Full-Time

Regulatory Reporting Manager

EU

Posted on 11/19/2024

Monzo

Monzo

1,001-5,000 employees

Digital-only banking platform for consumers

Fintech
Financial Services

Compensation Overview

Ā£80k - Ā£90kAnnually

+ Stock Options

Mid, Senior

London, UK

This role is based in our London office.

Category
Risk & Compliance
Legal & Compliance
Required Skills
Data Analysis
Requirements
  • You have experience understanding and operationalising a wide range of regulatory requirements and the associated reporting across the UK and EU
  • You have experience in the large-scale implementation and user acceptance testing (UAT) of automated regulatory reporting solutions
  • You are able to identify areas for improvement, propose dynamic solutions and implement these changes quickly and safely
  • You have excellent planning, organisation and time-management skills and are able to work independently and manage people on this basis
  • You can demonstrate a proven track record of excellent team leadership and coaching skills with the ability to provide empathy and guidance
  • You're excited to leverage technology to automate reporting and capital management with a track record of continuous process improvement
  • You have a great eye for detail and are numerically astute
  • Are self-motivated, ā€˜hands-onā€™ and take satisfaction in supporting colleagues, projects or tasks however big or small
Responsibilities
  • Overseeing the identification and interpretation of the regulatory rules and guidance applicable to the regulatory reporting across Monzo Group (UK, EU)
  • Working with a range of internal and external stakeholders (e.g. Treasury, Data, Financial Risk) to navigate complex concepts and achieve the best outcome across Monzo Group
  • Proactively understanding and implementing how Monzo Group has interpreted the regulatory rules and guidance and ensuring ongoing compliance in the production of returns
  • Ensure that the processes and controls in place to support production of returns across Monzo Group are of the highest standard, to facilitate accurate, complete and timely reporting
  • Managing the people and processes that produce our timely, accurate and complete regulatory reporting across Monzo Group
  • Review all capital, liquidity and financial regulatory reporting and any other reporting the Group Regulatory Reporting team oversees
  • Oversee the production and review of Pillar 3 disclosures and ensure consistency across Monzo Group
  • Working closely with our engineers and data scientists to ensure we source the correct data consistently across Monzo Group for regulatory reporting
  • Instilling a culture of continuous improvement throughout and engaging effectively with relevant stakeholders to implement changes that lead to improvement across Monzo Group
  • Play a key role in the automation of Monzoā€™s regulatory reporting, specifically system implementation, user acceptance testing (UAT) and on-going system maintenance
  • Ensuring that changes to processes that support regulatory reporting across Monzo Group are implemented quickly and safely
  • Developing, implementing and maintaining the governance and control framework required for regulatory reporting and expected by Monzo Groupā€™s Regulators
  • Working with the rest of Monzo to help them understand regulatory implications of new products and services
  • Contribute towards our ambitious expansion plans including supporting the rest of Monzo and ensuring that the Regulatory Reporting team is always an enabler

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

ā†‘ 8%

1 year growth

ā†‘ 25%

2 year growth

ā†‘ 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