Credit Risk Oversight Director

📍Remote (UK) | 💰 £110,000 to £160,000 (flexible depending on experience)  + Benefits 

About us: 

We’re here to make money work for everyone and we're doing things differently. For too long, banking has been obtuse, complex and opaque.

We want to change that and build a bank with everyone, for everyone. Our amazing community suggests features, test the app and give us constant feedback so we can build something everyone loves.

We're focused on solving problems, rather than selling financial products. We want to make the world a better place and change people's lives through Monzo.

About our Credit Risk Oversight Team:

The second line of defence Credit Risk oversight team provides support and challenge to our credit risk team in the first line of defence to help Monzo grow safely. We’re looking for someone to lead the team, to collaborate to deliver insightful oversight and to build a high performing partnership with our 1st line Credit colleagues. 

Ideally you’ll have a broad experience and in-depth knowledge of retail unsecured and business credit risk in financial services, including knowledge of credit models. You’ll have seen how several credit portfolios develop at all stages of the credit cycle.  And you’ll have seen the many ways the performance of retail credit portfolios can be changed. You’ll have experience of influencing or shaping credit strategy and be comfortable working with executive stakeholders. You’ll also be someone who likes getting into the details, analysing data and providing constructive challenges.

Your day-to-day   

• Lead the credit risk oversight team and work closely with colleagues in the first line of defence to perform effective and insightful oversight.

• Own Monzo’s credit risk management framework with responsibility for embedding implementation and delivery for the second line of defence.

• Lead the oversight of retail credit risk, including risk appetite and reporting, portfolio monitoring. financial projections and inputs to provision requirements, capital requirements and regulatory submissions.

• Define and implement plans for oversight of credit risk strategy and underwriting for Monzo’s lending portfolios including loans, overdrafts, our Flex product, business lending and new credit products.

• Lead assurance activity on the lending portfolios, supporting the team in reviews of credit strategy, highlighting key risks and issues at executive and Board level.

• Act as member of the Credit Risk Committee, Model Risk Oversight Committee and Impairment Council.

• Steer oversight responsibility for credit models, including IFRS 9 models, ensuring operation of an effective independent validation function.

You should apply if you:

• Have significant experience of leading a credit risk function within a fast moving and innovative financial services environment

• Have deep, practical experience of retail credit risk management (and ideally business lending) and regulation obtained in a complex lending institution

• Have exceptional written and verbal communication skills that can be flexed for different audiences, including Executive and Board

• Are an effective leader and people manager, with the ability to build and nurture high performing medium/large sized teams

• Think strategically but are able to work in the detail with your team

• Have a track record of building and maintaining trusting relationships with stakeholders at all levels, including Executive and Board

The interview process:

Our interview process involves up to four main stages via Google Hangouts: 

• An initial call with our recruiter

• A call with our Prudential Risk Director, the hiring manager for the role 

• A role-specific call with colleagues from 1st Line Credit and a leadership and values call with our Chief Risk Officer 

• Final stage will be a chat with our General Manager, Borrowing 

Our average process takes around 6 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 removed - click apply for more details]

What’s in it for you:

💰 £110,000 to £160,000 (flexible dependent on experience) ➕ plus stock options & benefits 

✈️ 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

If you prefer to work part-time, we'll make this happen whenever we can - whether this is to help you meet other commitments or strike a great work-life balance.

Equal Opportunity Statement

We are actively creating an equitable environment for every Monzonaut to thrive.

Diversity and inclusion are a priority for us and we are making sure we have lots of support for all of our people to grow at Monzo. At Monzo, embracing diversity in all of its forms and 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, 2022 Diversity and Inclusion Report and 2022 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.

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