We’re looking for a data-driven, commercially-minded business analyst to make sure we’re systematically and responsibly lending to the right people.
At Monzo we’re working to build the best current account in the world. We believe there should be an alternative to the banking of the past: we're focused on solving problems, rather than selling financial products, making your financial life simpler, and giving you complete control from your smartphone.
Getting lending right is crucial to the bank's success, as overdrafts will be our primary source of revenue. We believe that building an honest relationship with our customers is essential to offering the best current account in the world. You’ll be working directly with our Head of Lending to develop our lending platform, ensuring we are operating within our risk appetite thresholds, and exploring ways that we can use lending to simplify our users’ personal finances.
This is your opportunity to re-think lending and how it can help our customers make better financial decisions.
You’ll iteratively develop the criteria we use to decide who we want to lend to, balancing the customer’s suitability, our risk appetite for losses on lending that can’t or won’t be repaid, and commercial sustainability.
You’ll be responsible for:
- analysing the data we have to build a comprehensive, nuanced, predictive set of rules for good lending decisions
- using the data we have to ensure we’re offering overdrafts to appropriate people
- experimenting with external data sources and integrating them into the decision making process
- testing hypotheses to determine how we can make good lending decisions for customers where traditional credit bureaux have insufficient data (e.g. those who are new to the UK)
- iterating and building our ruleset as we gain more information, both from Monzo account usage and external sources
- determining what signals indicate changes in someone’s credit risk profile, and how we both adjust our lending appetite and provide them with support for any financial difficulties they are facing
- informing our overdraft fees and other credit pricing decisions, balancing our risk appetite, commercial concerns, fairness to our customers and transparency.
We want to take an inclusive, sustainable approach to lending, and to automate as many of the decisions as we can. This means working out how we can systematically determine overdraft suitability even for customers without a traditional credit history. We also want to ensure that our customers are able to fully understand the implications of taking credit with us, how much it will cost them, and can make an informed decision on whether what we can offer is right for them.
You’ll have an amazing opportunity to design and support the implementation of our credit decisioning system. Not only will you design our overdraft rules, you’ll also shape how they are implemented and structured relative to information from our fraud engine, and the information we receive directly from our customers.
As a business analyst in the lending team, you’ll work alongside engineers and our Head of Lending, as well as collaborating with Risk, Data, Design and Customer Operations, to develop lending products that help people borrow on terms that are fair and transparent.
You'll need to be hands-on, deeply analytical and passionate about making financial life simpler for our users.
You should apply if:
- You’re comfortable composing queries and analysing data in Excel, SQL or R
- You delight in making business decisions based on data and user feedback
- You are commercially-minded and user-focussed
- You take an iterative approach - you believe in making changes and learning from feedback as more information becomes available
- You’re hands-on and self-motivated
Bonus points for previous experience working with lending or credit products and risk. However we’re very happy to teach you!
