Senior Product Manager, Monzo
Business Borrowing
£85-120k
+Stock options
More information about location
Digital-only bank platform and marketplace
Open for applications
Digital-only bank platform and marketplace
1001+ employees
Open for applications
£85-120k
+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 have extensive experience of shipping successful, customer-centric digital products in a fast growing company
- It’s great if you’ve worked on lending products or other business banking products, but it’s not essential
- You’re passionate about building great products for customers, but you also deeply understand what makes your products succeed commercially
- You start from first principles. You’ve previously built products that tackled long standing customer problems in a new way, or otherwise broke from the industry status quo. You’re not satisfied to simply build the same product your competitors offer
- You’re data driven, passionate about metrics, and intellectually honest about how your work is performing -- and driven to continuously improve it
- You’re full of novel ideas and creative solutions, and able to tease them out of others too
- You’re comfortable spanning the worlds of design, data, user research, marketing and engineering
- 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 have the ability to communicate clearly and persuasively to a wide range of audiences, and in a structured way
- You’re a fast learner, humble and curious, and enjoy developing yourself and others
- What we’re doing here at Monzo excites you!
What the job involves
- Business Borrowing is the team that we formed to build and grow our borrowing products for the 500,000+ businesses who bank with Monzo. But we need more than one team to match our ambitions in this space and meet our customers’ growing needs
- We’re hiring a Senior Product Manager to lead a second team in this space
- You’ll lead a cross-functional team to design, build and grow products to support our business customers with their borrowing needs
- You’ll do this by building a deep understanding of customer needs in this space, as well as understanding what is and isn’t possible from commercial, regulatory, operational and technical perspectives. You’ll use this to set a product strategy
- You’ll communicate effectively with people of all levels of seniority. You’ll get people inspired by the product vision and you’ll share the right context with the right people at the right time
- You’ll lead planning processes and associated roadmap prioritisation to get your team working on the highest impact priorities that contribute to wider business goals
- You’ll work iteratively and collaboratively with credit risk, design, engineering, research, data science, product marketing, compliance and many others to refine your plan and execute against it effectively
- You’ll help to shape product strategy across Monzo by sharing insights from your work
- Leading a workshop with your team to hypothesise solutions to key customer pain points identified in research
- Presenting your latest product strategy to stakeholders at Product Review and gathering feedback and challenge
- Working closely with credit risk experts to ensure the product and credit strategy are tightly aligned
- Planning and joining research calls to better understand how businesses are borrowing today
- Speaking to compliance specialists to be clear on what rules the product needs to follow and to brainstorm ways to achieve this
- Researching and understanding market trends, industry best practices, and opportunities for Monzo to pursue
Application process
- 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
- If you have a preferred name, please use it to apply. We don't need full or birth names at application stage
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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