VP, Head of Credit

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

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