[Remote] Third Party Risk Manager at Monzo

Cardiff, Wales, United Kingdom

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£85,000 – £105,000Compensation

Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Fintech, BankingIndustries

Requirements

Experienced in working within highly regulated environments and able to navigate complexity with confidence
Led or contributed to sustainable improvements in risk processes, making lasting, practical impact
Skilled at delivering third-party risk management in a collaborative, matrix environment
Strong understanding of outsourcing regulations, ideally from the banking or financial services sector
Communicate with clarity, tact, and pragmatism, building trust and influence at every level
Keen eye for detail, and enjoy developing, reviewing and implementing effective policies and procedures
Know how to build strategies that manage third-party risk effectively throughout their lifecycle
Confident interpreting risk regulations and standards across different jurisdictions
Unique Risk and Control expertise gained in global organisations

Responsibilities

Bring Risk and Control expertise to advance Monzo’s strategic goals and support growth
Proactively deliver impactful and effective Third Party Risk Management
Design, implement and manage operational processes to enhance Third Party Risk management
Play a pivotal role in developing sustainable ways to meet regulatory requirements in a high-growth, technology-driven environment
Strive to achieve high standards and instil established best practices in risk management
Take a collaborative and partnered approach to achieving business objectives with internal teams and external suppliers
Be both tactical and strategic when developing and delivering Third Party risk management solutions

Skills

Third Party Risk Management

Supplier Risk

Risk Controls

Governance

Regulatory Compliance

Stakeholder Management

Process Improvement

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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