Group Product Manager, Monzo
Savings and Investments
£90-125k
Digital-only bank platform and marketplace
Job no longer available
Digital-only bank platform and marketplace
1001+ employees
Job no longer available
£90-125k
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- You’ve got 5+ years track record of shipping successful, customer-centric digital products in a fast growing company
- You have the ability to communicate clearly and persuasively to a wide range of audiences, and in a structured way
- You have the urge and resilience to challenge the status quo and make things better
- You can systematically break down and then solve complex problems (for customers and the business)
- You’re comfortable with numbers, can ground your thinking in analysis, can identify key metrics and their drivers and evaluate the success of your work
- You hone in on the highest leverage thing to work on, both for the product and your own time
- You make good decisions in complex situations where there’s often no “right answer”
- You’re full of novel ideas and creative solutions, and able to tease them out of others too
- You’re able to motivate, energise and inspire people towards a common goal
- You can work effectively with a diverse range of people and working styles to get stuff done, and are able to thoughtfully and constructively challenge and influence the people you work with
- You’re able to quickly build trust and manage disagreement
- You’re excited by the ambition of what we’re doing at Monzo and personal finance in general
- You’re a fast learner, humble and curious, and enjoy developing yourself and others
What the job involves
- You will be the first Group Product Manager in the team and will have the opportunity to shape how Monzo delivers its Saving and Investing products to millions of users from the ground up
- Lead a cross-functional team to develop and deliver a product strategy for the next phase of growth for our savings & investment products, including building a deep understanding of customer needs and market opportunities, and how we’ll differentiate ourselves and grow
- Collaborate with and influence key stakeholders across the organisation, including the wider product teams, company leadership, finance, marketing, compliance, legal, regulatory affairs and more to get alignment and support for the strategy
- Balance work to create long-term growth, and work to hit short-term growth targets
- Directly PM'ing one team in the organisation, understanding key customer pain points and problems, ensuring the team has clear goals and objectives, and empowering the team to make decisions quickly
- Line managing other Product Managers in the collective
- Helping define and construct a long term product strategy for our saving and investing products
- Identifying and deeply understanding customers needs to build products that solve real problems
- Instilling a test and learn mentality across your team and the broader product organisation and using data to prioritise and measure impact
- Working closely with data, design, marketing and engineering leaders to support and inspire your teams as they develop their product areas
Application process
- Our interview process involves 3 main stages
- Recruiter Call (30 mins) - Once you apply, one of our Recruiters will reach out to you for an introductory conversation
- Initial Chat (60 mins) - This will be an introductory conversation with the hiring manager for this role. We would love for you to do a short presentation on a project that you have led, ideally from inception to delivery, as a Product Leader where you have had to achieve multiple competing and often opposing objectives, for example build a near frictionless customer experience while mitigating risk
- Product Loop (2 hours and 45mins) - This stage consists of 3 separate interviews that usually happen across 1-2 days. This will be made up of a Project Walkthrough, Case Study and a Leadership interview. If you get through to this stage, your Recruiter will have a 20-minute chat with you beforehand to help you get ready and prepare for this stage
- Our average process takes around 3-4 weeks but we will always work around your availability
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 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
$448.8m
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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