Head of Risk, Monzo
$172-220k
+ Equity
Digital-only bank platform and marketplace
Open for applications
Digital-only bank platform and marketplace
1001+ employees
Open for applications
$172-220k
+ Equity
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- You’ve built and scaled successful fincrime and fraud programs for debit and credit products
- You have a strong understanding of financial crime regulations and compliance requirements within consumer banking
- You're familiar with relevant technologies and tools for fraud prevention
- You're a problem solver, and can simplify complex fincrime problems for technical and non-technical audiences
- You're analytical and make data driven decisions
- You’re an action-oriented problem solver, and have built scalable processes
- You've built strong relationships and collaborate with partners to reach alignment and resolve issues
- You can drive clarity amidst ambiguity and focus on the things that matter
- You’re a team player and can roll up your sleeves to get things done
What the job involves
- We’re looking for an experienced leader to scale our fraud and risk program for the US
- This pivotal role will ensure that our strategies, systems and processes effectively detect, prevent, and respond to financial crimes and fraudulent activities while supporting our growth objectives
- You will work closely with senior leadership, legal/compliance teams, and Product/Eng partners to build robust, proactive measures against financial crime risks
- Strategy Development: Building and implementing anti-financial crime, fraud prevention, and risk management strategies that align with regulatory requirements, industry best practices, and Monzo’s objectives
- Policy and Procedure Oversight: Creating, updating, and enforcing policies and procedures related to financial crime and fraud prevention. Ensuring compliance with relevant regulations, including BSA/AML and KYC requirements
- Data Analysis: Collaborating with Data Science to build and refine algorithms and models to improve customer and transaction decisioning
- Technology Integration: Collaborating with Product / Eng teams to implement solutions for detecting and preventing financial crimes as Monzo scales
- Vendor Management: Own supplier relations, including evaluation, implementation and performance of 3rd party tools and technology
- Team Leadership: Building and leading a high-performing fraud operations team. Fostering a culture of continuous improvement, professional development, and collaboration
- Training and Compliance: Developing and delivering training programs to educate employees on financial crime risks, fraud prevention practices, and compliance requirements
Application process
- Recruiter Call (30mins)
- Initial Call with Hiring Manager (30 mins)
- Take Home Task
- Interview Loop: 2 - 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!
Our take
Monzo is a challenger bank that fully operates online and offers a full range of current, savings, business accounts, and more. The speed of the challenger banks to provide a great experience has been impressive, and the number of competitors appearing has proven the consumer desire for innovation.
Monzo remains one of the popular online banks, with more than 6 million customer active users. The company faces competition as more traditional banks, such as Goldman Sachs and JP Morgan, have launched their own digital banks. However, the new technologies that the company is built on enable it to expand quickly (with fewer issues) than the incumbent players' offerings.
With an increasing amount of people switching banks, the company's ever-expanding suite of banking and financial services (such as its buy-now-pay-later offering) has resulted in Monzo receiving the second-highest net switching gains among digital challenger banks (just behind Starling).
After setting U.S. expansion plans aside in 2020, the company launched in the U.S. market in early 2022, partnering with Sutton Bank to provide its U.S. accounts. After several years focused on narrowing its losses, Monzo hit profitability in the first two months of 2023. In the same year, 2 million new customers joined, tallying its customer base at 9 million in 2024.
Kirsty
Company Specialist
Insights
Many candidates hear
back within 2 weeks
42% female employees
19% employee growth in 12 months
Company
Funding (last 2 of 18 rounds)
May 2024
$190m
LATE VC
Mar 2024
$443.8m
LATE VC
Total funding: $1.9bn
Company benefits
- Yearly Salary Review + Proactive pay increases to reflect growing responsibilities + Share options
- Flexible working hours
- Work From Home Opportunities + we'll pay for any equipment you need to do your job
- 24 days holiday a year, plus bank holidays
- Paid sick leave for both physical & mental health + Health insurance via AXA or Vitality + Additional health insurance through Medicash
- Employee Assistance Programme
- Learning budget of £1,000 a year
- Aviva Pension Scheme + 4% Employer Contribution
- Paid maternity, paternity, adoption or shared parental leave (after 13 weeks of employment)
- 52 weeks of primary caregiver leave (6 months at 100% pay, 13 weeks at Statutory Maternity Pay, 13 weeks unpaid)
- 3 months of secondary caregiver leave at 100% pay
- Unum Life Insurance
- Access to fertility and family-forming health benefits via Fertifa
- Abellio Season Travel Tickets + Cycle-to-Work Scheme
Company values
- Be hard on problems, not people 🙌 We create supportive communities to help people thrive.
- Make a difference 🚀 We solve real problems, working on things that have the biggest impact for our customers and each other.
- Help everyone belong 🤗 We’re building a bank for everyone. We embrace differences and make sure everyone feels welcome.
- Think customer first; grow Monzo safely 🥕 We always do what's best for customers. It's the right thing to do and the safest way to grow.
- Default to transparency 🎤 We’re open with each other and customers unless we have good reason not to be.
- Think big, start small, own it 🌲 We’re ambitious and shoot for the moon, working iteratively to get the best results.
Company HQ
City of London, London, UK
Articles
Leadership
Jonas Templestein
(CTO)Founder of HipDial. Former Software Engineer at Starling Bank.
People progressing
Joined in the Customer Operations team. Moved to be a Financial Crime Analyst after 5 months. Then moved again to be a Business Analyst after 2.5 years. Currently working as a Senior Product Manager.
Salary benchmarks
We don't have enough data yet to provide salary benchmarks for this role.
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