Monzo

Senior Legal Counsel - Employment, Incentives & Pensions

London, England, United Kingdom

£93,500 – £126,500Compensation
Senior (5 to 8 years)Experience Level
Full TimeJob Type
UnknownVisa
Financial Services, BankingIndustries

Position Overview

  • Location Type: London or Remote UK
  • Job Type: Full-time
  • Salary: £93,500 - £126,500 (based on experience level) + stock options + benefits
  • Company: Monzo

Description: Monzo is on a mission to make money work for everyone. They’ve grown from a prepaid card to offer a wide range of banking services in the UK, including personal and business accounts, joint accounts, accounts for young people, and credit cards. They’re focused on solving problems and changing lives through innovative banking solutions.

Responsibilities

  • Providing strategic employment legal advice and commercial solutions on EIP (Employment, Incentives, and Pensions) matters impacting the Monzo Group.
  • Working closely with the People, Reward, Risk & Compliance, and Finance teams.
  • Collaborating with senior Legal team stakeholders as the business grows.
  • Leading on a wide range of EIP related legal matters.
  • Acting as a trusted advisor to the People team, developing policies, procedures, guidance, and templates.
  • Providing EIP advisory legal support across the entire employee lifecycle (hiring, people processes, departures).
  • Managing any contentious EIP legal matters in conjunction with external counsel.
  • Working with Monzo’s Reward team on compensation arrangements and remuneration policies.

Requirements

  • (Details are missing from the provided job description)

Application Instructions

  • (Details are missing from the provided job description)

Company Information

  • Company: Monzo
  • Mission: To make money work for everyone.
  • Product Offering: Personal and business bank accounts, joint accounts, accounts for 16-17 year olds, a free kids account, and credit cards in the UK. They also offer saving, investing, and pension combining services.
  • Values: Focus on solving problems and changing lives.

Skills

Employment Law
Legal Advice
Employment Incentives
Pensions
Legal Policy Development
Legal Compliance
External Counsel Management
HR Collaboration
Remuneration Policies

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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