Product Director, Monzo
Core Banking, Accounts
£140-170k
+ Stock Options
More information about location
Digital-only bank platform and marketplace
Be an early applicant
Digital-only bank platform and marketplace
1001+ employees
Be an early applicant
£140-170k
+ Stock Options
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
- You are a seasoned product leader, and have a track record of leading high-performing product teams at a fast-growing consumer tech company to:
- Build highly engaging (daily/weekly) experiences for millions of customers
- Deliver company trajectory-changing impact
- (nice-to-have) build a multi-market product, with a proven ability to balance priorities across geographies
- You're data-driven and commercial, and have a track record of collaborating with data scientists to define key metrics, run experiments, and deliver business impact
- You can systematically break down and solve complex problems
- You have good judgement, and you’re able to make good decisions in complex situations where there’s often no “right answer”
- You have the urge and resilience to challenge the status quo and make things better, and are full of creative ideas for how to do so
- You can work effectively with a diverse range of people and working styles - spanning engineering, design, data, user research, marketing, legal and compliance - to get stuff done
- You’re a great storyteller, who is able to motivate, energise and inspire people towards a common goal
- You’re passionate about building value for customers and not just achieving business results, and are excited about our mission at Monzo
- You’re intellectually honest about your work's performance, continually striving for improvement
- You’re a fast learner, humble and curious, and enjoy learning every day and sharing your knowledge and experience
- You’ve managed a team of PMs, have a proven ability to coach and develop others, and can provide clear and constructive feedback to your team and other disciplines
- You can get hands-on when necessary, to fill gaps - in people or experience - and set a practical example for what great looks like
What the job involves
- Core Banking is responsible for the current account that makes money work for 12 million customers. This includes the Personal Account, Joint Account, Under 16s and 16 - 17 accounts, and Subscriptions (Extra, Perks and Max). It’s responsible for well-loved features like the 1p Savings Challenge, Pots, Trends and more
- As a Product Director within Core Banking, you’ll lead a team of Product Managers to define and deliver a strategy to make everyday money magical for everyone
- You’ll be responsible for our main account types (personal, joint, U16s, 16-17) and core value props like travel, shared finances, rewards and loyalty, and money management (including payday, bills, budgeting, insights and more)
- Lead the charge: build a product vision and strategy for your area, ensuring alignment with Monzo’s goals and an exceptional customer experience
- Develop a team: build and coach a high-performing product team to obsess over customers, innovate, move quickly and ultimately enjoy their work
- Communicate effectively: get people inspired by the product vision and share the right context with the right people at the right time
- Collaborate seamlessly: partner with engineering, design, data, research, marketing and other teams across Monzo to get stuff done
- Have impact: define, deliver and measure the impact of the customer-focused experiences you create
Application process
- Our interview process involves 4 main stages:
- Recruiter Call
- Initial Call with Hiring Manager
- Final Loop, consisting of x3 hour long interviews to assess Project Walkthrough, Case Study and Leadership
- A final stage with a VP or CPO within the Product 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 but if you do have any specific questions ahead of this please contact us on tech-hiring@monzo.com
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
$462.8m
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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