Senior Credit Risk Analyst

Who are 118118 Money?

At 118 118 Money, we are dedicated to helping Britain achieve financial fitness. In 2023, we proudly relaunched the iconic 118 118 twins, reaffirming our commitment to improving the financial health of individuals across the nation. Our loans and credit cards are designed specifically for those often overlooked by mainstream lenders, empowering over 800,000 customers on their journey to better financial well-being.

Our vision is to champion financial fitness throughout Britain by offering accessible products, valuable resources, and unwavering support. We are on a mission to provide fair and transparent credit solutions that promote financial well-being for all.

With an impressive 4.8 Trustpilot rating, we take pride in being an approachable lender, ready to provide clear financial support. If you’re inspired by what you’ve read and want to make a real difference in people's lives, keep reading—your next opportunity to contribute to our mission could be just a few clicks away!

What you’ll do:

Based in London, the Senior Loans Credit Risk Analyst is a hands on individual contributor role owning credit risk analysis for the loans portfolio, writing the SQL, building the analysis, producing the MI and turning findings into clear insight and recommendations for the Head of Loans, finance, commercial and wider senior stakeholders.

AI and large language models such as Claude are core to how we work and you will use them throughout your analysis to accelerate your work and pressure test thinking, while critically challenging AI outputs and the underlying data to arrive at the right answer.

Our fast paced, dynamic environment requires curiosity, transparency and the confidence to challenge assumptions and influence stakeholders. You are expected to work independently, show your working, surface issues early and take analysis through to a decision and an outcome.

Key Responsibilities:

Portfolio Monitoring:

• Monitor portfolio credit performance across delinquency, roll rates, losses, risk grades, vintages, scorecards, products and channels; identify emerging risks and quantify their financial impact.
• Monitor front-book and back-book dynamics, term structure, early arrears and prepayment behaviour.
• Lead portfolio and affiliate performance reviews, identifying key drivers, emerging trends and areas requiring action.
• Develop and maintain effective credit risk MI, providing senior stakeholders with a clear view of portfolio performance, key risks and recommended actions.

Credit Strategy & Risk Appetite:

• Manage and monitor credit risk appetite, identifying areas of under- or over-performance and recommending appropriate actions.
• Assess the impact of credit policy, cut-off and decisioning changes on approval rates, risk mix, expected loss, customer outcomes and profitability, including analysis of marginal risk.
• Contribute analysis into pricing-for-risk, term and loan size strategy and origination cut-off design.
• Support the development of bespoke partner strategies, ensuring performance remains aligned with agreed credit risk appetite.

Commercial Partnering:

• Provide credit risk assumptions and insight into budgeting, forecasting and business planning, working with Finance and Commercial teams to ensure risk is appropriately reflected.
• Partner with the Head of Loans and wider senior stakeholders, providing clear recommendations and constructive challenge on credit risk and portfolio strategy.

Continuous Improvement:

• Keep up to date with consumer credit risk trends and best practice, and identify opportunities to improve analytical approaches, tools and use of AI and large language models.

What you need:

• 3–5 years' experience in consumer credit risk, ideally within cards, unsecured loans or a similar consumer finance environment, with experience in portfolio management, credit strategy or credit risk analytics.
• Strong understanding of consumer credit risk and portfolio performance, including delinquency, roll rates, losses, vintages, scorecards and expected loss.
• Experience with credit policy, cut-offs, decisioning strategies and/or risk appetite, with the ability to assess risk and recommend changes based on robust analysis.
• Strong analytical and problem-solving skills, with the ability to turn complex data into clear insights, recommendations and actions for senior stakeholders.
• Strong proficiency in SQL is essential. Experience with cloud data warehouses such as Snowflake is advantageous.
• Proficiency in Excel and Microsoft Office.
• Hands on experience using AI and large language model tools such as Claude, ChatGPT or Copilot as part of daily analytical work and a genuine willingness to learn, experiment with and push these tools further as they evolve.
• Ability to challenge AI outputs and the underlying data critically, using judgement and analytical rigour to arrive at the right answer rather than accepting outputs at face value.
• Strong commercial awareness and the ability to balance risk, customer outcomes and financial performance.
• Confident working independently, challenging assumptions and influencing stakeholders in a fast-moving environment.
• Familiarity with FCA requirements, Consumer Duty and/or IFRS 9 is advantageous.

What’s in it for you?

• A competitive salary
• Company bonus scheme - if the business does well, you should get rewarded for your hard work
• 25 days' annual leave, (plus bank holidays) increasing to 27 after two years service and 30 after five – your balance stars from day 1 so don’t delay and start planning your time off!
• Company pension scheme – we provide an enhanced pension scheme with generous employer contributions to set you up for the future which includes life cover of 4x your base salary
• Eye test – you can claim a freebie each year, or if your needs change
• Employee Assistance Programme - we offer membership to a recognised scheme to support you and your wellbeing
• A strong ethos of equality, diversity, and inclusion
• Wide business exposure, in terms of business disciplines, projects and stakeholders
• Direct contribution to business transformation and growth
• Huge learning and career progression opportunities
• Being valued as an individual from our team
• Full training, support and mentoring to develop a successful career in financial services

Like what you’ve heard? Great - apply now!

As a candidate, we know the interview process can be daunting and it’s important that you have a great experience with us. We will do all we can to make sure you are fully informed and excited by our story so we get to see the best from you. If you need any adjustments made to help you with the interview process, just let us know and we’ll do our best to accommodate them.

Following your application, we will want to learn more about you, your motivations, experiences, and values. In turn, you get to learn about our business, our culture, the role and what we can offer you.

If you think you’d be great for the role, but don’t necessarily tick all the boxes, we’d still love to hear from you, so apply today and take the first step towards an exciting future!

Equal Opportunity Employer

At 118 118 Money we are passionate about equality, diversity, and inclusion. We are committed to being representative of different cultures, background, lifestyles, and groups, where everyone has an equal chance to succeed. It is our policy to treat everyone fairly and to ensure no one is disadvantaged or receives less favourable treatment. We recognise that everyone has different needs and while we can’t accommodate every flexible working request we are more than happy to have a conversation about it

How we handle your data

118 118 Money requires your personal data to process your application for a position within our Company. If your application is successful through to telephone screening/interview, and you are not selected for a role, we may store your personal data for 12 months to enable our HR team to contact you should future roles be advertised.

Where you apply, but are not selected for telephone screening/interview, we will delete your personal data once the position is filled.

118 118 Money does not use automated decisioning or profiling when selecting candidates.

For your rights under GDPR please see our Privacy Policy

Please be aware that should we pursue your application, all our Financial Services employees will be expected to complete background checks to assess suitability for employment, these include; a criminal record, identity, sanctions, adverse finance, fraud prevention and reference checks to comply with our regulatory requirements .