Product Operations Manager, Monzo
Card Payments
£60k
+ Share options
1-5 days a week in office
Digital-only bank platform and marketplace
Open for applications
Digital-only bank platform and marketplace
1001+ employees
Open for applications
£60k
+ Share options
1-5 days a week in office
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- Proven experience in inventory management, preferably in a banking, retail, or e-commerce environment
- Strong data, analytical, and problem-solving skills
- Demonstrated diligence, attention to detail, and high accuracy in previous roles
- Excellent communication and interpersonal skills to collaborate effectively with internal and external stakeholders
- Ability to prioritise tasks and manage multiple projects simultaneously
- Proficiency in inventory management/database software
What the job involves
- As the Cards Operations Manager, you’ll play a crucial role in getting our iconic hot coral cards into the hands of customers quickly, seamlessly, and efficiently
- You’ll oversee all aspects of the card fulfilment process in the UK and set the strategy for Monzo to do the same on a global scale as we expand internationally
- Collaborating closely with internal teams, suppliers, and logistics partners, you will manage and optimise all of our card fulfilment processes
- You will also work with product teams, designers, and suppliers to develop and launch new card and packaging products, ensuring they are attractive, functional, accessible, and sustainable for our 10 million (and counting) customers, across personal and business banking
- In addition to managing the physical card supply chain, you’ll work with acquiring banks and merchants to ensure our cards are universally accepted, and to optimise transaction approval rates, ultimately ensuring a seamless, market-leading experience for our customers
- Maintain and develop our card stock management system
- Check and approve invoices against deliveries, ensuring accuracy and compliance with contract pricing
- Define and implement a strategy to scale card production and fulfilment across Europe efficiently
- Manage supplier performance including SLA adherence and quality control
- Review accuracy of forecasts vs actual orders. Work with the data team to improve the accuracy of forecasting models
- Collaborate with product, design, engineering teams, and suppliers to develop and launch new card and packaging products
- Work with suppliers and the ESG (Environmental, Social, and Governance) team to improve the accuracy of supply chain emissions measurement. Identify opportunities for improvement and promote sustainability initiatives within the card issuing domain
- Train and onboard new team members responsible for card stock management, ensuring a smooth transition of responsibilities
- Stay up-to-date on industry trends and best practices in inventory management to drive continuous improvement in the card stock management process
- Collaborate with cross-functional teams to identify and implement process improvements to improve efficiency and customer outcomes
- Lead the selection process, negotiations, and onboarding of potential new suppliers
- Be prepared to travel occasionally for supplier site visits and design on press sessions, and be in the office regularly for design review meetings
- Ensure that all merchants accept our bank cards, coordinating with relevant teams to address any acceptance issues and facilitate smooth integration
- Optimise transaction approval rates by identifying and addressing potential roadblocks or inefficiencies in authorization processes
Application process
- Our interview process involves 3 main stages:
- Recruiter call
- Initial call
- Full loop: 1 hour Technical Interview and 1 hour Behavioural Interview
- Our average process takes around 3-4 weeks but we will always work around your availability
- You will have the chance to speak to our recruitment team at various points during your process but if you do have any specific questions ahead of this please contact us
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 at Welcome to the Jungle
Insights
Few 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
$423.2m
LATE VC
Total funding: $1.8bn
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
Leadership
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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