We’re looking for someone to work in the second line of defence who is experienced, collaborative and passionate about Monzo's mission.
At Monzo we do things differently: we truly care about providing a phenomenal experience for our customers. We believe there’s a better way to do banking, and we want to be the best possible (fully compliant!) bank without getting stuck in the old ways of doing things.
We currently have around 2,500,000 customers, 1,000 wonderful staff and plans to continue growing so there are lots of interesting challenges to come.
We operate a “three lines of defence” model of risk management at Monzo: you’ll be sitting in the second line as part of our Compliance team, specifically focused on building out and completing compliance monitoring and assurance for Financial Crime. You will report to the Compliance Manager as part of a team of compliance professionals. Ideally, and over time, you’ll be able to support, develop and manage members of the team to ensure the compliance monitoring programme is kept on track and targeted at the right areas of the organisation, providing oversight and check and challenge to the business and to the team to ensure compliance monitoring reports provide focused and tangible actions and recommendations. You’ll present these reviews, and other compliance work, as needed to all levels of the organisation.
You'll spend your time:
- Making sure our teams understand the compliance risks in their area through understanding their risk assessments and the compliance risk assessment and compliance monitoring framework
- Identifying ways to improve MLRO oversight of the Financial Crime Team
- Running regular Financial Crime assurance meetings to discuss risk and compliance issues with key stakeholders
- Regular assessment of management information and case files to ensure Financial Crime tasks are being performed to a high standard
- Conducting monitoring of key business areas, processes and controls and providing oversight of the work of other Compliance Monitoring Advisers
- Challenging our policies and procedures to ensure that we’re providing great customer outcomes and meeting regulatory requirements
- Deep diving into key regulatory areas and providing advice and challenge to the first line and at various governance forums
- Helping instil a proactive, positive culture towards regulation and legislation across the company, including through regulatory training and policies
- Building controls and exploring new ways to streamline, automate and enhance Monzo’s approach to compliance
You should apply if:
- Proven experience of working in a regulated financial services environment, including experience of compliance monitoring and policy writing
- You're self-motivated, highly organised and focussed on executing well
- You're able to work independently and with changing priorities; you’re comfortable with ambiguity
- You're passionate about building compliance processes and controls that meet regulatory and business requirements
- You have experience of managing a small team and / or cross functional projects
- You have a genuine interest in the role of compliance and recognise the value in compliance being a competitive advantage in a business like Monzo
- You’re excited about the future of banking and want to work with us to shape it
- You’re able to build strong, mutually respectful relationships with diverse teams
The application process consists of a short phone interview, followed by a practical written exercise with a follow up call, and a couple of on-site interviews at our office in London.