Third Party Risk Manager, Monzo
+ Share options
Digital-only bank platform and marketplace
Open for applications
Digital-only bank platform and marketplace
1001+ employees
Open for applications
+ Share options
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- You have experience in delivering third party risk management in a matrix environment
- You have a proven ability to implement sustainable uplift in risk processes
- You have a comprehensive understanding of outsourcing regulations, ideally obtained in banking or financial services
- You are proficient in developing strategies to ensure effective risk management of third-parties throughout their lifecycle
- You have a deep knowledge of, and ability to interpret risk regulations and standards across different jurisdictions
- You are well versed in Cyber, Information Security and Data risk management
- You have a good working knowledge of Third Party risk management tools/systems
- You are delivery focussed with a genuine appetite to develop sustainable solutions in an innovative way
What the job involves
- Reporting to the Head of Third Party Risk, you will become a part of Monzo's community, where your drive for innovation and your deep experience of all things Risk and Control will meet our commitment to revolutionising fintech. As a member of our team, you'll actively contribute to shaping our future, leaving a lasting mark on how we evolve
- Bringing your unique Risk and Control expertise gained in global organisations, to advance Monzo’s strategic goals and support our growth
- Proactively delivering impactful and effective Third Party Risk Management
- Designing, implementing and managing operational processes to enhance how Monzo manages Third Party Risk
- Having a pivotal role in developing sustainable ways to meet our regulatory requirements in a high-growth, technology-driven environment
- Striving to achieve high standards and instil established best practices in risk management
- Taking a collaborative and partnered approach to achieving business objectives with internal teams and external suppliers
- Having the ability to be both tactical and strategic when developing and delivering Third Party risk management solutions at Monzo
Application process
- 30 minute Recruiter call
- 30 minute Initial call with the Hiring Manager
- 2 hours of technical and behavioural interviews
- This process should take around 2-3 weeks - your schedule is really important to us, so we promise to be as flexible as possible!
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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