Credit Risk Specialist

Monzo Bank
London (near Moorgate)
Competitive salary + stock options + benefits
09 Aug 2018
08 Sep 2018
Ref: 814463
Job Sector
Banking, Credit Risk
Experience Level
Executive, Officer
Contract Type
Full time, Permanent

We’re looking for a Credit Risk Specialist to join our second line of defence and provide support to our first line Lending and Revenue teams.

Monzo has been growing rapidly over the last year, and we are just starting! Our customer base has been growing too, and as a result we are growing our lending offering. This is where you come in!

We believe there’s a better way to do banking

We really care about providing a phenomenal experience for our customers, and we want to be the best possible bank without getting stuck in the old ways of doing things, or trying to duplicate risk management frameworks seen in other banks.

We’re at the start of our journey to serve a billion customers

We’ve made some good progress so far! We now have more than 350+ staff, close to a million lovely customers and a full UK banking licence. We have a current account and overdraft, and lots more planned.

We need to carefully manage the risks we face

Like any other regulated bank, we need to make sure we’re compliant, but we want to do so whilst continuing with our agile “test and learn” approach to launching products. We are just starting to expand our lending portfolio and we need someone to join the second line of defence team to provide support and challenge to the first line lending team. We’re looking for someone with retail credit risk and/or compliance experience who likes getting into the details, analysing data and providing constructive challenge.

You’ll spend your time:

  • analysing the risks of new lending products, including developing and enhancing performance metrics
  • working closely with the first line of defence to ensure new lending products are compliant with all regulations
  • lead second line assurance work of the lending portfolio
  • preparing management information (MI) for the executive-level Risk Council and Board-level Risk Committee
  • 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

You should apply if:

  • you have experience of retail credit risk, including industry practices for overdrafts and other short-term lending products
  • you’re great at analysing data, building graphs and looking for early indicators of trends
  • you can summarise your analysis into the salient key points and explain it to others in plain English
  • you’re passionate about technology, and what we are doing here at Monzo excites you!

These aren’t essential, but we’d also love it if you:

  • understand how credit risk scorecards are used to make credit decisions
  • are familiar with how credit reference agencies work
  • are familiar with the FCA’s consumer credit sourcebook (CONC)


While there’s no hard deadline for this role, we plan to follow (roughly) the following timeline:

  • CV review from 23 July
  • Phone screening from 6 August
  • Take-home task from 13 August
  • On-site interviews from early September

If you are applying for this role after the end of July, that’s still OK! We’ll take this advert down as soon as we’ve found someone. But, your interview timeline will likely shift a week or two behind those dates. Your CV could also be on a ‘reserve’ list, depending where we are with candidates who applied first.

Competitive salary plus stock options and other benefits.

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.

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