Compliance Manager, US

About us:

Monzo Group is a leading financial technology company, with over 9 million customers in the UK, committed to providing modern banking solutions. In the last few years, we’ve built a banking app that our customers love – with extremely high daily engagement, an industry leading net promoter score, and award-winning customer support. We’ve raised over $1 billion from Capital G, Google’s growth fund, Ribbit Capital, TenCent, YCombinator, Stripe, Coatue, Eric Schmidt, Mike Moritz, and others - most recently at a $5 billion valuation.

We’re just getting started in the US. We’re an agile full stack team operating like an early stage startup but with the financial, operational, and engineering platform muscle of a larger company. We’re focused on building an amazing US product, shipping and iterating quickly, and deepening our product market fit. We’re looking for highly driven, enterprising people to help us achieve our mission to make money work for everyone.

The role:

We’re looking for an experienced Compliance Manager to join our growing US Legal and Compliance team. This key role will help scale core compliance functions ranging from financial crime to consumer protection regulations.  The Compliance Manager will report to the US General Counsel and Head of Compliance, and collaborate daily with senior leadership, operations, marketing, product, and engineering to build a world-class compliance program.

You’ll play a key role working on: 

• Policies and Procedures: Update and draft compliance policies and procedures, including BSA/AML and financial services regulations related to deposit, debit, and credit programs like Reg E, UDAAP, and NACHA, and monitor the US regulatory landscape for changes relevant to Monzo. 
• Compliance Program: Collaborate with US operations to build a comprehensive Compliance Management System covering BSA/AML, OFAC testing, and dispute/complaint resolution.
• Marketing/Product Review: Collaborate with marketing and product teams to ensure customer-facing content meets regulatory standards, and assess risk profiles of new products and marketing initiatives.
• Audits and Risk: Prepare periodic risk assessments, manage compliance audits, and assist in due diligence requests.
• Data and technology driven: Take a data-driven approach to risk assessment and reporting, and assist in establishing effective technology solutions for testing, managing, monitoring and reporting of compliance standards.
• Employee Training: Oversee implementation of engaging compliance training programs to elevate our team's regulatory awareness.
• Compliance Leadership: Foster a culture of compliance across the US Monzo team and establish a strong relationship with financial institution partners.

We’d love to hear from you if…

• You have meaningful experience in compliance related to banking rules, regulations, and industry standards practices, including experience of working in the compliance or audit function within a regulated financial services environment.
• You’ve shown an ability to develop and manage comprehensive compliance programs that support business growth.
• You have deep subject matter expertise of financial regulations, such as BSA/AML, OFAC, Reg E, TILA, ECOA, NACHA rules, UDAAP,  as well as state-specific rules and regulations
• You’re knowledgeable about and/or have direct experience with financial services agencies (e.g., OCC, FDIC, CFPB, FinCEN, state agencies).
• You’re committed  to ongoing learning about fintech developments, regulatory trends, and compliance best practices.
• You have strong project management skills, including leadership and consensus building while managing against tight deadlines.
• You recognize the the value of world-class compliance as a competitive advantage for a business like Monzo
• You’re excited about the future of banking and want to work with us to shape it.

🌈 The application journey involves 4 main stages:

• Recruiter Call (30mins)
• Interview Loop: 3 x Interviews (currently being conducted via Google Meet) with members of our US and UK teams. We promise not to ask you any brain teasers or trick questions. 

⏳ We’ll only close this role once we have enough applications for the next stage. Please submit your application as soon as possible to make sure you don’t miss out. 

This process should take around 2-3 weeks - your schedule is really important to us, so we promise to be as flexible as possible! 

We have some guidelines on using Artificial Intelligence (AI) to ace an application and interview at Monzo. You can read them here.

You’ll hear from us throughout the application process, but if you’ve got any questions, please reach out to [email removed - click apply for more details]. You can also use this email address to let us know if there’s anything we can do to make the process easier for you because of disability, neurodiversity or anything else.

🙌 What’s in it for you

We offer a competitive salary and a pretty great benefits package (if we do say so ourselves!)

💰 $140,000 - $170,000 + Equity
📍 This role can be based out of our San Francisco or New York office
📚 Learning budget of $1,500 a year for books, training courses and conferences
💰 Generous 401k with 4% employer match