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Central Compliance Senior Manager

Monzo Bank


Posted over 30 days ago...

Join Monzo as a Central Compliance Senior Manager and shape the future of banking with a dynamic and innovative team


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Cardiff, London or Remote (UK)

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98% Remote- UK

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Expires at anytime

Organisation Summary

Monzo is revolutionizing banking for the better, aiming to make it transparent and inclusive. With a community-driven approach, Monzo listens, adapts, and collaborates with users to create a banking experience that works for everyone. At Monzo, problem-solving is prioritized over product selling, demonstrating a commitment to improving lives and making a positive societal impact.

Role Summary

  • Lead Monzo's Whistleblowing process, ensuring confidentiality and comprehensive case management.
  • Generate compliance reports for Monzo’s Executive and Board Risk Committees.
  • Provide expert advice on compliance matters related to employment, such as SMCR and market abuse.
  • Develop and review training related to conduct risk.
  • Manage the Conduct Risk and Compliance Frameworks and perform annual assessments.
  • Guide the Compliance team in policy creation and updates to stay aligned with regulatory requirements.
  • Conduct Horizon Scanning for regulatory changes and manage oversight of regulatory change.
  • Support and oversee management of Regulatory Breaches and Incidents.
  • Drive continuous improvement and innovation within the Compliance function.

Role Requirements

  • Proven experience in leading Whistleblowing investigations and compliance matters related to employment.
  • Background in compliance or audit within a regulated financial services environment.
  • Knowledge of the FCA Handbook, specifically SYSC and SMCR.
  • Understanding of the role of Risk and Compliance in financial services.
  • Self-motivated with the ability to execute tasks efficiently.
  • Strong relationship-building skills with diverse teams.
  • Passion for compliance as a business advantage and an interest in the future of banking.

Application Process Details

  • Phone call with a recruiter.
  • Initial 30-minute interview with a Compliance team member.
  • 45-minute technical interview with the hiring manager and a stakeholder.
  • 45-minute Monzo behavioural interview.

The process typically spans 3-4 weeks, with flexibility to accommodate candidate availability. Questions can be directed to [email removed - click apply for more details].

📍London, Cardiff or Remote (UK) | 💰£90,000 -  £100,000 (depending on experience) ➕ | Benefits | Hear from the team

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 role:

We’re looking for a Central Compliance Senior Manager to join our second line of defence (2LoD). You’ll lead on Monzo’s central compliance activities including Whistleblowing, SMCR and Horizon Scanning, working with the wider Compliance Advisory & Assurance teams to oversee Monzo’s management of conduct risk.  

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 operate a “three lines of defence” model of risk management at Monzo: you’ll be working in the 2LoD as part of our Risk and Compliance Collective, in the Compliance Team.

Role Responsibilities
You will be responsible for: 

  • Leading Monzo’s Whistleblowing (Speaking Up) process, including:
    • supporting the Compliance Director and Whistleblowing Champion in dealing with confidential Whistleblowing matters
    • liaising with Whistleblowers and subjects in a confidential manner
    • triaging and investigating cases to completion
    • maintaining the Whistleblowing Policy, process and training
    • compiling periodic reporting to the Board on the effectiveness of Monzo’s Whistleblowing process. 
  • Producing Compliance related reporting for Monzo’s Executive and Board Risk Committees, including compiling the monthly Compliance Report. 
  • Provide 2LoD oversight and SME advice on employee related Compliance matters, including SMCR and Conduct Rules, Market Abuse and Conflicts of Interest.
  • Provide Compliance input on the creation and review of Conduct Risk related training for Monzo. 
  • Review and oversee embedment of Monzo’s Conduct Risk Management and Compliance Frameworks, including Risk Appetite Metrics. 
  • Lead the annual Conduct Risk & Compliance Risk Assessments. 
  • Collaborate with the wider Compliance team in creating and updating compliance policies and procedures to reflect current regulatory requirements.
  • Regulatory Change Management oversight, including regular Horizon Scanning for regulatory changes relevant to Monzo.
  • 2LoD support and oversight on Regulatory Breach and Incident management.
  • Exploring new ways to streamline, automate and enhance Monzo’s approach to compliance.
  • Delivering continuous improvement to the function and helping to create a Compliance ‘centre of excellence’.

You should apply if:

  • You have experience of leading Whistleblowing investigations, maintaining associated processes and providing Compliance expertise on employee related compliance matters.
  • You have experience of working in the compliance or audit function within a regulated financial services environment, including experience of investigation.
  • You have working knowledge of the FCA Handbook (particularly SYSC and SMCR).
  • You have working knowledge of the role of the Risk and Compliance function
  • You're self-motivated, highly organised and focused on executing well
  • You're able to work independently and with changing priorities
  • You’re able to build strong, mutually respectful relationships with diverse teams
  • You have a genuine interest in the role of Compliance and recognise the value of 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

The interview process:

Our interview process involves 3 main stages: 

  • Phone call with recruiter
  • Initial interview with Compliance team member (30 min)
  • Technical interview with hiring manager & stakeholder (45 min)
  • Monzo behavioural interview (45 min)

Our average process takes around 3-4 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 [email removed - click apply for more details]

What’s in it for you:

💰 £90,000 -  £100,000 (depending on experience) ➕ plus stock options & benefits 

📍This role can be based in our London or Cardiff office, but we're open to distributed working within the UK (with ad hoc meetings in London/Cardiff).

⏰ 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 books, training courses and conferences

➕ And much more, see our full list of benefits here

If you prefer to work part-time, we'll make this happen whenever we can - whether this is to help you meet other commitments or strike a great work-life balance.

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 2023 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-NZ1 #LI-Remote


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