Monzo Bank

Head of Third Party Risk

Join Monzo Bank as they are looking for a Head of Third Party Risk

📍London/Remote UK 

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.

About the team: 

Monzo is increasingly working with 3rd parties to support its growing aspirations. You’ll be responsible for leading a team that identifies, highlights and manages risks that emerge with all of our 3rd parties ranging from technology vendors to strategic partners. You will partner closely with our collectives to effectively onboard, manage and offboard their third parties across the full lifecycle. We are a technology led organisation so you will be focused on Operational, Information Security, Business Continuity and Resilience risks. We have the foundations in place, and the right candidate will help take this effort to the next level.

Your day-to-day:

Day to day activities will include working collaboratively with business teams to mature our existing frameworks and policies and ensuring that Monzo has an accurate view of risk across its third party landscape. You’ll lead remediation plans and report information to relevant executive stakeholders and committees.  In addition you’ll support a number of projects ranging from new products, audit findings and business change programmes.

What you’ll be working on:

  • Develop and implement a comprehensive risk management strategy for third-party relationships.
  • Build and maintain strong management information, governance, policies and procedures. Regularly report to senior management on the status of third-party relationships and risk mitigation plans.
  • Collaborate with key stakeholders, including Legal, Compliance, Procurement, 1LOD and Information Security and align risk management practices with business goals.
  • Oversee and improve the process for onboarding new vendors or new projects assessing potential risks associated with each vendor and evaluate their compliance with industry standards and regulatory requirements.
  • Ensure that Monzo third party relationships and projects are compliant with law, regulation and industry standards
  • Establish performance metrics and key performance indicators to monitor effectiveness of third party risk management activities reporting at Collective and bank wide. 
  • Deliver training and workshops to those involved in managing third-party relationships, continuously improving their understanding of risk management principles and best practices.
  • Build and embed a culture of awareness and continuous improvement within the third-party risk management function.

You should apply if you have: 

  • Experience of Third Party Operational/Technology Risk Management
  • Supplier Management lifecycle and associated reporting 
  • Knowledge of Third Party management systems e.g. OneTrust
  • Excellent working knowledge of regulations governing Third Party management in banking and financial services such as those produced by the PRA, EBA and FCA (SYSC) and evidence of implementation
  • Knowledge of GDPR, associated risk management and mitigation
  • Experience of working with Cloud Technology/Vendors

The interview process:

Our interview process involves 3 main stages: 

  • Short call with a Monzo recruiter
  • Video-call with Hiring Manager (30 mins)
  • 2/3 x Competency Based Interviews (45 mins each) 

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 hiring@monzo.com

What’s in it for you:

✅ We can sponsor visas 

📍This role can be based in our London office, but we're open to distributed 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.

#LI-Remote #LI-TK1