Monzo

Head of Procurement

Cardiff, Wales, United Kingdom

£89,300 – £120,000Compensation
Expert & Leadership (9+ years)Experience Level
Full TimeJob Type
UnknownVisa
Financial ServicesIndustries

Requirements

The Head of Procurement requires extensive experience in leading procurement functions within high-growth, technology-driven environments, ideally in fintech or similar fast-paced industries. Proven expertise in navigating complex procurement challenges associated with global expansion, including a deep understanding of regulatory requirements and international market dynamics is essential. A strong track record in procurement, commercial strategies, and relationship management is also needed, along with the ability to leverage data and insights to drive prioritization and demonstrate value.

Responsibilities

This role involves leading and defining the strategic direction of Monzo’s procurement function to support the business’s ambitious scale ambitions and global expansion, developing and managing executive-level relationships with key business partners, collaborating with senior management to achieve optimal commercial outcomes, overseeing the identification, onboarding, and management of critical third-party partners, establishing and nurturing long-term strategic partnerships with key suppliers, and proactively identifying opportunities to leverage technology to evolve procurement and supplier management as the company scales. The Head of Procurement will also collaborate with executive leadership across Legal, Compliance, Tech, Finance, Product, and Operations to drive growth initiatives and ensure procurement enables scalable, global business solutions.

Skills

Procurement Strategy
Supplier Negotiation
Sourcing
Vendor Management
International Market Expansion
Leadership
Team Management
Strategic Planning
Sustainability

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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