Credit Risk Manager, Flex Originations

Job Title

Credit Risk Manager, Borrowing (Data Team)

About Monzo

Monzo is on a mission to make money work for everyone, moving away from complicated traditional banking. Over the last 10 years in the UK, Monzo has expanded from a prepaid card to offering personal and business accounts, joint accounts, accounts for 16-17 year olds, kids accounts, and credit cards. They also provide savings, investments, and pension services, all while focusing on creating positive customer experiences through innovative features and award-winning customer service.

About the Team

The Borrowing (lending) business at Monzo is experiencing rapid growth, with plans for new initiatives. The team aims to make personal credit a positive experience and is seeking analytical, creative individuals to help achieve this. The Flex product is reinventing credit cards with a focus on customer visibility and control. This role is a key "zero-to-one" opportunity to build the credit risk framework for Flex's market expansion. The credit teams are part of the Data Discipline, fostering a strong culture of data-driven decision-making and real-time analytics, with data readily accessible for self-serve analysis.

Your Day-to-Day Responsibilities

• Drive Distribution Strategy: Develop and implement credit risk frameworks for new and expanding acquisition channels, including aggregator sites, paid marketing, and referral networks.
• Optimize the Customer Journey: Design, test, and deploy sophisticated underwriting and real-time decisioning strategies to balance customer onboarding experience with robust risk management.
• Shape Product & Pricing Economics: Own the risk architecture for complex commercial propositions, evaluating risk-reward profiles of promotional offers, introductory features, and dynamic pricing.
• Champion Economic Modelling: Oversee or collaborate on credit risk valuations (including NPV modeling and affordability strategies) to ensure data-driven lending economics.
• Lead and Scale a High-Performing Team: Hire and develop a team of elite analysts, fostering a culture of technical excellence, accountability, and commercial impact.
• Cross-Functional Collaboration: Serve as the primary credit risk partner within a product squad, collaborating with Product Managers, Engineers, Designers, Marketers, Customer Researchers, Data Scientists, and Fraud teams.
• Executive Visibility: Own performance tracking and monthly monitoring for new origination streams, translating complex credit data into actionable insights for senior leadership.

How Monzo Works

Monzo's tech hub is in London, but their data teams are distributed across the UK. They value flexibility, connection, and well-being, allowing employees to work in a way that fits their lives. In-person meetings are welcomed but not mandatory. The focus is on enabling individuals to do their best work comfortably.

You Should Apply If You Are:

• A commercial, strategic credit leader with extensive experience in unsecured lending, ideally with a credit card background.
• Deeply knowledgeable about lending economics, including risk-based pricing, promotional lending, and underwriting strategies.
• Experienced in driving growth through diverse distribution networks and understanding their unique risk profiles.
• An exceptional stakeholder manager adept at collaborating across Product, Marketing, Fraud, and Machine Learning teams.
• Skilled in leading and developing analytical talent, eager to build and scale a high-impact team.
• Possess strong analytical and data capabilities with technical coding skills (SQL required; Python and Looker are a plus).
• Highly motivated by fast-paced, "zero-to-one" environments, comfortable navigating ambiguity and shipping impactful changes.

The Interview Process

The interview process typically involves 3 stages: a recruiter call, an initial call with the hiring manager, and a final loop of interviews with key stakeholders. The average process takes 3-4 weeks, with flexibility around candidate availability.

What’s in it for you?

• Relocation assistance to the UK
• Visa sponsorship
• Flexible working hours and distributed working options within the UK (with ad hoc London meetings)
• £1,000 annual learning budget for books, training, and conferences
• Comprehensive benefits package

Equal Opportunities

Monzo is committed to diversity and inclusion, fostering an inclusive environment where all employees can thrive. They are an equal opportunity employer, considering all applicants without regard to age, ethnicity, religion, sex, sexual orientation, gender identity, family or parental status, national origin, veteran, neurodiversity, or disability status.