FinCrime and Fraud Operations Manager at Monzo

Ireland

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Not SpecifiedCompensation

Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Fintech, BankingIndustries

Requirements

Previous experience achieving results through 3rd party/outsourcing management, with excitement for working in cross-functional teams with engineers and data scientists to empower third party vendors' success
Previous experience leading and managing Fraud and Fincrime operations in payments or banking
Experience partnering with 3rd party vendors, data scientists, and second line of defense (2LOD) to proactively mitigate and respond to existing and emerging fraud trends
Understanding of Fraud and money muling risks of various products and services

Responsibilities

Driving strategic oversight of outsourcing partners for Fraud and Fincrime Operations to ensure they operate effectively
Monitoring Fraud and Fincrime metrics and driving action delivery with product teams to address trends
Combining hands-on execution with strategic thinking to align cross-functional teams with Fraud vision and strategy
Consulting with product teams to minimize fraud opportunities in product design and appropriately control residual risk
Leading part of the EU leadership team for Fincrime and Fraud operations in strategy development and reporting
Helping build and oversee technology-centered solutions for Fraud and Fincrime mitigation strategies covering various fraud typologies using automated alerts
Supporting the Director of Fincrime, Fraud and Disputes operations at key forums/committees
Supporting and managing oversight of change implementation, including prioritization of initiatives
Driving customer education and awareness content in the EU around Fraud, ensuring effective warnings to prevent fraudulent and financial crime activity
Working closely with the second line of defence and Money Laundering Reporting Officer (MLRO) to complete assurance activity, identify and remediate actions
Collaborating across the company to remove roadblocks and solve complex challenges relating to Monzo's EU expansion
Supporting 3rd line of defence with auditing activities
Being an excellent partner to third party vendors, unblocking and empowering their teams for high delivery and performance
Handling operations escalations and overseeing outsourced partners to maintain highest performing standards in Fraud and Fincrime operations

Skills

Fraud Operations

Financial Crime

Partner Oversight

Metrics Monitoring

Cross-functional Collaboration

Data Science

Data Engineering

Strategic Thinking

Escalations Management

Outsourcing Management

Monzo

Digital-only banking platform for consumers

About Monzo

Monzo operates as a digital-only banking platform focused on providing a modern way for individuals to manage their finances. Its main product is a mobile app that allows users to track their income, spending, and savings easily. The app includes features that help users save money, such as automatically setting aside a portion of their paycheck or rounding up transactions to the nearest dollar. Monzo generates revenue through interest on deposits, fees for certain services, and interchange fees from card transactions, as well as offering overdrafts and personal loans. What sets Monzo apart from traditional banks is its real-time balance updates and instant spending notifications, which help users stay informed about their finances. The goal of Monzo is to provide a convenient, mobile-first banking experience that meets the needs of its growing customer base, which has surpassed 8 million users.

London, United KingdomHeadquarters

2015Year Founded

$1,856.7MTotal Funding

LATE_VCCompany Stage

Fintech, Financial ServicesIndustries

1,001-5,000Employees

Benefits

Competitive salary

Flexible working hours

Work from home

Stock options

32 days of paid vacation and public holidays per year

Health insurance

EAP

Learning budget

Home office stipend

Paid parental leave

Risks

Monzo breached UK banking regulations, risking reputational damage and fines.

Expansion into Europe poses regulatory challenges and potential licensing delays.

Reliance on digital platforms makes Monzo vulnerable to technological disruptions.

Differentiation

Monzo offers real-time spending updates and categorized transactions via a mobile app.

The 'Pots' feature allows users to set aside money for specific purposes.

Monzo Plus provides premium features like custom card designs and travel insurance.

Upsides

Monzo secured $400M in 2024, valuing the bank at $5 billion.

The partnership with SignLive enhances accessibility for Deaf customers.

Expansion into Europe in 2025 could significantly increase Monzo's customer base.

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