At a Glance
- Tasks: Advise on compliance for innovative Borrowing products and ensure customer needs are met.
- Company: Join Monzo, a forward-thinking bank revolutionising the banking experience.
- Benefits: Competitive salary, flexible working, and opportunities for professional growth.
- Other info: Collaborative culture with a focus on customer experience and compliance.
- Why this job: Be part of a mission to make money work for everyone in a dynamic environment.
- Qualifications: Experience in compliance, strong communication skills, and knowledge of FCA CONC & Consumer Duty rules.
The predicted salary is between 60000 - 75000 € per year.
This role requires strong communication and collaboration skills with a hands-on approach, to ensure that regulations are fully understood, our products are compliant by design, and our customers' needs are being met.
You know the Consumer Duty and CONC rules inside out. You have hands-on experience advising on Borrowing products ideally from working at a bank, insurer, or fintech. You thrive in fast-paced environments and are a great communicator and problem-solver, good at weighing risks and finding balanced solutions. You can work independently and juggle changing priorities while building strong relationships with different teams. You are passionate about compliance and excited about the future of banking!
We’re looking for a Compliance Advisory Manager to join our second line of defence (2LoD) who specialises in Retail and/or Business Borrowing/Lending. We need a pragmatic and collaborative compliance manager with good knowledge of FCA CONC & Consumer Duty rules and associated regulations and hands-on experience of providing compliance advice. You must also be passionate about Monzo's mission to make money work for everyone.
This role will have day-to-day responsibility for advising the Borrowing squad on compliance matters relating to our Borrowing products. This role reports directly to Monzo’s Head of Compliance Advisory and will be responsible for advising the Borrowing Collective - covering Flex, Loans, Overdrafts, Business lending & Homeownership.
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 2LoD as part of our Risk and Compliance Collective, in the Compliance Team.
- Being the first point of contact for compliance advice for our Retail and Business customer propositions.
- Providing clear and proactive compliance advice to the Borrowing squad, especially on CONC and Consumer Duty.
- Reviewing customer journeys and communications to help the business deliver good customer outcomes, and flagging any risks.
- Advising Marketing and Financial Promotion teams on financial promotion rules and guidance.
- Overseeing regulatory breaches and incidents in relation to Borrowing activity.
- Learning about the wider Borrowing products (Homeownership) with the aim to expand support to more areas in future.
Compliance Advisory Manager employer: Deepstreamtech
At Monzo, we pride ourselves on being an exceptional employer that fosters a dynamic and inclusive work culture. As a Compliance Advisory Manager, you'll thrive in a fast-paced environment where your expertise in compliance will directly impact our mission to revolutionise banking for everyone. With a strong emphasis on employee growth, collaboration, and a commitment to customer satisfaction, Monzo offers a unique opportunity to be part of a forward-thinking team dedicated to making a difference in the financial sector.
StudySmarter Expert Advice🤫
We think this is how you could land Compliance Advisory Manager
✨Tip Number 1
Network like a pro! Get out there and connect with folks in the compliance and banking sectors. Attend industry events, join relevant online forums, and don’t be shy about reaching out on LinkedIn. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Show off your expertise! When you get the chance to chat with potential employers, make sure to highlight your hands-on experience with Borrowing products and your knowledge of FCA CONC & Consumer Duty rules. Be ready to share specific examples of how you've tackled compliance challenges in the past.
✨Tip Number 3
Be proactive! If you see a job that fits your skills, don’t just wait for the application process to open. Reach out directly to the hiring manager or team members to express your interest. This shows initiative and can set you apart from other candidates.
✨Tip Number 4
Keep it real! During interviews, be honest about your experiences and how you handle fast-paced environments. Share your passion for compliance and how you envision contributing to a company like Monzo. Authenticity goes a long way in making a lasting impression!
We think you need these skills to ace Compliance Advisory Manager
Some tips for your application 🫡
Show Your Passion for Compliance:Let us see your enthusiasm for compliance in your application! Share specific examples of how you've navigated regulations and ensured products are compliant. We love candidates who are genuinely excited about making banking better for everyone.
Tailor Your Application:Make sure to customise your CV and cover letter to highlight your experience with FCA CONC and Consumer Duty rules. We want to know how your hands-on experience aligns with our needs, so don’t hold back on the details!
Demonstrate Your Communication Skills:Since this role is all about collaboration, showcase your communication skills in your written application. Use clear and concise language, and maybe even include a brief example of how you’ve effectively communicated compliance advice in the past.
Apply Through Our Website:We encourage you to apply directly through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re keen to be part of our unique approach to banking.
How to prepare for a job interview at Deepstreamtech
✨Know Your Regulations Inside Out
Make sure you’re well-versed in the FCA CONC and Consumer Duty rules. Brush up on how these regulations apply to Borrowing products, as you'll need to demonstrate your expertise during the interview. Being able to discuss specific examples of how you've applied these rules in past roles will really impress.
✨Showcase Your Hands-On Experience
Prepare to talk about your hands-on experience advising on Borrowing products. Whether it’s from a bank, insurer, or fintech, share specific scenarios where you’ve navigated compliance challenges. This will highlight your practical knowledge and ability to thrive in fast-paced environments.
✨Demonstrate Strong Communication Skills
As a Compliance Advisory Manager, communication is key. Practice articulating complex compliance concepts in simple terms. You might even want to role-play with a friend to ensure you can explain your ideas clearly and confidently, especially when discussing compliance advice for the Borrowing squad.
✨Build Relationships and Collaborate
Think about how you’ve built strong relationships with different teams in the past. Be ready to share examples of how you’ve collaborated effectively to achieve compliance goals. This will show that you’re not just a lone wolf but someone who thrives in a team-oriented environment.
