Financial Health Operations Manager, Monzo
£47.6-58.1k
+ £50,000 options grant
Digital-only bank platform and marketplace
Open for applications
Digital-only bank platform and marketplace
1001+ employees
Open for applications
£47.6-58.1k
+ £50,000 options grant
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- In the spirit of transparency, is it essential that you have worked as a Senior/Operations Manager in FinHealth/Collections/Recoveries, to be considered for this role
- You have significant experience working in a leadership position as an existing Operations Manager in FinHealth (Collections or Recoveries)
- Experience in leading teams working in collections or recoveries within the financial difficulties space
- Experience leading back office, technical teams and with 3rd party service providers is highly desired but not essential
- You’ve led successful, large teams to achieve their goals and have an empathetic leadership style
- You’re as comfortable working 1:1 as communicating with large groups
- You empower your people to find solutions themselves
- You are an effective advocate and communicator of change
- You can motivate multiple teams working on ongoing operational work
- You are very hands-on and solve problems when you spot them
- What we are doing at Monzo excites you!
- You are comfortable working and communicating remotely
What the job involves
- We have an amazing opportunity for an Operations Manager in Financial Health to join our leadership team
- Monzo’s mission is to make money work for everyone, and this is especially important to us when our customers need help with their Monzo borrowing products, or may be struggling to repay
- As our lending portfolio grows, we are seeing increasing queries from customers and inevitably from people falling into financial difficulties and who are potentially vulnerable
- These conversations/queries/tasks are often technical or sensitive in nature, requiring our FinHealth COps to have a deep level of knowledge on our lending products, the assessment of customers affordability and potential vulnerabilities and how to meet our regulator’s high expectations
- To facilitate this, you’ll have the opportunity to lead teams working on a broad variety of financial difficulties, both customer facing and backoffice. Every person in our team cares deeply about their work and the impact that it can have on Monzo and our customers
- We work in teams of around 11 people, working on a variety of tasks. Some teams have an additional focus on specific types of work that are more complex in nature, while others have a more diverse set of skills
- Each Operations Manager supports and coordinates the work of their COps. You’ll directly manage around 6 Team Managers, and help them build successful teams and achieve their professional development goals
- You’ll organise people around you, be a point of escalation, and take appropriate action whenever you see a problem coming - whether it’s a service challenge, a risk associated with a financial difficulties task, or an urgent personal issue
- You’ll listen to your people, guide them through the challenges associated with scaling a company like Monzo, celebrate their every success, and drive the right outcomes for our customers and Monzo
- You’ll also have responsibility for some disciplinary and grievance matters and work closely with your colleagues in other COps teams and the People team to make sure that we apply these policies fairly across all areas of the COps team
- Partnering closely within FinHealth Group to deliver portfolio performance and changes at pace
- Instilling a culture focused on the completion of accurate, efficient work, and risk-awareness, in a team that needs to be laser-focused on both the customer experience and meeting regulatory requirements
- Impacting how Monzo’s lending products evolve to make sure that we have the customer at the centre of everything we do which hasn’t always been the case in this industry
- Identifying opportunities for automation and efficiency - driving through changes
- Helping Team Managers excel in their roles by having regular 1:1s, giving and receiving candid feedback, interpreting and acting on management information, coaching through challenging problems
- Contributing to a high performance culture
- Running group sessions for leaders, e.g knowledge sharing sessions
- Support in the interviewing and hiring of new leaders and COps
- Helping us become an exceptional place to work for the ambitious, highly-motivated, and mission-led COps that we hire
- Support our UK and SA teams deliver quality outcomes to our Fin Health Customers
- Support our domain in achieving our service levels
Application process
- Please note that due to the forecasted popularity of this role, we shall close it once we received enough applications. No further applications will be considered thereafter. So please apply asap and good luck! 🍀
- 🌈 The application journey has 5 key steps
- Submit your CV and answer the application questions
- 30 minute video Recruiter Call
- Leadership interview
- Values interviews
- Final chat with Hiring Manager
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 active users. The company faces competition from more traditional banks, such as Goldman Sachs and JP Morgan, which 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 at Welcome to the Jungle
Insights
Company
Funding (last 2 of 18 rounds)
May 2024
$190m
LATE VC
Mar 2024
$464m
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 HQ
City of London, London, UK
Leadership
TS Anil
(CEO)Also a Board Member at Accion. Previously Board Member at UK Finance, Global Head of Payments, Products & Platforms at Visa and was the Global Head of Retail Products at Standard Chartered Bank.
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