Monzo

Senior Legal Counsel, Insurance

London, England, United Kingdom

$150,000 – $200,000Compensation
Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level
InternshipJob Type
UnknownVisa
Legal Services, InsuranceIndustries

Position Overview

  • Location Type: London/Cardiff/UK Remote
  • Job Type: Full-time
  • Salary: Circa £100,000 + Benefits

Monzo is on a mission to make money work for everyone. They’ve evolved 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 also provide savings, investment, and pension consolidation options. Monzo emphasizes solving problems and changing lives through innovative financial solutions, combined with award-winning customer service and financial education.

About Monzo

Monzo is a disruptive banking company dedicated to simplifying and improving the financial lives of its customers. They are known for their innovative approach, customer-centric values, and commitment to transparency.

Role: Senior Legal Counsel - Insurance

Monzo is seeking a Senior Legal Counsel - Insurance to join their team and support the development of their growing insurance distribution business. This role will report to the Head of Legal for Wealth Products and be part of the Monzo Bank Legal team.

Key Responsibilities

  • Be a trusted advisor and partner to the Insurance team.
  • Help build beautiful products and create accessible insurance solutions.
  • Work closely with Product Managers, Designers, Operations professionals, and Software Engineers.
  • Serve as the “go-to” for all legal and regulatory matters related to insurance.
  • Support the team in making insurance accessible for everyone.

Requirements

  • (Details are missing from the provided text)

Application Instructions

  • (Details are missing from the provided text)

Company Information

Monzo is a rapidly growing fintech company with a strong culture of innovation and customer focus. They are committed to building a diverse and inclusive workplace. (Further details about company culture and values are missing).

Skills

Insurance Law
Legal Advice
Regulatory Guidance
Product Development
Contract Review
Risk 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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