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Director of Legal, Business Banking & Payments

Cardiff, London or Remote (UK)

📍London or Remote UK | 💰 up to ÂŁ160k  + Stock Options + Benefits | Hear from the team ✨

We’re looking for a Director of Legal for Business Banking & Payments to join our team at Monzo and help us build one of the best, most innovative banks in the world.

You’ll join our Legal & Board Governance Collective, which includes legal, company secretarial, sustainability and public policy teams. In this leadership role as Director of Legal for Business Banking & Payments, you will report to Monzo’s Director of Product Legal and work within a team of product lawyers to give first rate legal advice and support to Monzo’s Business Bank and its Payments business as it develops new products and scales globally. 

Your day-to-day:

  • You’ll work directly with Monzo’s General Manager of Business Banking, Monzo’s General Manager of Payments and its product managers and engineers to provide legal advice and commercial insights to develop and grow Monzo’s Business Bank. 
  • In particular, you will: 
    • support Monzo with the operational and product changes needed to offer point of sale (POS) and online card payment acceptance to our business banking customers.
    • negotiate commercial terms with suppliers and partners and advise Monzo’s Business Bank on the commercial context of transactions and partnerships.
    • provide advice on the relevant regulatory and industry rules for business banking and payments, including The Payment Services Regulations 2017 and relevant card scheme rules.
    • Provide advice and support in developing a multi-currency wallet functionality and be able to support international payments for business banking/SMEs.
    • bring an understanding of micro, small and medium sized businesses to help Monzo build new business banking products including SME software services and business banking ancillary services and features such as business banking regulated and unregulated credit.

 

  • You’ll work closely and collaboratively with Monzo’s Director of Product Legal, Monzo’s VP & Head of Legal UK and the other members of the UK Legal team to provide legal advice and commercial insights to Business Banking and Payments leadership, C-suite and Board.

 

  • You will play a key leadership role in providing high-quality payments and business banking legal advice, helping to lead, shape and structure a range of new products and services, and taking a key leadership role as needed to drive impact for our customers and grow Monzo safely.

  • You’ll be a trusted senior advisor and will work proactively and collaboratively with other relevant stakeholders and teams across the Monzo Group, including the Product, Risk & Compliance, Supplier Operations, Financial Crime, Fraud, and Operations teams including at C suite and Board level.

  • You’ll work with Monzo’s Director of Product Legal, VP & Head of Legal UK and VP of Compliance to identify legal and regulatory risks relating to existing and new products, ensure robust challenge and scrutiny of product changes as they go through Monzo’s governance process and to ensure that the businesses you support respond appropriately to new and changed legal and regulatory requirements.

  • As a senior leader  and a member of the senior leadership team in the Collective, you will be expected to stay ahead and actively monitor legal and regulatory developments relevant to Monzo’s Business Bank and Payments. You’ll take responsibility for providing forward-looking guidance and insights on key legal and regulatory developments, risks, and opportunities, thus helping positioning Monzo to thrive in a dynamic legal and regulatory environment.

  • You’ll work with the Legal and Board Governance collective to improve the commercial management of the activities of the legal team, including through identifying suitable technology solutions to streamline workflows, optimise processes and work efficiencies, and increase scalability.

 

  • You’ll proactively manage relationships with external suppliers and law firms to enhance processes around budget and cost management to ensure we are optimising our spend and extracting best value while delivering top-quality legal support. 

 

  • You’ll manage, mentor and support other lawyers and you’ll take a lead on initiatives owned and managed by the Legal & Board Governance Collective.

 

You should apply if:

 

  • You are a technically excellent and experienced banking and payments lawyer with a minimum of 10 years of post-qualification experience (PQE).

 

  • You have a strong background advising on commercial and regulatory issues relating to business banking products and payments and ancillary products and services for business banking/SMEs. 

 

  • You have worked for either a market leading platform offering POS and online payments acceptance or an acquiring business or supported the build out of business banking propositions. Alternatively, you’ve advised these types of businesses in private practice but have some experience of having worked in house in a fast paced growth organisation.

 

  • You have demonstrated experience of advising on laws and regulations relevant to financial services, in particular payment services and the boundary between regulated and unregulated lending in business banking.  You are able to explain complex regulations in a simple way and you look for innovative ways of solving problems. 

 

  • You have a strong understanding of the spectrum of financial products and services aimed at micro, small and medium sized businesses and you have the necessary understanding of company and insolvency law to advise on issues relating to business customers at all stages of their life cycle.

 

  • You are a strong communicator who can provide clear, precise, and practical legal advice, effectively articulating what is relevant and important in a concise manner. You can take a position on key issues, present persuasive recommendations, and constructively drive consensus among senior stakeholders.

 

  • You have excellent organisational skills and attention to detail, with the ability to prioritise and work effectively and independently under tight deadlines across multiple projects.

 

  • You have outstanding interpersonal and team player skills and are experienced in working across a network of cross-functional stakeholders to collaboratively solve problems. You develop effective relationships with key stakeholders and can influence decision making at the most senior level.

 

  • You are a strategic thinker and a keen problem solver, skilled at assessing risk and recommending solutions that balance commercial and risk considerations. You think ahead, anticipate relevant challenges, deeply understand the commercial objectives of the teams you support, set clear objectives, and find effective solutions. 

 

  • You enjoy horizon scanning, proactively assessing risks, and quickly identifying and independently implementing mitigating actions. You are always looking for new ways to improve the efficiency and scalability of legal processes and systems.

 

  • You bring energy and presence and excel at building open, trusting relationships across all levels of the organisation, including the Board and C-suite levels, in global or international settings.

 

  • You have a dynamic and entrepreneurial approach and are comfortable with the ambiguity of a fast-paced and rapidly-evolving environment.

 

  • You are proactive, take initiative to broaden your knowledge, and are passionate about the intersection of banking and technology and the transformation unfolding in consumer finance. You are excited to join us for the next stage of our journey at Monzo!

 

The interview process:

 

Our interview process involves 3 main stages: 

 

  • Recruiter call
  • Initial call 
  • Full loop: Technical and behavioural interviews 

 

Our average process takes around 3-4 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 *business-hiring@monzo.com*

 

What’s in it for you:

 

💰 up to ÂŁ160k ➕ plus stock options & benefits 

✈️ We can help you relocate to the UK

✅ We can sponsor visas

📍This role is based in our London office. If you are not based in London, we're open to discuss this on a case by case basis.

⏰ 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

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