Credit Risk Director, Business Borrowing

Monzo; London; Hybrid; GBP 80,000 - 120,000; Full time

Job summary

A financial technology company in London is seeking a Credit Risk Director for Business Borrowing to lead the credit strategy for business lending products. The role involves designing credit strategies, monitoring performance, and collaborating with key stakeholders. Ideal candidates will have expertise in small business lending, strong analytical skills, and experience in project management. Flexible working arrangements and relocation support are offered.

Benefits

£1,000 learning budget

Flexible working hours

Remote working support

Qualifications

• Deep understanding of how business lending works, including regulation and industry best practice.
• Solid understanding of lending economics and experience developing underwriting strategies.
• Comfortable working in a fast-moving and changing company.

Responsibilities

• Leading the team designing credit and pricing strategies for business lending products.
• Monitoring the performance of existing strategies and iterating to improve them.
• Providing guidance on credit proposals to be adopted as Monzo underwriting policy.

Skills

Strong domain expertise in providing lending products to small businesses

Strong analytical and data capabilities

Strong communicator

Track record in project management

Works well collaborating in a team

Tools

SQL

Python

Looker

Job description

Overview

Credit Risk Director, Business Borrowing — Cardiff, London or Remote (UK)

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.

Our Borrowing (lending) team is growing as we look to develop our suite of borrowing products for business banking customers; sole traders and limited companies. We want a Director to lead the credit strategy for Business Borrowing. You will lead the team responsible for defining the credit and pricing as we evolve existing propositions and develop new products. We aim to create a genuine feel-good factor when it comes to business credit, and we are looking for driven, analytical and creative individuals to help us achieve this goal.

Our credit teams are part of our Data Discipline which drives a strong culture of data-driven decision making across the whole company. We use real-time analytics and empower the wider business. All data lives in one place and is easy to use. Most day-to-day data-driven decisions are covered by self-serve analytics through Looker, enabling analysts to focus on more impactful questions and analyses.

Join a team where ideas can transform into reality, leveraging cutting-edge technology and agile ways of working. Our credit analysts and managers are embedded into a product squad alongside Product Managers, Engineers, Designers, Marketers, Customer Researchers, Data Scientists, etc. This enables us to solve customer problems in a fast-paced and innovative way.

Responsibilities

• Leading the team designing credit and pricing strategies for our business lending products
• Monitoring the performance of existing strategies, and iterating to improve them
• Supporting the design and roll-out of new products and customer journeys
• Leading initiatives to improve our credit underwriting, boost growth and/or manage portfolio risk
• Overseeing the development and monitoring of credit models to forecast cash flows and assess net present value of new lending cohorts
• Providing guidance and challenge on credit proposals to be adopted as Monzo underwriting policy
• Partner closely with key stakeholders including Capital, Impairments and Forecasting, Financial Health (Collections and Recoveries), Finance, Second Line Credit Oversight
• Be a member of the Borrowing Leadership Team which drives Monzo's overall borrowing strategy

Requirements

• Strong domain expertise in providing lending products to small businesses
• Deep understanding of how business lending works, including regulation and industry best practice
• Solid understanding of lending economics and experience developing and deploying underwriting strategies and credit models
• Strong analytical and data capabilities, backed by technical coding skills. SQL is a must-have; Python and Looker experience is a plus
• Strong communicator, able to cut through complex problems and articulate decision points
• Track record in project management and leading high performing teams
• Works well collaborating in a team with diverse skill-sets and personalities
• Comfortable working in a fast-moving and changing company

What’s in it for you

• We’ll help you relocate to the UK
• We can sponsor your visa
• 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)
• Flexible working hours and trust you to work enough hours to do your job well, at times that suit you and your team
• £1,000 learning budget each year for books, training courses and conferences
• We will set you up to work from home; Macbooks are provided and for fully remote workers we provide extra support for your home setup

The application journey

• Initial Interview with the Hiring Manager
• Final Loop

This process should take around 2-3 weeks. Your schedule is important to us, and we will be as flexible as possible.

Equal opportunities

Diversity and inclusion are a priority for us. We are an equal opportunity employer and consider all applicants without regard to age, ethnicity, religion, sex, sexual orientation, gender identity, family or parental status, national origin, veteran status, neurodiversity or disability status. We encourage you to read our Diversity and Inclusion Report and Gender Pay Gap Report for more information.