Director of Credit Risk, Business Borrowing

📍London or Remote (UK)  | Benefits | Hear from the team ✨ | Data Team, Borrowing 

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 team:

Our Borrowing (lending) team is growing and we’re looking for a Director to build and lead our credit risk function for lending to our business banking customers. The ideal candidate should have in-depth knowledge of lending to small and medium size sole traders and limited companies, automated decisioning and Credit Risk Management activities. 

As the size of our Business Banking customer base continues to grow, we are building out 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 to build a team of 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 lead a team of credit analysts and managers and play a pivotal role in refining our credit and pricing strategies, particularly as we introduce new lending products to the market. You will work with colleagues across Monzo to make sure we are building profitable lending portfolios and amazing products for our customers.

How you’ll contribute: 

• Leading a team designing and implementing credit and pricing strategies for our business lending products
• Monitoring the performance of our existing strategies, and iterating to improve them
• Leading initiatives to improve our credit underwriting, boost growth and/or manage portfolio risk 
• Supporting the design and roll-out of new products and customer journeys, while working together with people from engineering, marketing, product, risk and control to achieve this
• Providing leadership across our Business Banking and Borrowing Collectives. 
• Be a member of the Borrowing Leadership Team which drives Monzo's overall borrowing strategy

You should apply if:

• You have strong domain expertise in providing lending products to small businesses
• You have a track record leading analytical credit teams 
• You have a deep understanding of how business lending works, including regulation and industry best practice
• You are passionate about customers and understand the role credit strategies and policies play in customer outcomes
• You’re comfortable balancing ‘soft’ information (e.g. customer feedback/qualitative market research) with hard data (e.g. A/B test outcomes)
• You have strong analytical and data capabilities, backed up by technical coding skills
• 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 clear communicator, able to cut through complex problems and articulate decision points
• You work well collaborating in a team with diverse skill-sets and personality types
• You are comfortable working in a fast-moving and changing company

The Interview Process:

Our interview process involves 4 main stages: 

• Recruiter Call
• Initial Call 
• Take Home Task
• Final stage (x3 interviews) consisting of a leadership, role specific and a values and collaboration interview

Our average process takes around 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 removed - click apply for more details]. Please also use that email to let us know if there's anything we can do to make your application process easier for you, because of disability, neurodiversity or any other personal reason.

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

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 2023 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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