Monzo

Risk & Control Manager

Ireland

$60,000 – $80,000Compensation
Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level
Full TimeJob Type
UnknownVisa
Financial Services, Risk ManagementIndustries

Requirements

Candidates should possess a Bachelor’s degree in a relevant field, along with at least 5 years of experience in risk and control management, demonstrating a strong understanding of regulatory requirements and enterprise risk management frameworks. Experience in the banking or financial services industry is preferred, and familiarity with operational risk, conduct risk, and regulatory compliance is essential.

Responsibilities

As a Risk & Control Manager, you will lead change risk assessments, support the first line in developing and improving controls, ensure governance-related requirements are met, manage and report on the risk and control environment, manage regulatory and audit deadlines, help innovate governance and risk management processes, and foster positive relationships across the three lines of defense. You will also contribute to embedding robust regulatory, conduct, and operational risk practices and culture within Monzo.

Skills

Risk Assessment
Change Management
Control Self-Assessments
Governance
Regulatory Compliance
Risk Reporting
Incident Management
Risk Documentation
Risk Identification

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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