Monzo
Credit Risk Director, Flex Originations (Credit Cards)
Job Summary
This role involves leading the credit and pricing strategy for Monzo's Flex credit products, focusing on developing models and approaches to manage risk and growth. The candidate will oversee a team of analysts and collaborate closely with product and data teams to implement data-driven solutions. Experience in unsecured lending, especially credit cards, and familiarity with UK lending regulations are essential. The position emphasizes innovation, agile working, and contributing to Monzo's mission to make banking simpler and more accessible.
Required Skills
Benefits
Job Description
🚀 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 ❤️
Hear from our UK team about what it's like working at Monzo ✨
📍London or Remote (UK) | 💰 £155-175,000 + Options + Benefits
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. Our portfolio is growing rapidly and we’re expanding our team to support our future growth ambitions. We’re looking for a Director to lead the credit strategy for Flex originations. You will lead the team responsible for developing the credit and pricing strategies as we evolve our existing propositions and develop new products and distribution strategies.
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.
How you’ll contribute:
- Lead a team that will develop credit and pricing strategies for our growing range of Flex products and distribution channels
- Work closely with squad leadership to develop and execute an ambitious growth strategy for Flex
- Oversee the development and maintenance of the NPV models and affordability strategies that underpin the Flex underwriting decisions
- Promote a culture of proactive, high quality analysis and ensure we have the right credit capabilities, infrastructure and talent in place to scale safely
- Collaborate with the Decision Science team to maximise value from our internal and external data through cutting-edge ML models
- Partner closely with key stakeholders including Capital, Impairments and Forecasting, Financial Health (Collections and Recoveries), Finance, Second Line Credit Oversight
- Be a member of the Borrowing Leadership Team which drives Monzo's overall borrowing strategy
You should apply if:
What we’re doing here at Monzo excites you!
- You have multiple years of experience in unsecured lending, especially credit cards
- You’re as comfortable getting hands-on as well as taking a step back and thinking strategically and proactively identifying opportunities
- You have a working understanding of the regulations that apply to lending in the UK
- You have experience working at banks with growing lending portfolios
- You have track record leading analytical teams
- You are a clear and precise communicator, able to cut through complex problems and articulate decision points for our executive team
- Are comfortable working in a fast-moving and changing company
- (Ideally) you have working knowledge of SQL and Python
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. You will have the chance to speak to our recruitment team at various points during your process but if you do have any specific questions ahead of this please contact us on [email protected]
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
➕And much more, see our full list of benefits here
#LI-REMOTE #LI-NJ1
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. You can read more in our blog, 2024 Diversity and Inclusion Report and 2024 Gender Pay Gap Report.
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.
If you have a preferred name, please use it to apply. We don't need full or birth names at application stage 😊
Monzo
Organise, save & invest with a free UK current account, joint account or business account. Make your money more Monzo.
See more jobsSafe Remote Job Search Tips
Verify Employer Thoroughly
Research the company's identity thoroughly before applying. Check for a professional website with contacts, active social media, and LinkedIn profiles. Verify details across platforms and look for reviews on Glassdoor or Trustpilot to confirm legitimacy.
Never Pay to Get a Job
Legitimate employers never require payment for applications, training, background checks, or equipment. Always reject upfront payment requests or demands for bank details, even if they claim it's for purchasing necessary work gear on your behalf.
Safeguard Your Personal Information
Protect sensitive data like SSN, bank details, or ID copies. Share this only after accepting a formal, written job offer. Ensure it's submitted via a secure company system or portal, never through insecure channels like standard email attachments.
Scrutinize Communication & Interviews
Watch for communication red flags: poor grammar, generic emails (@gmail), vague details, or undue pressure. Be highly suspicious of interviews held only via text or chat apps; legitimate companies typically use video or phone calls.
Beware of Unrealistic Offers
If an offer's salary or benefits seem unrealistically high for the work involved, be cautious. Research standard pay for similar roles. Offers that appear 'too good to be true' are often scams designed to lure you into providing information or payment.
Insist on a Formal Contract
Always secure and review a formal, written job offer or employment contract before starting work or sharing final personal details. Ensure it clearly defines your role, compensation, key terms, and conditions to avoid misunderstandings or scams.