Product Legal Counsel, Borrowing

Were on a mission to make money work for everyone.

Were waving goodbye to the complicated and confusing ways of traditional banking.

After starting as a prepaid card our product offering has grown a lot in the last 10 years in the UK. As well aspersonal and business bank accounts we offer joint accounts accounts for 16-17 year olds a free kids account and credit cards in the UK with more exciting things to come beyond. Our UK customers can also save invest andcombine their pensions with us.

With our hot coral cards and get-paid-early feature combined with financial education on social media and our award winning customer service we have a long history of creating magical moments for our customers!

Were not about selling products - we want to solve problems and change lives through Monzo

Hear from our UK team about what its like working at Monzo

London/Cardiff/UK Remote circa 100000k Stock Options Benefits Hear from the team

Our Product Legal team

Were looking for a Product Legal Counsel to join our team at Monzo at Senior Legal Counsel level to help us build one of the best most innovative banks in the world. You will report to the Director of Legal Product and work within a team of product lawyers to give first rate legal advice and support to Monzos Borrowing Collective.

In this role youll work closely with Monzos Borrowing collective to build and deliver mortgage and consumer finance products and support the team in making money work for everyone. Youll work at all levels in the organisation and with a wide-range of stakeholders from Product Managers and Designers to Operations professionals Software Engineers Credit and Risk and Compliance. You will work together with a team of product lawyers trying to improve our customers financial lives.

Youll play a key role by...

• Working directly with senior lawyers product managers and engineers to provide legal advice and commercial insights to develop and grow Monzo Bank in the UK.
• In particular you will:
• Partner with product managers to advise on legal matters relating to our borrowing products and and advise on the legal and regulatory requirements for a growing bank offering mortgage referral credit card loan credit information service overdraft products and business lending.
• Support with incidents and queries relating to compliance with the Consumer Credit Act (CCA) MCOBS recoveries collections and customers in financial difficulty considering both conduct and legal requirements.
• Coordinate and collaborate on legal matters with teams across Monzo including the Compliance Risk and Control other control functions and business teams.
• Provide training and knowledge sharing with other Monzonauts on the impact of laws and regulations on Monzo or our customers.
• Often act as the sole lawyer advising product managers or other colleagues (with support behind the scenes from more senior lawyers) and therefore act autonomously take ownership of matters identifying legal issues proactively evaluating relevant risks and finding effective solutions to unique and complex business activities.
• Help colleagues in the Legal Team to build a world-class and scalable high performing Legal team by testing and developing new ways of working to enable Monzo to scale quickly and safely and in accordance with the law and regulation.
• Youll work closely and collaboratively with Senior Legal Counsel Borrowing and Director of Product Legal and the other members of the UK Legal team to provide legal advice and commercial insights to Product teams.
• Youll be a trusted advisor and will work proactively and collaboratively with other relevant stakeholders and teams across the Monzo Group including the Product Risk & Compliance Supplier Operations Credit Financial Crime Fraud and Operations teams.
• Youll work with other lawyers and 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 Monzos governance process and to ensure that the businesses you support respond appropriately to new and changed legal and regulatory requirements.
• Youll support Monzos global product development work by coordinating the legal review of products by collaborating with legal teams in the EU and US to identify local legal and regulatory requirements.
• Youll 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.
• Youll proactively manage relationships with external suppliers and law firms to enhance processes around cost management to ensure we are optimising our spend and extracting best value while delivering top-quality legal support.

Wed love to hear from you if

• You are a technically excellent lawyer with a minimum of 5 years of relevant post-qualification experience working in the banking and finance sector with a focus on mortgages and consumer finance.
• You have a strong background advising on commercial and regulatory issues relating to banking products with specific knowledge and experience evidenced in mortgages and consumer finance.
• You have demonstrated experience of advising on laws and regulations relevant to financial services in particular mortgages and consumer finance. You are able to explain complex regulations (including the CCA and MCOBS) in a simple way and you look for innovative ways of solving problems.
• You have experience advising on the content of regulated financial promotions and supported marketing teams with legal issues relating to the marketing of financial products.
• You have experience drafting customer facing terms and conditions including both regulated and unregulated credit agreements.
• 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 good interpersonal and team player skills and can evidence working across a network of cross-functional stakeholders to collaboratively solve problems.
• You are a keen problem solver skilled at assessing risk and recommending solutions that balance commercial and risk considerations. You think ahead anticipate relevant challenges 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 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 application journey has 3 key steps

• 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.

Whats in it for you

circa 100000k plus stock options & benefits

We can help you relocate to the UK

This role is based in our London office. If you are not based in London were 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 1000 a year for books training courses and conferences

And much more see our full list of benefits here

#LI-DH1 #LI-REMOTE

Equal opportunities for everyone

Diversity and inclusion are a priority for us and were making sure we have lots of support for all of our people to grow at Monzo. At Monzo were embracing diversity by 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 2024 Diversity and Inclusion Report and 2024 Gender Pay Gap Report.

Were 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.

If you have a preferred name please use it to apply. We dont need full or birth names at application stage