Senior Decision Scientist, Monzo
£70-100k
+ Stock options
More information about location
Digital-only bank platform and marketplace
Open for applications
Digital-only bank platform and marketplace
1001+ employees
Open for applications
£70-100k
+ Stock options
More information about location
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- We rely heavily on the following tools and technologies (although we do not expect applicants to have prior experience of all them):
- Google Cloud Platform for all of our analytics usages
- BigQuery SQL and dbt for our data modelling and warehousing
- PyData stack for model development and offline deployment
- Google AI platform for cloud computing
- AWS for backend infrastructure
- Python for ML model microservices
- Go lang for most other microservices
- You are result oriented and motivated by the impact on our customers and business
- You enjoy a high degree of autonomy and thrive in a fast-paced environment
- You are keen to grow your knowledge in both business and technology
- Excellent SQL and Python skills with good understanding of best practices in software engineering and data engineering
- In-depth knowledge of statistical and machine learning models: gradient boosted trees, logistic regression, neural networks, survival analysis, etc
- Solid knowledge of statistics: hypothesis testing, confidence intervals, bootstrap
- Experience of end-to-end model development and maintenance of ML models used for business critical decisions, ideally in a regulated industry
- Great attention to details while keeping an eye on the big picture
- Excellent communication skills to articulate complex problems
- Capability to build mutual respect and trust with people of different background
What the job involves
- The mission of Borrowing Decision Scientists is to improve the customer and business outcomes through better automated decisioning, using Machine Learning and Statistical modelling
- We have a primary focus in credit risk modelling, with our expertise also applied to predict and optimise utilisation, pricing, collection and marketing
- You will be working alongside a small team of very experienced Decision Scientists, with well established toolings for the fully lifecycle of ML models
- Each of you owns multiple ML applications end-to-end, from experiment design and data curation, to deployment and monitoring
- You will be empowered to innovate in the data, methodologies and toolings, so we can build better models easier and faster
- You will have exposure to all Borrowing products and applications, with autonomy to decide what are the most impactful topics to work on, and how to deliver them
- You will work closely with our Credit Strategy Analysts, Model Validation Analysts, Backend Engineers, and Product Managers, to fit your model development into the product roadmap
- You are also empowered to think big about the business, market and customers, to influence our product and credit strategy beyond just the world of models
Application process
- Our interview process involves 3 main stages:
- Recruiter Call
- Take Home Task
- 3x (virtual) face-to-face stages
- Technical interview
- Case study
- Value & collaboration
- Our average process takes around 3-4 weeks but we will always work around your availability
Salary benchmarks
Our take
Monzo is a challenger bank that fully operates online and offers a full range of current, savings, business accounts, and more. The speed of the challenger banks to provide a great experience has been impressive, and the number of competitors appearing has proven the consumer desire for innovation.
Monzo remains one of the popular online banks, with more than 6 million customer active users. The company faces competition as more traditional banks, such as Goldman Sachs and JP Morgan, have launched their own digital banks. However, the new technologies that the company is built on enable it to expand quickly (with fewer issues) than the incumbent players' offerings.
With an increasing amount of people switching banks, the company's ever-expanding suite of banking and financial services (such as its buy-now-pay-later offering) has resulted in Monzo receiving the second-highest net switching gains among digital challenger banks (just behind Starling).
After setting U.S. expansion plans aside in 2020, the company launched in the U.S. market in early 2022, partnering with Sutton Bank to provide its U.S. accounts. After several years focused on narrowing its losses, Monzo hit profitability in the first two months of 2023. In the same year, 2 million new customers joined, tallying its customer base at 9 million in 2024.
Kirsty
Company Specialist
Insights
Many candidates hear
back within 2 weeks
42% female employees
19% employee growth in 12 months
Company
Funding (last 2 of 18 rounds)
May 2024
$190m
LATE VC
Mar 2024
$447.3m
LATE VC
Total funding: $1.9bn
Company benefits
- Yearly Salary Review + Proactive pay increases to reflect growing responsibilities + Share options
- Flexible working hours
- Work From Home Opportunities + we'll pay for any equipment you need to do your job
- 24 days holiday a year, plus bank holidays
- Paid sick leave for both physical & mental health + Health insurance via AXA or Vitality + Additional health insurance through Medicash
- Employee Assistance Programme
- Learning budget of £1,000 a year
- Aviva Pension Scheme + 4% Employer Contribution
- Paid maternity, paternity, adoption or shared parental leave (after 13 weeks of employment)
- 52 weeks of primary caregiver leave (6 months at 100% pay, 13 weeks at Statutory Maternity Pay, 13 weeks unpaid)
- 3 months of secondary caregiver leave at 100% pay
- Unum Life Insurance
- Access to fertility and family-forming health benefits via Fertifa
- Abellio Season Travel Tickets + Cycle-to-Work Scheme
Company values
- Be hard on problems, not people 🙌 We create supportive communities to help people thrive.
- Make a difference 🚀 We solve real problems, working on things that have the biggest impact for our customers and each other.
- Help everyone belong 🤗 We’re building a bank for everyone. We embrace differences and make sure everyone feels welcome.
- Think customer first; grow Monzo safely 🥕 We always do what's best for customers. It's the right thing to do and the safest way to grow.
- Default to transparency 🎤 We’re open with each other and customers unless we have good reason not to be.
- Think big, start small, own it 🌲 We’re ambitious and shoot for the moon, working iteratively to get the best results.
Company HQ
City of London, London, UK
Articles
Founders
Jonas Templestein
(CTO)Founder of HipDial. Former Software Engineer at Starling Bank.
People progressing
Joined in the Customer Operations team. Moved to be a Financial Crime Analyst after 5 months. Then moved again to be a Business Analyst after 2.5 years. Currently working as a Senior Product Manager.
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