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- Tasks: Lead risk management and control assessments to keep Monzo safe and compliant.
- 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 remote work options.
- Why this job: Be part of a dynamic team that values innovation and customer-centric solutions.
- Qualifications: Experience in risk assessments, data handling, and strong stakeholder relationships required.
- Other info: Diversity and inclusion are core values; we welcome applicants from all backgrounds.
The predicted salary is between 70000 - 90000 £ per year.
Senior Risk & Control Manager – Fraud, Financial Crime & Operations
Join to apply for the Senior Risk & Control Manager – Fraud, Financial Crime & Operations role at Monzo Bank
Senior Risk & Control Manager – Fraud, Financial Crime & Operations
Join to apply for the Senior Risk & Control Manager – Fraud, Financial Crime & Operations 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/UK Remote | £85,000 – £115,000 + Benefits | Hear from the team
About Our Team
Fraud and Financial Crime is a critical function at Monzo, to keep our customers and the bank safe. Our Operations teams support customers across a range of needs including but not limited to fraud and financial crime. Both these functions sit in our ‘Chief Operating Office’ (COO).
Senior Risk & Control Managers that support the COO are responsible for leading risk business partnering for one or more areas in the COO to foster a risk-based decision making culture, provide guidance on regulatory compliance in conjunction with Monzo’s second line of defence and advise on correct governance paths. They also make sure area key risk indicators are well-defined and understood, monthly MI and reporting packs are created and risk and control assessments are completed appropriately.
You’ll play a key role by…
- Identifying risks on a real-time basis, and ensuring they are appropriately controlled, measured and monitored
- Proactively making sure incidents are managed, correctly rated and reported appropriately
- Holding risk and control meetings including MI and reporting packs creation, facilitating meetings and ensuring fast-paced risk decisioning
- Making sure RCSA and change-based risk & control assessments are created and recorded with high accuracy
- Making recommendations to improve control effectiveness and/or identify where new controls are required
- Supporting teams in developing new processes, controls and features by embedding good governance, regulatory and risk practices
- Embedding awareness of all of the governance related requirements, regulatory reporting deadlines, audit deadlines and policy update deadlines
- Monitoring completion of risk-mitigating actions to address issue root cases
- Facilitating compliance with policies and helping to change them where necessary
- Acting as a key stakeholder to foster positive relationships across the three lines of defence
- Where required, troubleshooting to help resolve incidents, issues and/or regulatory requests quickly and within the correct boundaries
We’d love to hear from you if…
- You can demonstrate experience in Risk & Control Assessments, Control Development, Assurance, Incident Management and Issue & Action Management
- You have experience with Risk Reporting, Governance Meetings and Risk Appetite Metrics
- You’re comfortable working with data and seek automation and technology adoption as default
- You’re resilient and comfortable working in a fast paced environment where the day to day job is constantly evolving and changing
- You’re able to create trusting relationships with key stakeholders
- You’re hands-on and great at delivery and execution including a willingness to get into the detail directly
- You’re able to ask incisive questions to identify gaps and act on them quickly
- You’re experienced with managing multiple deadlines through to completion
- You have excellent attention to detail
- You’re excited about helping Monzo scale in a compliant, thoughtful and controlled way
What’s In It For You…
£85,000 – £115,000 share options.
This role can be based in our London office, but we\’re open to 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.
We will set you up to work from home; all employees are given Macbooks and for fully remote workers we will provide extra support for your work-from-home setup.
Plus lots more! Read our full list of benefits.
The application journey has 3 key steps
- Call with a Monzo Recruiter
- Call with the Hiring Manager
- Full Loop Interviews (3 x GoogleMeet sessions with relevant stakeholders)
This process should take around 2-3 weeks – your schedule is really important to us, so we promise to be as flexible as possible!
We have some guidelines on using Artificial Intelligence (AI) to ace an application and interview at Monzo. You can read them here.
You’ll hear from us throughout the application process, but if you’ve got any questions, please reach out to business-hiring@monzo.com
You can also use this email address to let us know if there’s anything we can do to make the process easier for you because of disability, neurodiversity or anything else.
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.
#CM-1
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
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Seniority level
Mid-Senior level
Employment type
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Employment type
Full-time
Job function
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Job function
Finance and Sales
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Industries
Banking
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Senior Risk & Control Manager - Fraud, Financial Crime & Operations employer: Monzo Bank
Contact Detail:
Monzo Bank Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Risk & Control Manager - Fraud, Financial Crime & Operations
✨Tip Number 1
Familiarise yourself with Monzo's mission and values. Understanding their approach to banking and customer service will help you align your answers during interviews, showcasing how your experience in risk management can contribute to their goals.
✨Tip Number 2
Network with current or former employees of Monzo, especially those in risk and compliance roles. They can provide valuable insights into the company culture and expectations, which can be beneficial for your interviews.
✨Tip Number 3
Prepare specific examples from your past experiences that demonstrate your skills in risk assessment and control development. Be ready to discuss how you've successfully managed incidents and implemented effective controls in previous roles.
✨Tip Number 4
Stay updated on the latest trends and regulations in fraud and financial crime. Being knowledgeable about current challenges in the industry will not only impress your interviewers but also show your commitment to staying ahead in the field.
We think you need these skills to ace Senior Risk & Control Manager - Fraud, Financial Crime & Operations
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in Risk & Control Assessments, Control Development, and Incident Management. Use specific examples that demonstrate your ability to manage risks effectively.
Craft a Compelling Cover Letter: In your cover letter, express your passion for Monzo's mission and how your skills align with the role. Mention your experience with risk reporting and governance meetings, and how you can contribute to a risk-based decision-making culture.
Highlight Key Achievements: When detailing your work history, focus on key achievements that showcase your ability to identify and mitigate risks. Use metrics where possible to quantify your impact, such as improvements in control effectiveness or successful incident management.
Prepare for Interviews: Research common interview questions related to risk management and be ready to discuss your approach to problem-solving in fast-paced environments. Prepare examples that illustrate your ability to build trusting relationships with stakeholders.
How to prepare for a job interview at Monzo Bank
✨Understand the Role Thoroughly
Before your interview, make sure you have a solid grasp of the responsibilities and expectations for the Senior Risk & Control Manager position. Familiarise yourself with Monzo's approach to fraud and financial crime, as well as their operational strategies.
✨Prepare Real-World Examples
Be ready to discuss specific instances from your past experience where you've successfully managed risks or implemented controls. Use the STAR method (Situation, Task, Action, Result) to structure your responses clearly.
✨Showcase Your Analytical Skills
Since the role involves working with data and risk reporting, be prepared to demonstrate your analytical skills. Discuss any tools or methodologies you've used in the past to assess risks and how you’ve leveraged technology for automation.
✨Build Rapport with Interviewers
Establishing a good relationship with your interviewers is crucial. Be personable and engage with them by asking insightful questions about their experiences at Monzo and how they view the future of risk management within the bank.