Senior Legal Counsel, Insurance London; Remote (UK) (London)

We’re on a mission to make money work for everyone. We’re waving goodbye to the complicated and confusing ways of traditional banking. 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.

We’re looking for a Senior Legal Counsel - Insurance to join our team at Monzo and help us build one of the best, most innovative banks in the world. This role will be the lead lawyer for our new, and growing, insurance distribution business. This role will report to the Head of Legal for Wealth Products, and is part of the Monzo Bank Legal team in the Legal & Board Governance Collective at Monzo.

In this role, you’ll work closely with the Insurance Squad to build and deliver Monzo’s insurance products, and support the team in making insurance accessible for everyone. You’ll work at all levels in the organisation and with a wide range of stakeholders from Product Managers and Designers, to Operations professionals and Software Engineers, and Risk and Compliance. You will be the ‘go to’ for all things legal and regulatory, and an important part of a team trying to change the insurance market for the better.

• Being a trusted adviser and partner to the Insurance team, helping them build beautiful products and create effective customer journeys in the Monzo app whilst meeting our regulatory requirements.
• Advising on the development of our insurance offering, including expanding the range of insurances we offer, and integrating services into the Monzo app.
• Supporting the Insurance team in managing third parties involved in our insurance offering (e.g. underwriters and third-party administrators).
• Equipping the team to deal with developments in the regulatory landscape for insurance, working closely with Compliance colleagues on all things regulatory.
• Working with Risk and Control closely to help the team identify and manage legal and regulatory risks relating to the insurance business.
• Prioritising thoughtfully to continuously operate with the highest impact.
• Developing and implementing processes and procedures to increase the efficiency and scalability of insurance legal advice across the Monzo Group.
• Delivering training, sharing insights from your work, and helping educate others on insurance.
• Managing relationships with our external legal counsel and ensuring we are optimising our legal spend on insurance matters.

You have experience advising on general insurance and/or life insurance, and a solid grounding in direct-to-customer distribution with a minimum of around 5 years relevant post qualification experience (or equivalent). You have outstanding technical skills and strong knowledge of regulatory and commercial issues in general insurance and insurance distribution, preferably having spent time both in private practice and in-house at a financial institution or fintech.

You are a team player and natural collaborator who is passionate about effecting change whilst being goals-focused and impact-driven. You are a strategic thinker, a strong communicator and a keen problem solver who knows how to assess risk and recommend solutions that balance business and risk perspectives. You are willing to jump in and handle a wide range of legal issues, even outside your core areas of expertise in a proactive, and resourceful way, and can sensibly assess when best to engage external counsel in a cost-effective way. You are comfortable operating at all levels of the organisation up to the Executive and liaising with a variety of internal and external stakeholders.

You welcome diverse perspectives, think rigorously and critically and aren’t afraid to challenge assumptions. You’ve an open and curious mind, you are passionate about the intersection of banking and technology, and what we are doing here at Monzo excites you!

Not ticking every box? That’s totally okay! Studies show that women and people of colour might hesitate to apply unless they meet every single requirement. At Monzo, we’re dedicated to creating an inclusive and welcoming team. If you’re passionate about this role and keen to learn and grow with us, we encourage you to apply - even if you don’t have everything that’s listed just yet.

Your compensation package: c.£100,000 + base salary (subject to experience) stock options. We can sponsor visas. 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, at times that suit you and your team. Learning budget of £1,000 a year for books, training courses and conferences.

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.

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.