[Remote] Principal Legal Counsel, Pensions and Investments (12 Month FTC) at Monzo

Cardiff, Wales, United Kingdom

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Not SpecifiedCompensation

Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Fintech, Banking, Financial ServicesIndustries

Requirements

Experience advising on personal pensions and/or retail investments platforms, with a solid grounding in direct-to-customer retail investments and around 5 years + relevant post qualification experience
Outstanding technical skills and an understanding of regulatory and tax issues for pensions and investments
Experience in private practice and preferably time in house at a financial institution or fintech
Team player and natural collaborator who is passionate about effecting change whilst being goals-focused and impact-driven
Strategic thinker, strong communicator, and keen problem solver who knows how to assess risk and recommend solutions that balance business and risk perspectives
Willing to jump in and handle a wide range of tasks

Responsibilities

Be a trusted adviser and partner to the Pensions & Investments teams, helping them build beautiful products and create effective customer-journeys in the Monzo app whilst meeting legal and regulatory requirements
Advise on the development of pensions and investments offering, including expanding the range of assets available and offering draw-down
Support the Pensions & Investments teams in managing third parties involved in the provision of pensions and investments services (including pension scheme trustees and administrators, and custodians)
Equip the team to deal with developments in the regulatory landscape for pensions and investments, and work closely with Compliance colleagues on all things regulatory
Work with Risk and Control closely to help the team identify and manage legal and regulatory risks relating to the pensions and investments business
Prioritise thoughtfully across pensions and investments activities to continuously operate with the highest impact
Develop and implement processes and procedures to increase the efficiency and scalability of pensions and investments legal advice across the Monzo Group
Deliver training, share insights from your work, and help educate others on pensions and investments
Manage relationships with external legal counsel and work to ensure optimising legal spend on pensions and investments matters, and obtaining the best value

Skills

Legal Advisory

Pensions Regulation

Investments Law

Regulatory Compliance

Financial Services

Stocks & Shares ISAs

GIAs

Wealth Management

Product Development

Stakeholder 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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