Monzo Bank

Risk & Controls Manager, Product

Join Monzo Bank as they are looking for a Risk & Controls Manager, Product

📍London / UK Remote | 💰 £74,000 - £94,000 + share options & Benefits

About us: 

We’re here to make money work for everyone and we're doing things differently. For too long, banking has been obtuse, complex and opaque.

We want to change that and build a bank with everyone, for everyone. Our amazing community suggests features, test the app and give us constant feedback so we can build something everyone loves.

We're focused on solving problems, rather than selling financial products. We want to make the world a better place and change people's lives through Monzo.

Risk at Monzo

Like any other regulated bank, we need to make sure we are managing our risks and controls and are fully compliant with our regulation, but at Monzo we want to do so while continuing with our agile “test and learn” approach to launching products. We are looking for a Risk and Controls Manager (Level 30 on our framework) to help our Risk and Control Discipline partner with key product areas (Business Banking, Current Account, Subscriptions & Insurances) to make sure we successfully roll out and embed our risk management framework across the 1st line. 

The Role

As a Risk & Control Manager, you will use your passion for risk and control to support the Product space, helping them stay in control as they build & ship at pace. You will report to the Senior Risk & Control Manager for Core & Growth, and support them managing risk across a range of Products from Current Account, Business Banking & Subscriptions (including Insurance). Monzo is a fast-paced and ever changing environment, flexibility & openness to pivot and focus on other areas in Product as needed is a must. 

Teams across the first line in Monzo seek guidance from Risk & Control Managers on how to ensure they are compliant with regulations, Monzo’s Enterprise Risk Framework and rely on us to create a risk aware culture that distinguishes Monzo in both banking and technology. Within the Product space, you will lead the way in real-time risk management by ensuring key risk indicators are well-defined and understood, incidents are managed, MI and reporting packs are comprehensive, and risk assessments are completed in good time. 

Your day to day:

  • Using your risk management knowledge to support developing robust controls that meet our customer and business needs now and in the future
  • Leading risk assessments, including both general RCSA and especially change risk assessments for features & product launches
  • Helping to embed solid regulatory, conduct and operational risk practices and culture 
  • Ensuring Product areas comply with applicable policies and helping to review and change them where necessary
  • Ensuring governance related requirements are met including change approvals and documentation sign-off
  • Managing regulatory and audit deadlines and submissions
  • Managing and fostering positive relationships across the three lines of defence
  • Making recommendations to improve control effectiveness and/or identifying where new controls are required
  • Managing and reporting risks, controls, issues, incidents and the associated remediation actions
  • Innovating and improving the effectiveness of governance and risk management processes, to ensure they work for Monzo
  • Escalating, managing and reporting control issues with transparency and creating a positive risk culture 

You should apply if:

  • You have risk and control experience within the product division of a retail bank (business banking or personal banking), the insurance division of a retail bank, or in an insurance organisation.
  • You have an understanding of Consumer Duty and conduct risk and experience applying these regulations and principles to day to day work.
  • You have RCSA, Control Testing and Issue & Action management experience;
  • You’re excited about helping Monzo scale in a compliant, thoughtful and controlled way;
  • You’re resilient and comfortable working in a fast paced and ambiguous environment where the day to day job is constantly evolving and changing;
  • You are able to meet people where they are at, be the a bridge between internal teams and represent Monzo before auditors and regulators
  • You are a self-starter and autonomous, able to make prioritisation decisions 

The Interview Process:

Our interview process involves 3 main stages: 

  • Short call with a recruiter 
  • 30 minute video-call call with the hiring manager
  • 2 x 60 minute interviews conducted via GoogleMeet

Our average process takes around 2-3 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 business-hiring@monzo.com

Applications close on 18th September 2023

What’s in it for you:

💰£74,000 - £94,000 Dependant on Experience ➕ plus stock options & benefits 

📍This role can be based in our London office, but we're also happy for this to be a  distributed role working within the UK (with ad hoc meetings in London).

⏰ We offer flexible working hours and trust you to work enough hours to do your job well, at times that suit you and your team.

📚Learning budget of £1,000 a year for, training courses and conferences➕ And much more, see our full list of benefits here

Equal Opportunity Statement

We are actively creating an equitable environment for every Monzonaut to thrive.

Diversity and inclusion are a priority for us and we are making sure we have lots of support for all of our people to grow at Monzo. At Monzo, embracing diversity in all of its forms and fostering an inclusive environment for all people to do the best work of their lives with us. This is integral to our mission of making money work for everyone. You can read more in our blog, 2022 Diversity and Inclusion Report and 2022 Gender Pay Gap Report.

We’re an equal opportunity employer. All applicants will be considered for employment without attention to age, ethnicity, religion, sex, sexual orientation, gender identity, family or parental status, national origin, or veteran, neurodiversity or disability status.

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