Senior Fraud Compliance Analyst

Monzo in London

:round_drawing_pin:London / UK Remote |:moneybag:£55,000 - 85,000 + Benefits |

About us:

We’re here to make money work for everyone and we're doing things differently. For too long, banking has been obtuse, complex and opaque.

We want to change that and build a bank with everyone, for everyone. Our amazing community suggests features, test the app and give us constant feedback so we can build something everyone loves.

We're focused on solving problems, rather than selling financial products. We want to make the world a better place and change people's lives through Monzo.

About our Team:

Our Financial Crime Compliance team is looking for a fraud specialist with knowledge of relevant laws, regulations and guidance to join our second line of defence. You’ll work as part of the MLRO’s team (The Financial Crime Compliance Team) to make sure we are compliant with fraud laws and regulation across different products, including current accounts, loans and overdrafts, business banking and international accounts. You will act as the MLRO's eyes and ears making sure there is oversight of trends and issues, escalating where appropriate.

We operate a “three lines of defence” model of risk management at Monzo. Most of the organisation (including the Financial Crime Team) sit in the first line of defence. Our MLRO and Financial Crime Compliance team sit in the second line. You will work closely with the 1LOD Financial Crime, Product, Engineering and Fraud Operations Teams to ensure compliance.

Your day-to-day

You’ll be responsible for:

  • Ensuring 1LOD teams understand the fraud risks relevant to their area by providing check and challenge to the business where necessary
  • Assessment and reporting of management information to identify potential issues
  • Conducting testing to ensure fraud tasks are being performed to a high standard
  • Monitoring the design and effectiveness of fraud controls across Monzo
  • Addressing and advising on any fraud incidents that arise
  • Advising on regulatory and risk issues as we expand into new products and geographies
  • Providing key inputs into the MLRO report and Risk Assessments
  • Supporting and inputting into financial crime-related governance meetings where risk, compliance and assurance matters are discussed with key stakeholders.
  • Oversight and challenge on regulatory reporting (REP017) and other regulatory notifications.

You should apply if you have:

  • You have experience working in a Financial Crime Compliance or Risk Team at a regulated firm and understand fraud and money muling risks associated with banking.
  • You are familiar with (and have applied/advised on) financial crime-related laws, rules and guidance (including payment services regulations and the contingent reimbursement model).
  • You are familiar with Consumer Duty and the impact that fraud can have on customers and innocent victims
  • You are familiar with the Financial Ombudsman decisioning on fraud related complaints.
  • You are comfortable reviewing data to identify patterns and trends and draw conclusions and associated recommendations that improve fraud capabilities.
  • You're able to work independently and with changing priorities and you are comfortable with ambiguity

The Interview Process:

Our interview process involves 3 main stages:

  1. 30 mins phone call with a recruiter
  2. An initial call with someone from the team
  3. 2-3 interviews remotely via hangouts

Our average process takes around 2-3 weeks but we will always work around your availability. You will have the chance to speak to our recruitment team at various points during your process but if you do have any specific questions ahead of this please contact us on core-hiring@monzo.com

What’s in it for you:

📍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

➕And much more, see our full list of benefits here

If you prefer to work part-time, we'll make this happen whenever we can - whether this is to help you meet other commitments or strike a great work-life balance.

Equal Opportunity Statement

We are actively creating an equitable environment for every Monzonaut to thrive.

Diversity and inclusion are a priority for us and we are making sure we have lots of support for all of our people to grow at Monzo. At Monzo, embracing diversity in all of its forms and 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. You can read more in our blog ,  2021 Diversity and Inclusion Report and 2022 Gender Pay Gap Report.

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.

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