Credit Risk Oversight Manager

📍London or Remote | 💰 £55,000 to £77,000 + Options + Benefits | Data Team, Borrowing

About us:

At Monzo we believe there’s a better way to do banking - we’re here to make money work for everyone and we're doing things differently. We care deeply about our customers, and we’re focused on solving problems, rather than selling financial products.

We encourage an open, collaborative, inclusive working environment where we strive to constantly innovate and execute on ideas. We’re looking to revolutionise the way people manage their finances by putting them in control and promoting financial wellbeing. Our Borrowing business is growing rapidly (both through our existing products, and with new products planned). We aim to create a genuine feel-good factor when it comes to personal credit, and are looking for driven, analytical and creative individuals to help us achieve this goal.

About our Team:

As our lending portfolio grows and evolves, our second line of defence Credit Risk Team is growing with it - and we’re looking for a Credit Risk Oversight Manager to join us! Our team provides support to our colleagues in Borrowing to help Monzo grow our lending book safely. We’re looking for someone (maybe you?) who has proven experience in retail credit risk and likes getting into the details, analysing data and providing constructive challenge.

This role is pivotal for the team as the successful candidate will help ensure the credit products and strategies we use are not only good for Monzo but what's best for our customers. The role-holder will provide independent assurance and oversight of credit risk across the lifecycle, including underwriting and portfolio management decisioning, affordability and collections and recoveries for our consumer and small business credit products.

What you’ll be doing:

• Providing ongoing oversight of credit risk - this includes analysing and understanding the performance of our existing lending products, developing and enhancing monitoring metrics and providing input to relevant committees


• Partnering with our first line of defence teams to support credit strategy changes, including new product launches and pilots, ensuring that we deliver magical lending products for our customers while meeting our risk appetite


• Delivering deep insight, feedback and independent challenge on our credit strategies, as we optimise our decisioning for customers through the lifecycle - including writing clear and insightful opinions to support management decision making


• Leading second line assurance work and thematic reviews


• Collaborating with our model validation and model development teams to ensure understanding of the models that underpin our credit strategies


• Providing credit expertise and input into relevant strategic projects and critical Monzo-wide processes, such as stress-testing and forecasting


• Supporting us in maintaining our Credit Risk Framework and making sure it is well embedded within the business


• Making risk meaningful and interesting to everyone at Monzo, and sharing best practice whilst adapting the language you use to speak about risk so that it is easy for everyone to understand


• Taking a sensitive, balanced approach to risk management, and making sure managing risks becomes part of each first-line person’s day to day work

Locations & Flexible Working:

Our main tech hub is in London, but our data teams are based all over the UK — from Brighton to the Western Isles.

We love meeting in person, but there’s no pressure to come into the office, even if you’re nearby. You’ll do your best work where you feel most comfortable.

We value flexibility, connection, and wellbeing. You’ll have the freedom to work in a way that fits your life, whether that’s school drop-offs, avoiding rush hour, or making time for what matters most.

Work the way that works for you at Monzo! 💼

You should apply if:

• You have a strong background in credit risk management within consumer or small business lending - experience in unsecured, revolving products (such as credit cards) would be particularly beneficial


• You have proven analytical skills and can use these to interrogate data, build monitoring and look for early indicators of trends


• You have hands-on experience and/or understanding of how to use scorecards and NPV models to develop strategies for making credit decisions


• You have a solid technical toolkit; SQL or similar is a must-have and experience using a data visualisation tool (such as Looker, PowerBI or Tableau) is a plus


• You can convey problems and solutions using clear and simple language, both written and verbal (see Monzo’s tone of voice guide). This is particularly important for communicating complex issues and priorities to non-experts


• You’re impact driven with a self-starter mindset; you proactively identify issues and opportunities and tackle them without being told to do so


• You can provide effective challenge, while building strong and respectful relationships


• You’re passionate about technology, and what we are doing here at Monzo excites you!

We're on the look out for L30 Credit Analysts at the moment, you can read more in our Data Progression Framework

The Interview Process:

Our interview process involves four main stages:

1. Recruiter Call (30mins)


2. Initial Call (30 mins)


3. Take Home Task


4. Final stage (x3 interviews) consisting of a case study, role specific interview, and collaboration interview

Our average process takes around 3-4 weeks but we will always work around your availability.

What’s in it for you:

💰£55,000 to £77,000 ➕ stock options

📍This role will be based out of our London office next to Liverpool Street station in a hybrid approach of office based and home working or on a fully remote basis.

⏰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