Credit Analyst

Monzo Bank Limited

Job Overview

Location

Cardiff, London or Remote (UK)

Job Type

Full-time

Full Job Description

📋 Description

• Join Monzo Bank Limited, a pioneering digital bank on a mission to make money work for everyone, by stepping into the crucial role of a Credit Analyst within our dynamic Borrowing team.
• This is an exciting opportunity to shape the future of modern lending by developing and optimising unsecured credit risk and pricing strategies for our innovative products like Personal Loans and Flex (credit cards).
• You will be instrumental in building profitable portfolios and delivering outstanding customer experiences through data-led decision-making and continuous experimentation.
• Collaborate closely with cross-functional teams, including Product, Engineering, Risk, Marketing, and Control, to design, develop, and roll out new lending strategies and product enhancements.
• Your core responsibilities will involve analysing vast datasets to identify patterns, translate them into actionable insights, and support the design and implementation of new credit underwriting initiatives.
• You will play a key role in improving credit underwriting processes, driving growth, and effectively managing portfolio risk across our lending products.
• Monitor the performance of existing credit strategies, conduct rigorous analysis, and implement iterative improvements to optimise outcomes.
• Develop, maintain, and rigorously monitor our credit models, with a focus on assessing the net present value of new lending cohorts to inform strategic business decisions.
• Build and maintain essential database tables and dashboards that provide critical insights, fostering a culture of rapid, data-driven decision-making across the team.
• Contribute to the assessment of how the lending portfolio of specific products is likely to perform over time, providing foresight and strategic guidance.
• Support the design and successful rollout of new lending products and customer journeys, ensuring they align with Monzo's mission and customer-centric approach.
• Work in a fast-paced environment where you'll have the chance to directly impact our products and deliver tangible changes to our customers.
• Leverage your analytical and data capabilities to uncover trends, predict outcomes, and recommend strategic actions.
• Contribute to a culture of continuous learning and improvement, staying abreast of market dynamics and regulatory changes.
• Be a key player in ensuring responsible lending practices and contributing to the financial health of our customers.
• The Borrowing collective is a growing and vital part of Monzo, encompassing Personal Loans, Flex (credit cards), and Financial Health initiatives.
• We are committed to building innovative, responsible lending products that offer customers unparalleled transparency, flexibility, and control over their finances.
• Flex is actively redefining the credit card market with its flexible instalment options and intuitive in-app management features.
• Our Personal Loans offering provides a straightforward and transparent borrowing experience.
• The Financial Health division is dedicated to fostering sustainable growth and achieving superior customer outcomes.
• As a Credit Analyst, you will be at the forefront of these efforts, directly influencing the success and responsible growth of Monzo's lending portfolio.
• Your work will directly contribute to Monzo's overarching mission of making banking simpler, fairer, and more transparent for everyone.
• This role offers a unique opportunity to work with cutting-edge technology and data science techniques in a supportive and collaborative environment.
• You will be empowered to take ownership of your work, drive initiatives forward, and make a significant impact on the business and our customers.
• Embrace the challenge of working in a regulated industry while maintaining a startup's agility and innovative spirit.
• Contribute to the ongoing evolution of our credit risk frameworks and models.
• Participate in the full lifecycle of product development, from ideation and strategy to implementation and ongoing performance management.
• Your insights will be crucial in guiding strategic decisions related to credit risk appetite, pricing, and product development.
• This role is ideal for someone passionate about data, finance, and technology, looking to make a real difference in the banking sector.
• We value a proactive approach, a keen eye for detail, and the ability to communicate complex ideas clearly and concisely.
• You will be part of a team that is passionate about building great products and delivering exceptional value to our customers.
• The opportunity to work remotely across the UK, with flexibility in working hours, supports a healthy work-life balance.
• Your contributions will be recognised and rewarded, with competitive compensation and opportunities for professional growth.
• Be part of a company culture that prioritises diversity, inclusion, and employee wellbeing.
• This role offers a chance to grow your career within a leading fintech company, with ample opportunities for learning and development.
• You will be instrumental in ensuring Monzo continues to offer responsible and accessible credit solutions to its growing customer base.
• The role demands a blend of analytical rigour, strategic thinking, and collaborative spirit to succeed.
• We encourage a proactive and curious mindset, essential for navigating the complexities of the credit market.
• Your work will directly impact the financial well-being of Monzo customers and the overall health of the business.
• This is more than just a job; it's a chance to be part of a movement to revolutionise banking.

🎯 Requirements

• Proven experience in unsecured retail lending, such as personal loans, credit cards, overdrafts, or buy now pay later schemes.
• Solid understanding of the unsecured retail lending market, including the influence of pricing dynamics on portfolio performance.
• Experience with lending economics and a track record of developing and deploying effective underwriting strategies.
• Strong analytical and data capabilities, complemented by technical coding skills, with SQL being essential. Python and Looker experience are advantageous.
• Working knowledge of UK lending regulations and compliance requirements.
• Ability to thrive in a fast-paced environment and a strong desire to improve products and deliver customer-facing changes.
• Excellent communication skills, with the ability to simplify complex problems and articulate decision points clearly.
• Some experience in project management and cross-team coordination.
• Proven ability to collaborate effectively within diverse teams.
• High motivation and enthusiasm for making a positive impact on customers and Monzo.

🏖️ Benefits

• Competitive salary (£55,000 to £77,000 per annum).
• Stock options package.
• Generous annual learning budget of £1,000 for books, training courses, and conferences.
• Flexible working hours and a commitment to work-life balance.
• Opportunity for remote working within the UK, with ad hoc London office meetings.
• Visa sponsorship is available for eligible candidates.
• Comprehensive benefits package, as detailed on the Monzo careers page.

Skills & Technologies

Python

Node.js

Remote

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Monzo Bank Limited

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About Monzo Bank Limited

Monzo Bank Limited is a UK-regulated digital bank offering personal, joint, and business accounts, savings, loans, overdrafts, and mortgages via a mobile-first platform. Licensed by the PRA and FCA, it provides real-time spending notifications, budgeting tools, and fee-free foreign transactions. Founded in 2015 as Mondo, it rebranded in 2016 and serves over nine million customers.

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