Here at Monzo we’re at a tipping point:
At Monzo we believe there’s a better way to do banking - we care deeply about our customers, are innovative and we execute quickly.
We’re looking to revolutionise the way consumers manage their finances by putting them in control and promoting their financial wellbeing. As part of that effort we are developing lending products that genuinely feel good and are looking for highly intelligent and creative individuals to help us on our journey.
At Monzo we split teams into highly autonomous multi-functional ‘squads’ - each empowered and equipped to tackle a specific problem for our users. As a Lending Specialist you will work within one of our lending product squads (focused on a product like ‘overdrafts’ or ‘loans’ for example), guiding that squad on the expected commercial performance of their product. You will be responsible for guiding them on fundamental issues such as:
You will be responsible for ensuring the squad collectively develops a deep commercial understanding and are asking the right questions to deliver a highly performing lending product. You will work with finance to develop and deliver a commercial plan for the product and help track performance against that plan. Initially you would be an individual contributor but your role may evolve to include an element of people management over time.
You’ll spend your time working on:
Although an individual contributor role, this role will be pivotal to the set up of our lending products and their success so may appeal to people currently working in Manager, Senior Manager or ‘Head-of’ roles within lending (such as Head of Credit Risk, Head of Portfolio Management, Head of Pricing etc..)
We’d love you to apply if you have a deep understanding of managing consumer credit portfolios. You should understand all aspects of the credit lifecycle from acquisition funnel optimization, decision science and underwriting through portfolio management, including collections and provisioning. You will have several years experience setting credit cut-offs, setting credit limit strategies and refining pricing on consumer lending portfolios and you should know how to build and use tools like NPV modelling to do that to optimise value.
You will have worked with finance teams to model and track the performance of lending portfolios over time. You’re likely to have a solid knowledge of credit reference agency products and data and should have experience of lending specific accounting rules (such as how to recognise revenue and credit losses).
You’d be a good fit for the role if you’re comfortable working in a highly collaborative environment where ideas can come from all team members as well as balancing ‘soft’ information (e.g. customer feedback/qualitative market research) with hard data (e.g. A/B test outcomes). The team operates in a highly agile manner, so it’s important that you’re able to identify and focus on what is necessary for the next milestone (rather than the perfect solution).
The application process consists of a short phone interview, followed by a practical written exercise with a follow up call, and a couple of on-site interviews at our office in London.
We care deeply about inclusive working practices and diverse teams. If you’d prefer to work part-time or as a job-share, we’ll facilitate this wherever we can – whether to help you meet other commitments or to help you strike a great work-life balance. We’re keen to ensure we’re designing a bank that works for everyone, so we particularly encourage applications from different underrepresented demographics.
Competitive salary plus stock options and other benefits.
We started Monzo in February 2015 with the mission of building the best current account in the world. In April 2017, we received our full UK banking licence from the FCA and PRA and are now working hard to roll out our free current account later this year.
We're focused on solving problems, rather than selling financial products. We want to make the world a better place and change people's lives through Monzo.We're doing things differently. For too long, banking has been obtuse, complex and opaque.We want to change that and build a bank with everyone, for everyone. Our amazing community of users suggests features, tests the app and gives us constant feedback so we can build something we all love.