Credit Risk Manager, Portfolio Management

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, challenging legacy assumptions. 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

• Own Portfolio Monitoring & Forecasting: Build and oversee robust performance frameworks to monitor and forecast risk and revenue metrics for sustainable portfolio scaling.
• Drive Contractual Pricing Strategies: Architect and optimize an ongoing risk-based pricing program balancing commercial viability and fair customer outcomes.
• Fuel Engagement & Retention Loops: Design and deploy credit strategies for lifecycle events like product upgrades, engagement incentives, and balance transfers to deepen customer loyalty.
• Execute Data-Driven Loss Mitigation: Develop proactive risk management frameworks, such as credit limit decrease strategies, to mitigate losses and support vulnerable customers.
• Lead and Nurture Talent: Manage, coach, and scale a high-performing team of 3 credit analysts, fostering a culture of technical excellence, continuous learning, and strong commercial focus.
• Cross-Functional Squad Collaboration: Act as the embedded credit risk expert within a multi-disciplinary squad, working with Product, Engineering, Design, Marketing, Customer Research, and Risk & Control.
• Cross-functional Leadership: Build collaborative ties with wider credit functions, manage relationships with 2nd Line Credit Risk, Legal, and Compliance, and translate complex data into clear narratives for executive stakeholders.

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 deep understanding of unsecured lending portfolios, ideally with credit card lifecycle management experience.
• Thrive in ambiguous, "zero-to-one" environments, enjoying building strategies from scratch, questioning norms, and working at pace.
• Possess portfolio management experience, including risk-based pricing, retention, product upgrades, and loss mitigation strategies.
• A champion for both Credit and Conduct Risk, balancing sharp credit instincts with customer protection and delightful experiences.
• An exceptional stakeholder manager and storyteller, capable of collaborating across teams and influencing executive leadership.
• Passionate about developing people, with a proven track record of leading analytical talent and managing/growing high-impact teams.
• Strong technical and data capabilities, comfortable digging into data and driving a data-first culture (SQL required; Python and Looker are a plus).

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.