Return to jobs Return to jobs

VP, Head of Credit

Monzo Bank


Posted 4 weeks ago

Join Monzo's mission to revolutionize banking and lead a world-class credit function as VP, Head of Credit


icon Salary

No salary declared 😔

icon Location

Cardiff, London or Remote (UK)

icon Nomad Friendly?

98% Remote- UK

icon Expires

Expires at anytime

icon Visa

Visa sponsor - UK

Organisation summary - Monzo is not just a bank; it's a movement to transform financial services. With a mission to make money work for everyone, Monzo has earned a reputation for its innovative approach, community involvement, and commitment to transparency and diversity. As the UK's fastest-growing bank, Monzo offers the dynamism of a tech startup combined with a serious dedication to customer safety and satisfaction. It's an exciting time to join a company that's redefining banking for the digital age and empowering its team to do the best work of their lives.

Role Summary

  • Lead the development and execution of Monzo's credit strategy and lending business as VP, Head of Credit.
  • Oversee risk decisioning, underwriting, risk strategy, impairments & forecasting, and Collection & Recoveries.
  • Collaborate across product, tech, operations, and risk teams to balance customer experience with credit strategy outcomes.
  • Guide the strategic direction and ensure the safe growth of lending products.
  • Coach and lead a talented multi-disciplinary team.

Role Requirements

  • 15+ years of UK consumer unsecured lending credit experience.
  • Expertise in credit decisioning and familiarity with data science and IFRS9.
  • Deep knowledge of UK consumer credit regulations.
  • Proven ability in long-term credit and product strategy development.
  • Successful track record of leading cross-functional teams in a dynamic environment.

Application Process Details

  • Initial Recruiter Call (30 mins) to discuss your experience and learn more about Monzo.
  • Initial Call (45 mins) with the Group General Manager of Monzo.
  • Interview Loop Stage consisting of 4-5 interviews with different team members.

Monzo offers a competitive salary with equity and stock options, visa sponsorship, relocation assistance, flexible working hours, a learning budget, and more. As an equal opportunity employer, Monzo welcomes all applicants and champions diversity and inclusion. To apply or request accommodations, contact [email removed - click apply for more details].

📍London or Remote (UK) | 💰 This is a unique role, we’re open to discussions around base salary + stock options dependent on experience + BenefitsHear from the team

About us

At Monzo, our mission is to make money work for everyone: to make our customers effortlessly financially savvy with smart features, unexpectedly friendly service, and a relentless focus on what people genuinely want and need from a bank. Our net promoter score is more than 2x that of other banks, and we are the fastest-growing bank in the UK. Monzo better resembles a fast-paced tech startup than a traditional bank – we move fast, ship new things every day, and develop products iteratively. But we are also very serious about the safety of our customers’ money and their trust in us, and we believe this starts with our internal culture. We default to transparency both internally and externally, and we involve our community in everything we do. We prize a diverse team as a strength: everyone is welcome at Monzo and we're working hard to empower them to do the best work of their lives.

At Monzo the effective application of technology is a significant competitive advantage. We strongly believe in autonomous multi-disciplinary teams, organising smart people from different backgrounds around problems and empowering our business areas with technical capabilities to achieve outcomes for our customers that others can't.

The role

Our lending team is growing and we’re looking for a VP, Head of Credit to fully lead the development and execution of a world-class credit function and lending business.

You will report to the Group General Manager of Monzo, and lead the credit team across risk decisioning, underwriting, risk strategy, impairments & forecasting and Collection & Recoveries. Your primary responsibility will be achieving a Risk Adjusted Revenue outcome, collaborating with a matrix-style team. This involves partnering with product, tech, operations, and 2nd line risk leadership to ensure an excellent customer borrowing experience while balancing credit strategy outcomes. Your team will play a crucial role in setting the strategic direction and ensuring the safe growth of our lending products. The role will have a number of Directors and Senior Directors reporting into it.

What you’ll work on

  • Inspiring and leading the multi-disciplinary credit team to build products that solve customer problems and improve their financial health
  • Navigating the complex regulatory landscape, making sure we operate within risk appetites and comply with rules and regulations
  • Leading on how we innovate to add value to our users by building products in-house and working with complimentary partners
  • Driving the strategy for our lending business and further contributing to Monzo’s growth
  • Coaching a team of talented people across a range of disciplines

You should apply if

  • You have at least 15 years of direct, unsecured consumer lending credit experience in the UK 
  • You are an expert on credit decisioning, comfortable with data science and have a good understanding of accounting standards as they apply to lending, including IFRS9 provisioning
  • You have a deep understanding of UK consumer credit regulations
  • You have a proven track record in developing long-term product and credit strategy
  • You have a track record as a respected and successful leader of cross-functional teams
  • You’re comfortable working in a fast-moving, fast-growing and sometimes ambiguous environment

The interview process

Our interview process involves 3 main stages: 

  1. Recruiter Call (30 mins) You'll meet our Executive Recruiter to discuss your experience and learn more about Monzo. They'll be your partner and guide throughout the interview process.
  2. Initial Call (45 mins) You'll meet with our Group General Manager of Monzo. 
  3. Interview Loop Stage 4-5 interviews meeting different team members across the business. 

At all stages we’ll create space for you to ask as many questions as you have, you’re interviewing us as well!

Our average process takes around 4-6 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]. 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

💰Base salary depending on experience + equity + 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

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 Reportand 2023 Gender Pay Gap Report.

We're an equal opportunity employer. All applicants will be considered for employment without attention to ethnicity, religion, sexual orientation, gender identity, family or parental status, national origin, veteran, neurodiversity status or disability status.



Hire with Escape

Showcase your progressive organisation and post your open roles to the biggest UK community of purpose driven job seekers.

Get Started