity, adoption or shared parental leave (after 13 weeks of employment)
- 52 weeks of primary caregiver leave (6 months at 100% pay, 13 weeks at Statutory Maternity Pay, 13 weeks unpaid)
- 3 months of secondary caregiver leave at 100% pay
- Unum Life Insurance
- Access to fertility and family-forming health benefits via Fertifa
- Abellio Season Travel Tickets + Cycle-to-Work Scheme
Company values
- Be hard on problems, not people 🙌 We create supportive communities to help people thrive.
- Make a difference 🚀 We solve real problems, working on things that have the biggest impact for our customers and each other.
- Help everyone belong 🤗 We’re building a bank for everyone. We embrace differences and make sure everyone feels welcome.
- Think customer first; grow Monzo safely 🥕 We always do what's best for customers. It's the right thing to do and the safest way to grow.
- Default to transparency 🎤 We’re open with each other and customers unless we have good reason not to be.
- Think big, start small, own it 🌲 We’re ambitious and shoot for the moon, working iteratively to get the best results.
Company HQ
City of London, London, UK
Articles
Leadership
Jonas Templestein
(CTO)Founder of HipDial. Former Software Engineer at Starling Bank.
People progressing
Joined in the Customer Operations team. Moved to be a Financial Crime Analyst after 5 months. Then moved again to be a Business Analyst after 2.5 years. Currently working as a Senior Product Manager.
Share this job
View 35 more jobs at Monzo