📍London | 💰 £70-90k + Stock Options + Benefits | Technology - Credit & Data

About us:

At Monzo we believe there’s a better way to do banking - we care deeply about our customers, are innovative and execute quickly.

Our mission is to revolutionise the way people manage their finances by putting them in control and promoting their financial wellbeing. Our Borrowing business is growing rapidly (both on our existing products, and with the planned launch of new products). We aim to create a genuine feel-good factor when it comes to personal credit, and are looking for driven, analytical and creative individuals to help us achieve this goal.

We are scaling up our Credit Modelling & Monitoring team to support the rapid growth and evolution of our portfolio. This role is a senior analyst within that team. The team is responsible for IFRS 9 modelling and monitoring, stress testing, capital modelling, and balance sheet forecasting. Strong data and analytical skills are a must, as is a deep expertise in credit risk modelling and IFRS9 provision methodology in particular. Experience modelling and monitoring a large / complex portfolio is highly desirable. Experience in retail Credit Strategy, Capital (e.g. IRB modelling), Forecasting and Stress Testing are desirable, but not essential.

Monzo’s Borrowing Credit & Data team

Our Borrowing Credit & Data team is the largest and most diverse team within Monzo’s Data Discipline, and is also one of the largest parts of the Borrowing Collective.
This team sits at the core of our lending business. We design products, decide who to lend to, set underwriting policy, track the volume of new originations, identify customers who need help, manage the portfolio, measure risk and compute the core metrics required both for Monzo’s senior management and for our external financial reporting. We set prices, build predictive models, run experiments, build dashboards, enhance data pipelines and manage Monzo’s credit risk.

Our Data team's mission is to Enable Monzo to Make Better Decisions, Faster

At the core of this mission sits our data platform. We're great believers in powerful, real-time analytics and empowerment of the wider business. Our engineers collect analytics events from their microservices, and upload these into our Data stack for analysis. We optimise for simplicity and re-usability – all our data lives in one place and is made available via our data warehouse in Google BigQuery.

Our technology stack

We rely heavily on the following tools and technologies (note we do not expect applicants to have prior experience of all them):

• Google Cloud Platform for all of our analytics infrastructure
• dbt and BigQuery SQL for our data modelling and warehousing
• Python for data science
• Go to write our application code
• AWS for most of our backend infrastructure

Your day-to-day responsibilities:

• Owning and delivering projects, covering: methodology design, parameter calibration and code implementation
• Investigating changes in ECL & conducting driver analysis
• Designing reporting dashboards and monitoring these monthly to explain the trends in our rapidly evolving portfolio
• Optimising the credit risk and economic models used in IFRS9
• Communicating reporting outcomes to Monzo’s senior team (including our General Manager of Borrowing, CFO and CRO)
• Coaching and mentoring our more junior analysts

You should apply if:

• You have a strong background in IFRS9 impairments
• You have strong end to end experience in the development and implementation of credit models (e.g PD, LGD, EAD). Experience in a validation or monitoring setting is also well regarded.
• You have strong experience in monitoring ECLs and conducting driver analyses
• You have strong analytical skills and a track record of using these to deliver technical projects
• You have a solid technical toolkit. Python (or R) and SQL are a must-have
• You can convey problems and solutions using clear and simple language, both written and verbal (see Monzo’s tone of voice guide). This is particularly important for communicating complex issues and priorities to non-experts
• You're impact driven and eager to have a real positive impact on the company, our products, our users and your team-mates
• You have a self-starter mindset; you proactively identify issues and opportunities and tackle them without being told to do so
• You're a team player whom your colleagues can rely on

The Interview Process:

Our interview process involves 4 main stages:

1. Recruiter Call
2. Initial Call with the hiring manager
3. Take Home Task
4. Final Stage interviews (x3)

Our average process takes around 3-4 weeks but we will always work around your availability. You will have the chance to speak to our recruitment team at various points during your process but if you do have any specific questions ahead of this please contact the recruiter chrissyschmid@monzo.com.

What’s in it for you:

💰 £70-90k base salary ➕ plus stock options

📍 London (1-2 days a week)

⏰ We offer flexible working hours and trust you to work enough hours to do your job well, at times that suit you and your team.

📚Learning budget of £1,000 a year for books, training courses and conferences

➕And much more, see our full list of benefits here

Equal Opportunity Statement

We are actively creating an equitable environment for every Monzonaut to thrive.

Diversity and inclusion are a priority for us and we are making sure we have lots of support for all of our people to grow at Monzo. At Monzo, embracing diversity in all of its forms and fostering an inclusive environment for all people to do the best work of their lives with us. This is integral to our mission of making money work for everyone. You can read more in our blog, 2022 Diversity and Inclusion Report and 2022 Gender Pay Gap Report.

We’re an equal opportunity employer. All applicants will be considered for employment without attention to age, ethnicity, religion, sex, sexual orientation, gender identity, family or parental status, national origin, or veteran, neurodiversity or disability status.

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