Credit Risk Manager, Monzo
€108-132k
+ Incentive Awards
2-3 days a week in office
Digital-only bank platform and marketplace
Be an early applicant
Digital-only bank platform and marketplace
1001+ employees
Be an early applicant
€108-132k
+ Incentive Awards
2-3 days a week in office
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- You have extensive experience in unsecured lending in Ireland
- You have a deep 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 have experience with the development and maintenance of NPV models
- You have a strong understanding of the regulations that apply to lending in Ireland
- You have track record leading and developing analytical teams
- You thrive in a fast-paced environment 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, particularly to senior leadership
- You have experience in project management and coordination across teams
- You work well collaborating in a team with diverse skill-sets and personality types
- You are highly motivated and energised by the idea of bringing a positive impact to our customers and Monzo
What the job involves
- 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
- We’re looking for a Credit Risk Manager to help drive the credit and growth strategy for our consumer lending products as we grow our business in Ireland. You will lead a team of analysts responsible for developing the credit and pricing strategies as we bring our products to market across the EU
- 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
- Join a team where your ideas can rapidly transform into reality, leveraging our cutting-edge technology and agile ways of working. Our credit analysts and managers are fully embedded into a product squad alongside Product Managers, Engineers, Designers, Marketers, Customer Researchers, Data Scientists etc
- This enables us to solve customer problems in a fast paced and innovative way
- Lead a team of analysts that will develop credit and pricing strategies for our Borrowing products and distribution channels
- Work closely with Borrowing squad leadership to develop and execute an ambitious growth strategy
- Collaborate with people from engineering, marketing, product, risk and control to design and deliver new products and customer journeys
- Lead the development and maintenance of the NPV models and affordability strategies that underpin the Borrowing underwriting decisions
- Monthly monitoring and reporting on Borrowing performance to stakeholders up to executive level
- Build, maintain and own the database tables and dashboards that provide insights and promote rapid, data-driven decisions
- Collaborate with the Decision Science team to maximise value from our internal and external data through cutting-edge ML models
- Promote a culture of proactive, high quality analysis and ensure we have the right credit capabilities, infrastructure and talent in place to scale safely
Application process
- Recruiter call
- Initial call with the hiring manager
- Final loop of interviews (x3)
- This process should take around 3-4 weeks - your schedule is really important to us, so we promise to be as flexible as possible!
- We’ll only close this role once we have enough applications for the next stage. Please submit your application as soon as possible to make sure you don’t miss out
- If you're successful in applying for this role, we'll work with you to find a start date. In some cases, there might be a delay in when you can be released from your current role so that we can make sure things continue to run smoothly. We’ll be sure to communicate this with you and keep you updated
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 active users. The company faces competition from more traditional banks, such as Goldman Sachs and JP Morgan, which 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
Company
Funding (last 2 of 18 rounds)
May 2024
$190m
LATE VC
Mar 2024
$459.1m
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 HQ
City of London, London, UK
Leadership
TS Anil
(CEO)Also a Board Member at Accion. Previously Board Member at UK Finance, Global Head of Payments, Products & Platforms at Visa and was the Global Head of Retail Products at Standard Chartered Bank.
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