Director of Compliance

📍London, Cardiff or Remote (UK) | 💰 £160,000 - £200,000 + Benefits | Hear from the team ✨

⭐ Our Compliance team

We’re looking for an experienced, collaborative and pragmatic Director of Compliance to lead our Monzo Bank Limited (MBL) UK Compliance teams and help us build one of the best, most innovative banks in the world. We need someone to own the strategic direction and leadership for all things Compliance & Conduct Risk Oversight. At Monzo we operate a “three lines of defence” model. You’ll join the second line of defence (2LoD) as part of the senior leadership team, reporting directly to our VP of Compliance/Compliance Officer and managing the Head of Compliance Advisory and Head of Compliance Assurance.

At Monzo we do things differently: we truly care about providing a phenomenal experience for our customers. We believe there’s a better way to do banking, and we want to be the best possible (fully compliant!) bank without getting stuck in the old ways of doing things.

🔑 You’ll play a key role by...

• Working closely with the VP of Compliance, you’ll lead Monzo’s approach to Compliance and Conduct Risk Oversight. You’ll work with senior management to instill a positive, proactive culture towards compliance and regulation across the Bank, and maintain and enhance our frameworks to deliver great outcomes and avoid causing customer harm.
• You’ll be a trusted senior advisor and will work proactively and collaboratively with other relevant stakeholders and teams across Monzo, including Regulatory Affairs, Product, Operations, Risk & Control, Legal, Corporate Secretariat and 2LoD/3LoD teams, including at Executive and Board level.
• Provide leadership, strategic direction and development to our growing Compliance Advisory and Assurance teams, ensuring everyone has the opportunity to learn and perform work that meets our high standards and that focuses on what really matters to Monzo and Monzo’s customers.
• Oversee execution of the annual Compliance Assurance plan and Compliance Advisory business partnership model, ensuring accurate and timely compliance assurance and technical advice is provided in relation to Monzo’s products, services, processes and strategic initiatives.
• Lead oversight and assessment of the effectiveness of Monzo’s management of Conduct Risk, including embeddedness and ongoing enhancement of the Bank’s Consumer Duty practices.
• Represent Compliance in respect of Conduct Risk related items at our Executive and Board Risk Committees, and oversee associated Committee reporting.
• Help maintain strong relationships with our UK regulators and other third parties, keeping them in the loop with key developments as we continue to scale.
• Stay up to date with industry developments to ensure we are fully compliant whilst also helping us influence regulatory developments.

🤩 We’d love to hear from you if…

• You have previously led Compliance teams within financial services (FinTech/NeoBank desirable), with significant experience of the UK Retail Banking, Savings, Investments, Insurance and Payments environment, Conduct Risk and the associated regulatory requirements.
• You have exceptional knowledge and experience of developing best practice Compliance and Conduct Risk frameworks, policies and methodologies.
• You can interpret FCA consultations and regulations, and have a strong understanding of the FCA and other regulatory requirements relating to UK Retail Banking and Payments, such as Consumer Duty, SYSC, BCOBS, COBS, ICOBS, DISP, CONC, Payments Services Regulations and Competition & Markets Authority requirements.
• You communicate clearly and effectively and provide effective and proportionate challenge, whilst building strong, respectful and trusting relationships across all levels of the organisation, including at Executive and Board level.
• You’re an exceptional people leader who enjoys leading high performing, engaged teams with empathy.
• You have excellent organisational skills and attention to detail, with the ability to work at pace: prioritising working effectively and independently under tight deadlines across multiple projects.
• You have outstanding interpersonal and team player and leadership skills and are experienced in working across a network of cross-functional stakeholders to collaboratively solve problems.
• You are a strategic thinker and a keen problem solver, skilled at assessing risk and recommending solutions that balance both strategic and regulatory considerations. You think ahead, anticipate relevant challenges and questions, set clear objectives, and find effective solutions.
• You are proactive, take initiative to broaden your knowledge, and are passionate about the intersection of banking and technology. You are excited to join us for the next stage of our journey at Monzo!

🙌 What’s in it for you

💰£160,000 - £200,000 ➕share options

✈️ We’ll help you relocate to the UK

✅ We can sponsor your visa

📍 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 4 key steps

• 30 min recruiter call
• 30 min initial call with the Hiring Manager
• 2 hours of technical and behavioural interviews
• 30 min stakeholder call

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 [email protected]. 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.

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