Head of Risk, Monzo
$170-230k
+ Equity
Digital-only bank platform and marketplace
Posted today
Digital-only bank platform and marketplace
1001+ employees
Posted today
$170-230k
+ Equity
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- You’ve built and scaled successful fincrime and fraud programs within fintechs
- You are proficient in SQL and are familiar with writing fraud and AML rules within Risk platforms
- You make data driven decisions to optimize both risk prevention and customer experience
- You are a problem solver, and can simplify complex fincrime problems for technical and non-technical audiences
- You’re an action-oriented problem solver, and have built scalable processes
- You have built strong relationships and collaborate with partners to reach alignment and resolve issues
- You can drive clarity amidst ambiguity and focus on the things that matter
- You’re a team player and can roll up your sleeves to get things done
What the job involves
- We’re looking for an experienced leader to scale our fincrime and fraud program for the US
- This pivotal role will ensure that our strategies, systems and processes effectively detect, prevent, and respond to financial crimes and fraudulent activities while supporting our growth objectives
- You will work closely with senior leadership, legal/compliance teams, and Product/Eng partners to build robust, proactive measures against financial crime risks
- Strategy Development: Build and implement anti-financial crime, fraud prevention, and risk management strategies that align with regulatory requirements, industry best practices, and Monzo’s objectives
- Data Analysis: Build and refine rules and models to improve customer and transaction decisioning
- Technology Integration: Collaborate with Data, Product, and Eng teams to implement solutions for detecting and preventing financial crimes as Monzo scales
- Vendor Management: Own supplier relations, including evaluation, onboarding and managing performance of 3rd party tools and technology
- Team Leadership: Build and lead a high-performing fraud operations team to meet SLAs. Foster a culture of continuous improvement, professional development, and collaboration
- Policy and Procedure Oversight: Implement and enforce policies and procedures related to financial crime and fraud prevention, including BSA/AML and KYC requirements, through rules and controls
- We have a hybrid working schedule, and trust you to work enough hours to do your job well, at times that suit you and your team
Application process
- He application journey has 4 key steps
- Initial Call
- Interview with Hiring Manager
- Take Home Task
- Cross Functional Interviews (Virtual and In Person)
- This process should take around 3-4 weeks - your schedule is really important to us, so we promise to be as flexible as possible!
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
$450.1m
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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