Credit Risk Manager, Portfolio Management

Credit Risk Manager, Portfolio Management

Company: Monzo Location: Remote (UK) Contract: Permanent Salary: £100,000 - £130,000 per year + Incentive Awards

Monzo is on a mission to make money work for everyone by moving away from the complicated and confusing ways of traditional banking. We offer a wide range of financial products and services, and we're looking for driven, analytical, and creative individuals to help us achieve our goals.

About the Role

Our Borrowing (lending) business is growing rapidly, and we're looking for a strategic Credit Risk Manager to lead our Flex product portfolio management. This is a unique "zero-to-one" opportunity to build strategies from the ground up, challenge traditional banking assumptions, and put the customer at the heart of our lifecycle strategies. You will lead an initial team of 3 credit analysts, with the potential to grow the team over time, to unlock significant P&L and customer engagement potential. While the immediate focus is scaling safely in the UK, you will also help lay the groundwork for global expansion into Europe.

This role is part of our Data Discipline, which fosters a strong culture of data-driven decision-making. You'll be embedded in a product squad alongside Product Managers, Engineers, Designers, Marketers, and Data Scientists, enabling rapid problem-solving and innovation.

Key Responsibilities

• Own Portfolio Monitoring & Forecasting: Build and oversee robust performance frameworks to monitor and forecast risk and revenue metrics for sustainable portfolio scaling.
• Drive Contractual Pricing Strategies: Architect and optimize an ongoing risk-based pricing program that balances commercial viability and fair customer outcomes.
• Fuel Engagement & Retention Loops: Design and deploy sophisticated credit strategies for lifecycle events, including product upgrades, engagement incentives, and balance transfer propositions.
• Execute Data-Driven Loss Mitigation: Develop proactive risk management frameworks, such as credit limit decrease strategies, to safely mitigate losses and support financially vulnerable customers.
• Lead and Nurture Talent: Manage, coach, and scale a high-performing team of credit analysts, fostering a culture of technical excellence, continuous learning, and commercial focus.
• Cross-Functional Squad Collaboration: Act as the embedded credit risk expert within a multi-disciplinary squad, working closely with Product, Engineering, Design, Marketing, Customer Research, and Risk & Control.
• Cross-functional Leadership: Build collaborative ties with wider credit functions and manage relationships with 2nd Line Credit Risk, Legal, and Compliance, translating complex data into clear narratives for executive stakeholders.

Requirements

• A commercial, strategic credit leader with a deep understanding of unsecured lending portfolios, ideally with experience in credit card lifecycle management.
• Proven ability to thrive in ambiguous, "zero-to-one" environments, building strategies from scratch and working at pace.
• Experience in portfolio management, including risk-based pricing, retention, product upgrades, and loss mitigation strategies.
• A strong advocate for both Credit and Conduct Risk, balancing credit instincts with customer protection and delivering delightful experiences.
• Exceptional stakeholder management and storytelling skills, with the ability to collaborate effectively and influence at all levels.
• A passion for developing people, with a track record of leading analytical talent and managing/growing high-impact teams.
• Strong technical and data capabilities, comfortable digging into data and driving a data-first culture. SQL is a must-have; Python and Looker experience are a plus.

What We Offer

• Competitive salary of £100,000 - £130,000 per year.
• Incentive Awards tied to your performance.
• Relocation assistance to the UK and visa sponsorship.
• Flexible working hours and a trust-based approach to work.
• A learning budget of £1,000 per year for books, training courses, and conferences.
• Comprehensive benefits package (details available on our careers page).
• The opportunity to work remotely within the UK, with ad hoc meetings in London.
• A supportive and inclusive work environment that values diversity and prioritizes employee well-being.

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of age, ethnicity, religion, sex, sexual orientation, gender identity, family or parental status, national origin, or veteran, neurodiversity or disability status.