We’re searching for an experienced, innovative and adaptable Lending Strategy & Commercial Director to in-still strategic thinking and commercial discipline into our rapidly growing lending business.
Monzo is an exciting combination of a bank and a tech start-up, started from scratch in February 2015 to build a bank that makes money work for everyone. We’re focused on solving problems, rather than selling financial products, making your financial life simpler, and giving you complete control from your smartphone.
While we currently have ~3 million customers and more than a thousand employees we’re dreaming of expanding around the world, so there are bigger challenges to come!
Combining key learnings from traditional financial institutions, some of the fastest growing (fin)tech companies in the world and your own unique approach, you will build a world class strategy & commercial team, that is collaborative, fosters open and honest communication and embraces continuous change and learning. This team will enable our product teams and our Lending business as a whole to deliver superior commercial results, whilst reinventing the world of lending, starting from the experience of the customer.
- Leading (including building out) a team of credit and business analysts this role will be responsible for the commercial performance of Monzo’s lending book including:
- Working with senior stakeholders to define the commercial targets (e.g. agreeing the annual financial forecast, define return on equity and return on asset hurdles etc…)
- Setting pricing and proposing credit cut-offs
- Proposing credit limit strategies, both at origination and on-going
- Creating commercial proposals to underpin any proposed changes to lending strategies
- Partner closely with the Chief Credit Officer and lending leadership team to ensure the business delivers against agreed goals
- Work with Monzo’s lending leadership team to develop and implement the bank’s medium to long term lending strategy
- Help the Chief Credit Officer to identify and evaluate potential M&A opportunities
- Scout new product ideas and determine best go-to-market strategies
- Define and implement key strategic initiatives within Monzo’s lending business
- Support Monzo’s lending product squads with product-specific commercial analyses to guide their work
- Advise the Chief Credit Officer how to best manage the cost base of Monzo’s lending business as we continue to scale
- Build and coach a team of outstanding strategic and commercial thinkers, combining deep lending expertise, with (fin)tech innovation and sound commercial reasoning
- In-still a culture of continuous improvement, constructive feedback and learning throughout the Strategy & Commercial team
- Build and maintain strong relationships with Monzo’s executive committee, the Monzo board, banks, other fintechs and potential future partners
You should apply if you have:
- Extensive banking and lending experience at Commercial Director level (or equivalent) - ideally paired with leadership experience in a fast growing startup
- Strong commercial acumen and understanding of the relationships between key financial and non-financial business drivers
- Sound quantitative skills and expertise in working with big data sets, rapidly translating results into meaningful recommendations
- Strong negotiation skills - you know how to collaborate with 3rd parties
- Solid track record of delivering strategic initiatives at pace in complex, continuously evolving organisations
- Excellent planning, organisation and time-management skills, as well as the ability to multitask and lead several projects in a dynamic start-up environment
- Very strong interpersonal skills coupled with thoroughly developed presentation skills, both verbal and written
- Excellent stakeholder management skills across a range of functional areas
- Strong coaching skills with ability to provide empathy and guidance to other members of the Strategy & Commercial team to ensure their continuous development
- Curiosity, enthusiasm and adaptability - you are a hands-on leader ready to jump in