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- Tasks: Lead compliance assurance reviews and support teams in understanding conduct risks.
- Company: Join Monzo Bank, a revolutionary fintech on a mission to simplify banking for everyone.
- Benefits: Enjoy flexible working hours, a £1,000 learning budget, and share options.
- Why this job: Be part of a dynamic team that values innovation and customer experience in banking.
- Qualifications: Experience in compliance monitoring or audit within financial services is essential.
- Other info: Remote work options available; diversity and inclusion are core values at Monzo.
The predicted salary is between 51600 - 67500 £ per year.
Join to apply for the Compliance Assurance Manager role at Monzo Bank Join to apply for the Compliance Assurance Manager role at Monzo Bank We’re on a mission to make money work for everyone. We’re waving goodbye to the complicated and confusing ways of traditional banking. After starting as a prepaid card, our product offering has grown a lot in the last 10 years in the UK. As well as personal and business bank accounts, we offer joint accounts, accounts for 16-17 year olds, a free kids account and credit cards in the UK, with more exciting things to come beyond. Our UK customers can also save, invest and combine their pensions with us. With our hot coral cards and get-paid-early feature, combined with financial education on social media and our award winning customer service, we have a long history of creating magical moments for our customers! We’re not about selling products – we want to solve problems and change lives through Monzo ️ Hear from our UK team about what it\’s like working at Monzo London, Cardiff or Remote | £60,000 – £75,000 (depending on experience) + Benefits | Hear from the team Our Compliance Assurance team We’re looking for a Compliance Assurance Manager to join our second line of defence (2LoD). You’ll help to provide oversight and check and challenge to the first line of defence (1LoD), providing assurance over how Monzo manages conduct risk. At Monzo we do things differently: we truly care about providing a phenomenal experience for our customers. We believe there’s a better way to do banking, and we want to be the best possible (fully compliant!) bank without getting stuck in the old ways of doing things. We operate a “three lines of defence” model of risk management at Monzo: you’ll be working in the 2LoD as part of our Risk and Compliance Collective, in the Compliance Assurance Team. You’ll play a key role by… Supporting teams at Monzo to understand the compliance and conduct risks in their area through timely delivery of the Compliance Assurance Plan. Conducting end to end assurance reviews of key regulations, processes and controls with high attention to detail. You’ll provide stakeholders with clear feedback to further strengthen Monzo’s control environment. You take a pragmatic approach to really focus on the issues that matter. Challenging policies and procedures to ensure that Monzo’s providing good customer outcomes and meeting regulatory requirements. Providing subject matter expertise to strengthen the Risk and Compliance function and to support Monzo in growing safely. Independently delivering clearly written, impactful reports and compliance assurance management information in a range of formats to audiences across the business. Both of these are delivered with high attention to detail. Tracking and validating closures of actions stemming from compliance assurance reviews. Exploring new ways to streamline, automate and enhance Monzo’s approach to compliance assurance. Providing oversight of/support to the work of other Compliance Assurance Managers/Analysts. Delivering other Compliance team activities including the compliance risk assessment, maintenance of the Compliance Assurance methodology and annual planning. Inspiring a proactive, positive culture towards regulation and legislation across the bank. Delivering continuous improvement to the function and helping to create a ‘centre of excellence’. We’d love to hear from you if… You have experience working in a compliance monitoring, compliance assurance or audit role within a regulated financial services environment. You have practical experience of delivering end to end assurance reviews on a variety of products and regulatory topics. You\’re self-motivated, highly organised and focused on executing well. You’re able to work independently at pace and with changing priorities. You can balance timely delivery of an assurance review alongside other tasks. You have a strong knowledge of Monzo’s conduct risks and the FCA Handbook (particularly BCOBS, CONC, SYSC, ICOB and DISP). You also have a great knowledge of other important rules and guidance such as the Consumer Duty and Vulnerable Customers guidance. You have the ability to analyse large amounts of information to draw clear, conclusions. Experience in a Fintech, data driven or highly automated environment would be a plus. You have in depth knowledge of the role of the Risk and Compliance function. You have great stakeholder management skills at various levels of seniority. You’re able to build strong, mutually respectful relationships with diverse teams and deliver findings and issues with kindness. You are a compliance assurance SME and recognise the value of compliance being a competitive advantage in a business like Monzo. You’re excited about the future of banking and want to work with us to shape it safely. What’s In It For You £60,000 – £75,000 share options. This role can be based in our London or Cardiff offices, or be distributed working within the UK (with ad hoc meetings in London) We offer flexible working hours and trust you to work enough hours to do your job well, and at times that suit you and your team. £1,000 learning budget each year to use on books, training courses and conferences. Plus lots more! Read our full list of benefits. The Application Journey Has 4 Key Steps Recruiter call – 30 mins Initial video interview with hiring manager – 30 mins Technical video interview with hiring manager & stakeholder – 60 mins Behavioural video interview with two stakeholders – 60 mins Our average process takes around 3-4 weeks but we will always work around your availability. You will have the chance to speak to our recruitment team at various points during your process but if you do have any specific questions ahead of this please contact us on business-hiring@monzo.com We’ll only close this role once we have enough applications for the next stage. Please submit your application as soon as possible to make sure you don’t miss out. Equal opportunities for everyone Diversity and inclusion are a priority for us and we’re making sure we have lots of support for all of our people to grow at Monzo. At Monzo, we’re embracing diversity by fostering an inclusive environment for all people to do the best work of their lives with us. This is integral to our mission of making money work for everyone. You can read more in our blog, 2024 Diversity and Inclusion Report and 2024 Gender Pay Gap Report. We’re an equal opportunity employer. All applicants will be considered for employment without attention to age, ethnicity, religion, sex, sexual orientation, gender identity, family or parental status, national origin, or veteran, neurodiversity or disability status. If you have a preferred name, please use it to apply. We don\’t need full or birth names at application stage Seniority level Seniority level Mid-Senior level Employment type Employment type Full-time Job function Job function Legal Industries Banking Referrals increase your chances of interviewing at Monzo Bank by 2x Sign in to set job alerts for “Compliance Manager” roles. 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Contact Detail:
Monzo Bank Recruiting Team
business-hiring@monzo.com
StudySmarter Expert Advice 🤫
We think this is how you could land Compliance Assurance Manager
✨Tip Number 1
Familiarise yourself with Monzo's unique approach to banking and their mission. Understanding their values and how they differentiate themselves from traditional banks will help you align your answers during interviews and demonstrate your enthusiasm for the role.
✨Tip Number 2
Brush up on your knowledge of the FCA Handbook, especially the sections relevant to conduct risk and compliance. Being able to discuss specific regulations and how they apply to Monzo will show that you're not only knowledgeable but also genuinely interested in the compliance landscape.
✨Tip Number 3
Prepare examples of how you've successfully managed compliance assurance or monitoring in previous roles. Use the STAR method (Situation, Task, Action, Result) to structure your responses, as this will help you convey your experience clearly and effectively during interviews.
✨Tip Number 4
Network with current or former Monzo employees on platforms like LinkedIn. Engaging with them can provide valuable insights into the company culture and expectations, which can be beneficial when tailoring your approach for the interviews.
We think you need these skills to ace Compliance Assurance Manager
Some tips for your application 🫡
Understand the Role: Before applying, make sure you thoroughly understand the Compliance Assurance Manager role at Monzo. Familiarise yourself with their mission and values, as well as the specific responsibilities outlined in the job description.
Tailor Your CV: Customise your CV to highlight relevant experience in compliance monitoring, assurance, or audit roles. Emphasise your knowledge of conduct risks and regulatory frameworks, particularly those mentioned in the job description.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for Monzo's mission and how your skills align with the role. Use specific examples from your past experiences to demonstrate your ability to deliver end-to-end assurance reviews and manage stakeholder relationships.
Proofread and Edit: Before submitting your application, carefully proofread your CV and cover letter. Check for any spelling or grammatical errors, and ensure that your documents are clear and concise. A polished application reflects your attention to detail, which is crucial for this role.
How to prepare for a job interview at Monzo Bank
✨Understand Monzo's Mission
Before your interview, make sure you grasp Monzo's mission to simplify banking for everyone. Familiarise yourself with their products and services, as well as their approach to customer service. This will help you align your answers with their values during the interview.
✨Showcase Your Compliance Knowledge
Be prepared to discuss your experience with compliance monitoring and assurance in detail. Highlight specific examples of how you've conducted end-to-end assurance reviews and your understanding of relevant regulations like BCOBS and CONC. This will demonstrate your expertise and fit for the role.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving skills and ability to handle compliance challenges. Think of situations where you've had to challenge policies or improve processes, and be ready to explain your thought process and outcomes.
✨Emphasise Stakeholder Management Skills
Since the role involves working with various teams, highlight your stakeholder management skills. Share examples of how you've built strong relationships and communicated findings effectively, ensuring that your approach aligns with Monzo's culture of kindness and collaboration.
