Full-Time

Third Party Risk Manager

Confirmed live in the last 24 hours

Monzo

Monzo

1,001-5,000 employees

Digital-only banking platform for consumers

Fintech
Financial Services

Senior, Expert

London, UK

Hybrid role based in London office with potential for distributed working within the UK.

Category
Risk Management
Finance & Banking
Requirements
  • You have experience in delivering third party risk management in a matrix environment
  • You have a proven ability to implement sustainable uplift in risk processes
  • You have a comprehensive understanding of outsourcing regulations, ideally obtained in banking or financial services
  • You are proficient in developing strategies to ensure effective risk management of third-parties throughout their lifecycle
  • You have a deep knowledge of, and ability to interpret risk regulations and standards across different jurisdictions
  • You are well versed in Cyber, Information Security and Data risk management
  • You have a good working knowledge of Third Party risk management tools/systems
  • You are delivery focussed with a genuine appetite to develop sustainable solutions in an innovative way
Responsibilities
  • Bringing your unique Risk and Control expertise gained in global organisations, to advance Monzo’s strategic goals and support our growth
  • Proactively delivering impactful and effective Third Party Risk Management
  • Designing, implementing and managing operational processes to enhance how Monzo manages Third Party Risk
  • Having a pivotal role in developing sustainable ways to meet our regulatory requirements in a high-growth, technology-driven environment
  • Striving to achieve high standards and instil established best practices in risk management
  • Taking a collaborative and partnered approach to achieving business objectives with internal teams and external suppliers
  • Having the ability to be both tactical and strategic when developing and delivering Third Party risk management solutions at 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.

Company Stage

N/A

Total Funding

$1.9B

Headquarters

London, United Kingdom

Founded

2015

Growth & Insights
Headcount

6 month growth

8%

1 year growth

25%

2 year growth

58%
Simplify Jobs

Simplify's Take

What believers are saying

  • Monzo's rapid customer growth, with over 8 million users, indicates strong market demand and potential for further expansion.
  • The launch of fee-free accounts for children under 16 could attract a new generation of loyal customers and foster long-term brand loyalty.
  • Innovative security features enhance customer trust and could reduce fraud-related losses, improving overall customer satisfaction.

What critics are saying

  • The competitive fintech landscape requires continuous innovation to maintain differentiation and avoid losing market share to other digital banks.
  • Regulatory changes affecting fees and interchange rates could impact Monzo's revenue model, necessitating adjustments to maintain profitability.

What makes Monzo unique

  • Monzo's digital-only banking platform offers a user-friendly mobile app with real-time balance updates and instant spending notifications, setting it apart from traditional banks.
  • The introduction of Monzo for Under 16s demonstrates a commitment to financial literacy and early financial education, a niche not widely addressed by competitors.
  • Monzo's trio of industry-first security controls, including Known Locations, Trusted Contacts, and Secret QR codes, provides enhanced fraud protection that is unique in the digital banking sector.

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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