Job Application for Borrowing Ops, Back Office at Monzo

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🚀 We’re on a mission to make money work for everyone.

We’re waving goodbye to the complicated and confusing ways of traditional banking.

After starting as a prepaid card, our product offering has grown a lot in the last 10 years in the UK. As well as personal and business bank accounts, we offer joint accounts, accounts for 16-17 year olds, a free kids account and credit cards in the UK, with more exciting things to come beyond. Our UK customers can also save, invest and combine their pensions with us.

With our hot coral cards and get-paid-early feature, combined with financial education on social media and our award winning customer service, we have a long history of creating magical moments for our customers!

We’re not about selling products - we want to solve problems and change lives through Monzo ❤️

Hear from our UK team about what it's like working at Monzo ✨

UK Remote | 💰£24,750 - £27,250 + Benefits | Hear from the team ✨

⭐Our Financial Health team

Our Collections team are the financial health heroes at the core of Monzo. They are here to identify and support customers who may be struggling with debt, offering them compassion and options to help. They do this with their top notch understanding of Monzo’s award winning lending products, credit file details and something we call a ‘decisioning process’ - something we’ll teach you all about!

This will be a great development opportunity for someone who is wanting to learn more about the Financial Health domain, add some skills to their repertoire and work with a new team; taking on a new challenge. The hours on offer are Monday - Friday, with a variance of shifts between 9am - 5.30pm or 9.30am - 6pm.

🔑You’ll play a key role by

Having an understanding of financial difficulties and collection processes will allow you to investigate problems and help customers who are struggling. You’ll build up a detailed knowledge of how the debt industry works, alongside the landscape of support available to customers who work with third parties such as StepChange.You’ll require soft skills allowing you to help customers who are struggling with debt such as appropriate tone of voice and a deep understanding of the regulatory requirements within the debt industry. Where other domains need support, Back Office Advisors will be expected to support.

The role will consist of communicating with third party debt organisations and setting up the required solution on the customer’s account. In this role you would be predominantly working with debt solutions but some of your time will be spent offering general customer service to customers who have questions, feedback, complaints or compliments via chat and/or phone. Where other domains need support Borrowing Back Office Advisors will be expected to support.

🤩 We’d love to hear from you if

Communicating with third party debt organisations such as StepChange, PayPlan etc
Setting up the required debt solutions on customer’s accounts and letting the customer know what the solution looks like and how this impacts their credit file etc
Engaging with other domains in the business and sharing knowledge on our borrowing products to deliver fair outcomes
Understanding our regulatory obligations and ensuring these are fulfilled in our customer outcomes
Predominantly talking to third party debt organisations but some of your time will be spent offering general customer service to customers via chat and/or phone.
Working efficiently in line with performance metrics

You should apply if:

You have previous experience working within the Collections industry or a Back Office role working with third parties
Previous experience working with Debt Management Organisations such as StepChange
You have a working understanding of UK laws and regulations around credit including CONC, CCA and SYSC
You have experience of providing customers in financial difficulty the best outcome!
You are a good communicator, enjoy listening and are empathetic
You have a sound understanding of credit products
Have strong communication skills both written and verbal!
You’re comfortable speaking on the phone to customers and would be happy to speak to our customers through different methods

Desired, but not essential, experience would be:

Working with third party debt organisations such as StepChange, PayPlan etc

🙌What’s in it for you

£1,000 learning budget each year to use on books, training courses and conferences.
This role will be fully remote in the UK. With opportunities to visit the Cardiff or London office.
The working hours of this role are Monday to Friday, with a variance of shifts between 9am - 5.30pm or 9.30am - 6pm.

🌈 The application journey has 3 key steps

Stage one - Application and answers.
Stage two - Take home task.
Stage three - Interview with two of our Team Managers that will last 1 hour.

This process should take around 2-3 weeks - your schedule is really important to us, so we promise to be as flexible as possible!

We have some guidelines on using Artificial Intelligence (AI) to ace an application and interview at Monzo. You can read them here.

This role may still include working some Collections tasks to support our service position.

Equal opportunities for everyone

Diversity and inclusion are a priority for us and we’re making sure we have lots of support for all of our people to grow at Monzo. At Monzo, we’re embracing diversity by 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, 2023 Diversity and Inclusion Report and 2024 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.

#LI-REMOTE/SB

Equal opportunities for everyone

Diversity and inclusion are a priority for us and we’re making sure we have lots of support for all of our people to grow at Monzo. At Monzo, we’re embracing diversity by 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, 2024 Diversity and Inclusion Report and 2024 Gender Pay Gap Report.

If you have a preferred name, please use it to apply. We don't need full or birth names at application stage 😊

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🇺🇸 Are you a US Person?

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A US Person is defined as someone who:

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We legally have to verify your Right to Work in the UK before you can start working for us. We're asking for this information now so we know later what type of right to work check we need to do. Your answer to this question won't affect the outcome of your application, unless you'd need visa sponsorship but are applying to a role we can't sponsor.

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Please note that any answers that are found to be plagiarised or derived from AI e.g. ChatGPT, will be declined.

I confirm that if I was successful within this role, I would be working from home in the UK in a safe, private and distraction free environment. With a solid internet connection (download speed - 10mbps; upload speed - 5 mbps). I understand that a distraction-free environment also means that I have no caregiver or dependant responsibilities during my working hours.

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The entry salary for this role is £28,050 - £34,000 based on experince. Being offered the higher end of the scale will be based on your direct and relevant experience with critical life events, bereavement and third party access experience, as well as your performance in the interview. With that in mind, what are your salary expectations?

1.) Can you provide an example of how you have helped a customer who was struggling with debt to find a suitable repayment solution? What was your approach, and what tools did you use?

2.) Describe a situation where you had to ensure compliance with regulatory requirements in the debt industry. What steps did you take, and what was the outcome?

3.) Can you tell us about a time where you have driven an initiative or idea to support and work with your team to achieve a wider goal?

4.) Reflecting on situations where customers face financial difficulties, what strategies can be employed to ensure that the outcome is equitable and supportive?

4.) Please provide examples of how you've navigated these situations in the past, highlighting any specific actions or considerations that contributed to a fair and satisfactory resolution for the customer.

I confirm that I understand that this role may still include working some Collections tasks to support our service position.

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Borrowing Ops, Back Office

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