Collections Strategy Manager

Monzo; London; Hybrid; GBP 60,000 - 90,000; Full time

Job summary

Monzo is seeking a senior manager to lead collections and recoveries strategies. This role focuses on developing data-driven approaches that prioritize positive customer outcomes while ensuring compliance with regulatory requirements. The ideal candidate will have extensive experience in the financial services sector and a proven track record in leading teams to success.

Benefits

Flexible working hours

£1,000 learning budget

Work-from-home setup support

Qualifications

• Proven ability to develop and implement collections strategies.
• Strong understanding of regulatory frameworks.
• Experience in managing digital collections strategies.

Responsibilities

• Design and implement collections strategies focusing on customer outcomes.
• Monitor KPIs related to customer satisfaction.
• Lead and mentor a high-performing team.

Skills

Data analysis

Leadership

Customer advocacy

Problem-solving

Education

Experience in financial services sector

Tools

SQL

Job description

We’re on a mission to make money work for everyone.

We’re waving goodbye to the complicated and confusing ways of traditional banking.

With our hot coral cards and get-paid-early feature, combined with financial education on social media and our award winning customer service, we have a long history of creating magical moments for our customers!

We’re not about selling products - we want to solve problems and change lives through Monzo ️

The team's primary goal is supporting those tackling tough financial situations. It is essential that from the very start, we're on the same page about our collective responsibility: providing thoughtful support and practical options to those in need.

We are seeking an experienced senior manager to help lead our collections and recoveries strategy. This pivotal role will be responsible for developing, implementing, and optimising innovative and compliant collection and recovery strategies with a primary focus on achieving positive customer outcomes. The ideal candidate will possess a deep understanding of the credit lifecycle, collections best practices, regulatory requirements, and a proven ability to leverage data analytics to drive performance and enhance customer experience. This role requires a leader who can balance commercial objectives with a strong sense of customer advocacy. You will do this by:

• Design, develop, and implement comprehensive and data-driven collections and recoveries strategies across all stages of delinquency, ensuring alignment with business objectives and a strong emphasis on fair customer outcomes.
• Continuously evaluate and refine strategies based on performance analysis, market trends, regulatory changes, and customer feedback to optimise effectiveness and efficiency.
• Help develop and manage segmentation strategies to tailor approaches to different customer circumstances, promoting personalised and empathetic solutions.
• Champion the use of digital tools and innovative technologies to enhance collections processes and customer engagement.

Customer Outcomes & Experience:

• Embed a customer-centric culture within all collections and recoveries processes and interactions.
• Monitor key performance indicators (KPIs) specifically related to customer outcomes, such as forbearance effectiveness and customer satisfaction.
• Ensure all strategies and processes are designed to treat customers fairly, with a particular focus on identifying and supporting vulnerable customers.
• Work collaboratively with customer experience and complaints teams to identify areas for improvement in collections journeys.

Data Analysis & Insights:

• Utilise data analytics to monitor portfolio performance, identify trends, and uncover actionable insights to inform strategic decisions and optimise recovery rates.
• Partner with data science and analytics teams to build predictive models and enhance targeting and decision-making capabilities.

Leadership:

• Help lead, mentor, and develop a high-performing team
• Represent the Collections and Recoveries strategy in senior management forums and contribute to broader business initiatives
• Working with external partners, to ensure they adhere to Monzo’s standards and provide good customer outcomes
• Ensure all collections and recoveries strategies and activities are fully compliant with relevant legal and regulatory requirements (e.g., FCA, CONC, Consumer Duty).
• Maintain a strong understanding of the evolving regulatory landscape and implement necessary changes to ensure ongoing compliance.
• Identify, assess, and mitigate risks associated with collections and recoveries activities.
• Oversee the development and maintenance of clear policy and procedure documentation.
• Have experience in a senior strategic role within collecions & recoveries, preferably in the financial services sector.
• You have a proven track record of developing and implementing successful collections and recoveries strategies that demonstrably improve performance while prioritising positive customer outcomes.
• Have in-depth knowledge of relevant regulatory frameworks and compliance requirements (e.g., FCA, Consumer Duty and CCA).
• You have strong analytical and problem-solving skills, with the ability to interpret complex data and translate insights into actionable strategies.
• Have excellent leadership, communication, and interpersonal skills, with the ability to influence and collaborate effectively with stakeholders at all levels.
• You have demonstrable experience in driving change and process improvements within a collections environment.
• You have a strong understanding of the credit lifecycle and risk management principles.
• Have experience in managing and overseeing digital collections strategies & self-serve solutions
• Are proficient in SQL for data extraction, manipulation and analysis is desirable.

Not ticking every box? That’s totally okay! Studies show that women and people of colour might hesitate to apply unless they meet every single requirement. At Monzo, we’re dedicated to creating a diverse and welcoming team. If you’re passionate about this role and keen to learn and grow with us, we encourage you to apply— even if you don’t have everything that's listed just yet. Drop us your application, we’d love to hear from you!

What’s in it for you

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, and at times that suit you and your team.

£1,000 learning budget each year to use on books, training courses and conferences.

We will set you up to work from home; all employees are given Macbooks and for fully remote workers we will provide extra support for your work-from-home setup.

The application journey has 4 key steps

• Initial Interview with the Hiring Manager
• Role Specific Interview
• Behavioural Interview
• Leadership Interview

This process should take around 3-4 weeks - your schedule is really important to us, so we promise to be as flexible as possible!

We have some guidelines on using Artificial Intelligence (AI) to ace an application and interview at Monzo.You can read them here.

You’ll hear from us throughout the application process, but if you’ve got any questions, please reach out to [e-mail]. You can also use this email address to let us know if there’s anything we can do to make the process easier for you because of disability, neurodiversity or anything else.

We’ll only close this role once we have enough applications for the next stage. Please submit your application as soon as possible to make sure you don’t miss out.

#LI-TP2

Equal opportunities for everyone

Diversity and inclusion are a priority for us and we’re making sure we have lots of support for all of our people to grow at Monzo. At Monzo, we’re embracing diversity by 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 , 2024 Diversity and Inclusion Report and 2024 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.

If you have a preferred name, please use it to apply. We don't need full or birth names at application stage

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Our goal at Monzo is to make money work for everyone. To do that, working at Monzo must work for everyone. We want to create an equitable, engaged and innovative workplace which gives people from all backgrounds the support they need to thrive and grow.

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