Full-Time

Fraud Operations Manager

Prevent

Posted on 3/3/2025

Monzo

Monzo

1,001-5,000 employees

Digital-only banking platform for consumers

Compensation Overview

£48k - £59kAnnually

+ Share Options

Senior, Expert

Remote in UK

Category
Risk Management
Finance & Banking
Required Skills
Risk Management
Requirements
  • Excellent English written & verbal communication skills
  • Ability to lead large operational teams in fraud and/or financial crime to success
  • Experience analysing management information and building effective response plans along with associated change initiatives
  • Experience presenting to senior management on a range of topics
  • Experience working with multiple disciplines from 1st and 2nd line risk and product teams
  • Recent exposure to current and emerging fraud and/or financial crime trends
  • A good understanding of applicable UK laws and regulation (fraud prevention policy and regulations desirable)
  • Excellent management skills, with a track record of leading and developing leaders.
Responsibilities
  • Monitoring the day-to-day performance and service position of the fraud operation, and addressing identified challenges.
  • Ensuring fraud operations teams are equipped with effective training and guidance.
  • Leading their team to complete accurate, and efficient fraud investigations.
  • Supporting the Senior Manager in developing, communicating, and implementing operational change, at times this may be multiple projects simultaneously.
  • Building and maintaining a high-performance, agile, and empathetic management culture that is consistent with Monzo’s values.
  • Managing the personal and professional development of their direct reports.
  • Contributing to a strong control environment by minimising breaches and risk events, and resolving operational incidents when they occur.
  • Providing timely and useful ops MI to counterparts in 1LoD Fraud Risk to support their objectives in managing the risks for which they are responsible.
  • Working closely and collaboratively with the control owner(s) who are responsible for the fraud controls that drive operational demand, including relevant product squads.
Desired Qualifications
  • A good understanding of applicable UK laws and regulation (fraud prevention policy and regulations desirable).

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 users.

Company Size

1,001-5,000

Company Stage

Late Stage VC

Total Funding

$1.9B

Headquarters

London, United Kingdom

Founded

2015

Simplify Jobs

Simplify's Take

What believers are saying

  • Monzo's Under 16s account could attract a younger demographic and their families.
  • Monzo Flex aligns with the trend of flexible payment solutions, enhancing customer retention.
  • Monzo's potential IPO could provide significant capital for expansion and visibility.

What critics are saying

  • Monzo faces competition from Lunar's similar offerings for children's accounts.
  • Departure of COO Sujata Bhatia could lead to leadership instability.
  • Internal disagreements on IPO location could delay the process and affect investor confidence.

What makes Monzo unique

  • Monzo offers real-time updates and instant notifications for transactions via its app.
  • Monzo's 'Pots' feature allows users to set aside money for specific purposes.
  • Monzo Plus provides premium features like custom card designs and travel insurance.

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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

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

0%

2 year growth

0%
FF News
Mar 13th, 2025
Monzo Removes Waitlist For Under 16S Bank Account And Adds Two Brand New Features

Monzo, the UK’s largest digital bank with more than 11m customers, today announced they are removing the waitlist for their Under 16s product – making it available for any eligible parents or guardians to sign their kids up. U16s is a free account designed to bring the best of Monzo’s money management tools to children aged 6-15.Bringing Monzo magic to a new generation, the account gives children the opportunity to experience money firsts like saving, budgeting, receiving pocket money or using a card to pay in a shop, all while giving parents or guardians complete control and visibility to ensure they’re managing their money safely.This latest announcement includes two new features added to the product since launch:Additional parent access: Parents/guardians can now add another adult as an additional family member on the Under 16s account. This means two of them can look after their children’s accounts. Additional family members can see the child’s spending, add money, and even freeze their card.Friends & family can gift money: Parents can share a unique payment link with friends and family that they can use to send money directly to the Under 16s accountOver 300,000 accounts have been set up since launch, featuring:Free for every child: No sign-up, top up or subscription fees and no fees for spending abroadLoved Monzo features: Children can set savings goals, organise money in Pots, receive scheduled pocket money payments and customise their Monzo appNeon Monzo card: Kids choose their own pink, yellow or blue neon cardVisibility and control for parents: Parents have the child’s account linked to their own, and can choose to be notified when their child spends. Parents can set spending limits and use customisable controls to turn cash withdrawals and online payments on or off.In-app education: Guidance on money topics customers want their children to learn about, like saving, budgeting and spending safely onlineAccount grows with you: Children can graduate to a 16-17s account and again to a full Monzo account when they become an adultResearch from Monzo reveals that of the parents who discuss finances with their children, half of them (50%) said they want their children to understand how to save pocket money, with (42%) saying they wanted their children to understand how to create a budget.Parents or guardians can now sign up for Monzo for Under 16s here:https://monzo.com/current- account/under-16s

Tech.eu
Mar 11th, 2025
Lunar Launches App For Kids And Says It Can Capture 250,000 Customers

Nordic challenger bank Lunar is launching a paid offshoot app for children and teenagers and says it can capture hundreds of thousands of customers. The Danish challenger bank, which is ten years old, is launching Lunar Youth, designed for children and teens aged between seven and 17. In the UK, challenger Monzo is also launching a child-friendly app.Lunar Youth features include an option for children and teens to design their own card and app theme; digital tools, such as an overview of spending, real-time insights, spend categorisation and budgeting tools. The app is linked to a parent's bank account, and parents can set budget limits, monitor transactions, and access spending insights.It also includes category restrictions in areas such as crypto, gambling, and adult content while all online purchases require parental approval.Ken Villum Klausen, founder and CEO of Lunar, which has over 950,000 customers, said:"We’re building a digital bank for a digital generation—giving kids the tools to explore, learn, and build confidentially managing money, step by step, in a safe environment. We’ve been around for nearly a decade, and the customers who joined us in the early days have grown up with us—many of them now becoming parents themselves. "Lunar Youth isn’t just about kids; it’s about continuing to be the go-to bank for our users as they move through different life stages—whether they’re opening their first account as teenagers or helping their own children take their first financial steps."Lunar Youth is offered to users on some of Lunar’s paid tiers, priced at around four euros a month

LEP
Feb 27th, 2025
Online banking: 9 of the best digital-only banks with mobile apps - from Monzo to Revolut

In 2021, Monzo introduced "Monzo Flex," a buy-now-pay-later product, and has plans to launch pension services, allowing customers to consolidate their pension schemes within the app.

Finextra
Feb 14th, 2025
Monzo COO Bhatia steps down

Bhatia joined Monzo in 2020 from American Express, where she spent 15 years in a variety of roles including GM head of Europe, global merchant services.

Tech.eu
Feb 12th, 2025
Monzo’S Coo Sujata Bhatia To Exit After Five Years

Monzo’s chief operating officer Sujata Bhatia is leaving the UK challenger bank after five years.Bhatia announced on LinkedIn that she is "stepping away" from the neobank, saying it was the right time to exit.She said:“There’s never a good time to leave a company that’s on a tear and has some of the best and smartest people driving it forward, but in many ways, that’s exactly why it feels like the right time. I couldn’t be prouder of what we’ve achieved as a company over the last five years.”Bhatia, a former American Express executive, pointed to some Monzo highlights during her tenure, including the challenger backing becoming full-year profitable.She also singled out CEO TS Anil, who she said had taken the “bar for leadership to new levels".Bhatia, who was part of Monzo’s executive team, didn’t reveal details of her next move.Prior to Monzo, Bhatia spent almost 16 years at American Express, including roles as senior vice president for Global Merchant Services Europe and senior vice president of Global Strategy and Capabilities.Anil said:“Sujata has been an incredible force over the past five years and I’d like to pay a special thanks to her for everything she’s done to help build Monzo into the success it is today. She leaves with all our love and gratitude as she embarks on her next chapter.”Monzo, which now has move 10 million customers, and is valued at $5.9bn, is set to launch across the EU next year

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