Credit Risk Manager, Flex Originations

Credit Risk Manager, Flex Originations

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

About Monzo

Monzo is on a mission to make money work for everyone, moving away from the complicated and confusing ways of traditional banking. Starting as a prepaid card, Monzo has grown significantly, offering personal and business accounts, joint accounts, accounts for younger individuals, and credit cards. They also provide savings, investment, and pension services. Monzo is known for its innovative approach, customer-centric features, and commitment to financial education and award-winning customer service.

About the Team

The Borrowing (lending) business at Monzo is experiencing rapid growth, with plans for new initiatives and expansion into new markets and distribution channels. The team aims to create a positive experience around personal credit. This role is within the Data Team, specifically focusing on the Borrowing discipline. The team operates with a strong culture of data-driven decision-making, utilizing powerful, real-time analytics and self-serve tools. Credit teams are embedded within product squads, collaborating closely with Product Managers, Engineers, Designers, Marketers, and Data Scientists to solve customer problems in a fast-paced, innovative environment.

About the Role

As a Credit Risk Manager for Flex Originations, you will spearhead the credit, pricing, and distribution strategies for the next phase of Monzo's Flex credit card market expansion. You will lead a growing team of analysts focused on acquiring new customers through various channels, optimizing real-time decisioning, and scaling the credit card proposition safely. This is a strategic role with significant impact, requiring a deep understanding of lending economics and a track record of driving growth.

Key Responsibilities

• Drive Distribution Strategy: Develop and implement credit risk frameworks for new and expanding acquisition channels, including aggregator sites, paid marketing, and referral networks.
• Optimise the Customer Journey: Design, test, and deploy sophisticated underwriting and real-time decisioning strategies to balance a seamless customer onboarding experience with robust risk management.
• Shape Product & Pricing Economics: Own the risk architecture for complex commercial propositions, evaluating the risk-reward profiles of promotional offers, introductory features, and dynamic pricing structures.
• Champion Economic Modelling: Oversee or closely partner on credit risk valuations, including Net Present Value (NPV) modelling and affordability strategies, to ensure optimized lending economics.
• Lead and Scale a High-Performing Team: Hire, develop, and mentor a lean team of elite analysts, fostering a culture of technical excellence, accountability, and commercial impact.
• Cross-Functional Collaboration: Serve as the primary credit risk partner to a cross-functional squad, collaborating with teams in product, marketing, design, engineering, fraud, and machine learning.
• Executive Visibility: Own performance tracking and monthly monitoring for new origination streams, translating complex credit data into clear, actionable insights for senior leadership.

Requirements

• A commercial, strategic credit leader with extensive experience in unsecured lending, ideally with a background in credit cards.
• Deep understanding of lending economics, including experience with risk-based pricing, promotional lending constructs, and underwriting strategies.
• Proven track record of driving growth through varied distribution networks (e.g., aggregators, digital marketing channels) and understanding their unique risk profiles.
• Exceptional stakeholder management skills, with the ability to collaborate effectively across diverse disciplines and align teams towards a common goal.
• Demonstrated experience in leading and developing analytical talent, with enthusiasm for building and scaling a high-impact team.
• Strong analytical and data capabilities, supported by technical coding skills (SQL is essential; Python and Looker experience is a plus).
• Highly motivated by fast-paced, "zero-to-one" environments, comfortable navigating ambiguity, designing frameworks from scratch, and implementing significant changes.

What We Offer

• Competitive salary and incentive awards tied to performance.
• A learning budget of £1,000 per year for books, training courses, and conferences.
• Flexible working hours and trust in your ability to manage your time effectively.
• Support for relocation to the UK and visa sponsorship.
• A comprehensive benefits package (details available via the careers page).
• The opportunity to work remotely within the UK, with ad hoc meetings in London.
• A commitment to diversity, inclusion, and equal opportunities for all applicants.