Group Product Manager, Monzo
Business Banking
£115-150k
More information about location
Digital-only bank platform and marketplace
Posted today
Digital-only bank platform and marketplace
1001+ employees
Posted today
£115-150k
More information about location
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- Have proven experience at setting, communicating and executing on a clear and ambitious strategy across multiple products, bonus if this has been in the spend management space
- Have extensive experience shipping successful, customer-centric digital products in a fast-growing company
- Are passionate about building products that delight customers while driving commercial success
- Start from first principles, having built products that tackle long-standing customer problems in innovative ways, breaking from industry norms
- Are data-driven, metrics-focused, and honest about your work’s performance, with a drive for continuous improvement
- Are creative and capable of teasing out novel ideas and solutions from your team
- Are comfortable collaborating across design, data, user research, marketing, and engineering disciplines
- Excel at working with diverse teams and perspectives, thoughtfully challenging and influencing those you work with
- Communicate clearly and persuasively to a range of audiences, structuring your messages effectively
- Are a fast learner who is humble, curious, and eager to develop yourself and others
- Are excited by what Monzo is building
What the job involves
- We’re looking for a Group Product Manager to lead the Spend Management domain within Business Banking. In this role you’ll define the strategy and product vision for Monzo’s Spend Management solutions focusing on introducing new features, driving product-led growth and helping our customers streamline their finances
- Strategic planning: Develop a product strategy informed by customer insights, market opportunities, and business goals. Translate long-term strategies into actionable plans and prioritise effectively to maximise impact
- Driving product development: Lead a cross-functional team to design, build, and scale products for our business customers by deeply understanding their needs and the regulatory, operational, and technical constraints
- Leading and mentoring: As the product leader for the Spend Management domain you’ll be providing direction, supporting the team's development, and fostering a high-performing product culture
- Cross-functional collaboration: Work iteratively with teams across design, engineering, research, data science, product marketing, compliance, and other areas to refine and execute your strategy
- Communicating effectively: Inspire stakeholders with the product vision and share the right context with the right people at the right time
- Shaping the collective strategy: Support the Product Director by contributing insights and building a cohesive narrative for the broader Business Banking product strategy
- Enhancing the product discipline: As a senior member of the team, help develop the product discipline within Business Banking and across Monzo
Application process
- Our interview process involves 4 main stages:
- Recruiter Call
- Initial Call with Hiring Manager
- Experience Loop, consisting of x3 hour long interviews to assess Project Walkthrough, Case Study and Leadership
- Final chat with a member of our leadership team
- Our average process takes around 5-6 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
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
Many 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
$429.6m
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 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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