Job Description
Director of Fraud & Financial Crime Risk/MLROIreland We’re on a mission to make money work for everyone.We’re waving goodbye to the complicated and confusing ways of traditional banking.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!Monzo Europe is an Irish-based subsidiary of the Monzo Group which will, upon authorisation, be the base for Monzo’s expansion as a bank into the European Union. We are looking for an experienced Director of Fraud & Financial Crime Risk to lead and manage the fraud and financial crime risk management framework in Europe.You’ll be playing a key role…You will develop, implement, and oversee strategies, policies, standards, and procedures to mitigate fraud and financial crime risks, including Money Laundering, Terrorist Financing, Bribery and Corruption, Sanctions, Internal and External Fraud, and associated legal, regulatory and reputational risks.You will provide second-line oversight, perform risk and control assessments, and ensure compliance with local and European regulatory requirements. This role reports to the Chief Risk Officer, Monzo Europe.Responsibilities will lie across 3 key areas…Financial Crime Risk ManagementDevelop and maintain industry leading Financial Crime Risk Management Framework for Monzo Europe, covering Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), Anti-Bribery and Corruption (ABC), and Sanctions policies and standards.Define and monitor the Financial Crime Risk Appetite.Conduct and maintain Financial Crime Risk Assessments to identify, evaluate, and mitigate risks.Develop Financial Crime Risk monitoring and reporting processes including producing and presenting management information (MI) to key stakeholders.Provide 2nd line oversight, review and challenge of financial crime risk management activities.Perform independent validation of financial crime models.Driving the Financial Crime Monitoring and Assurance program, fostering a proportionate, risk-based culture towards combating financial crime within the region.Oversee the Identity & Verification (ID&V) and Customer Due Diligence (CDD/EDD) processes.Oversee and ensure effective Customer Screening (PEP, Sanctions, Adverse Media etc.) and Customer Risk Assessment, including scorecard design.Oversee and review our transaction monitoring systems and processes for suspicious transaction reporting.Develop and maintain financial crime dashboards, metrics, and data analysis to support decision-making.Ensuring first-line teams are fully versed in new laws, rules, and regulatory requirements related to financial crime in Ireland and the EU.Proactively liaising with regulators, law enforcement agencies, and other relevant parties to identify trends and combat organised criminal activities.Supporting the Director of Conduct & Compliance Risk and the Chief Risk Officer in building relationships with national competent authorities and other external parties.Discharge PCF-52 (Head of Anti-Money Laundering and Counter Terrorist Financing Legislation Compliance) under the CBI’s Fitness and Probity Regime.Develop and maintain the Fraud Risk Framework for Monzo Europe.Define and monitor the Fraud Risk Appetite.Conduct and maintain Fraud Risk Assessments to identify, evaluate, and mitigate fraud risks.Oversee fraud detection and investigation processes, including scorecard design and disputes management.Manage external fraud intelligence and investigations.Develop and maintain Fraud Risk monitoring and reporting processes including producing and presenting management information (MI) to key stakeholders.Develop and maintain fraud dashboards, metrics, and data analysis to support decision-making.Provide 2nd line oversight of fraud risk management activities.Perform independent validation of fraud models.LeadershipEstablish and lead the Fraud and Financial Crime Risk management function ensuring effective delivery through adequate resourcing, processes and technology in Monzo Europe’s businesses in the European Union.Build and provide strategic direction and leadership to the fraud and financial crime risk management team in Monzo Europe.Establish a robust fraud and financial crime risk management culture through comprehensive training and awareness programmes.Report to the Board, Board Risk Committee and Executive Committee on fraud and financial crime control effectiveness and material risks and issues.Contribute to the second line Risk Leadership Team (RLT), fostering a collaborative environment across the organisation.Ensure Fraud and Financial Crime Risk Management Frameworks, Policies, and Standards in Europe remain aligned to the Monzo Group.Minimum Qualifications:Proven experience in financial crime risk management and fraud prevention.Detailed knowledge and understanding of AML/CFT, ABC, and sanctions regulations in Ireland and Europe.Experience in developing, implementing and overseeing fraud and financial crime risk frameworks, policies, and standards.Extensive experience in a complex financial services firm or fintech/payments industry within Ireland or the EU, with a track record of operating at an MLRO level or equivalent.Strong operational background in managing effective financial crime programs, with a deep understanding of relevant regulatory requirements for Ireland and the EU.Exceptional interpersonal skills and the ability to engage with all organisation levels, including the Board and Executive.Adept at applying AML provisions, including KYC, Sanctions, and transaction monitoring, in a dynamic and diverse business setting.Capability in providing oversight and assurance on preventing, detecting, and deterring financial crime.Excellent analytical and data management skills.Strong leadership and communication skills.Ability to work collaboratively with various stakeholders across the organisation.Thrives in a fast-paced environment, handling complexity with ease and communicating effectively.Passionate about financial technology and motivated by the opportunity to be at the forefront of banking transformation in Ireland and the EU.Experience applying for regulatory licences in Ireland / the EU.Previously held a PCF-52 role or equivalent with a financial services institution in Ireland or an equivalent jurisdiction.What’s in it for youThis role will be based in Dublin, Ireland, however you will be expected to travel to Monzo’s offices in the UK and EU countries from time to time. 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. Annual Leave - 34 days including public holidays (24 holiday days + 10 public holidays) We’ll provide you with a Healthcare allowance to select your own provider. Personal Retirement Savings Account, up to 6% matching.We're just getting started building out our benefits package for Ireland. These could be subject to change, by the time you join, but we'll keep you in the loop of any expected changes.The application journey has 4 key stepsShort call with a Monzo recruiterVideo-call with the Hiring ManagerInterview Loop: 2 x video-call interviewsFinal Exec CallThis process should take around 2-3 weeks - your schedule is really important to us, so we promise to be as flexible as possible!If you have a preferred name, please use it to apply. We don't need full or birth names at application stage.Apply for this jobindicates a required fieldFirst Name *Last Name *Email *Phone *Resume/CV *Accepted file types: pdf, doc, docx, txt, rtfWe legally have to verify your Right to Work in the UK before you can start working for us. We're asking for this information now so we know later what type of right to work check we need to do. Your answer to this question won't affect the outcome of your application, unless you'd need visa sponsorship but are applying to a role we can't sponsor.Identity surveyOur goal at Monzo is to make money work for everyone. To do that, working at Monzo must work for everyone. We want to create an equitable, engaged and innovative workplace which gives people from all backgrounds the support they need to thrive and grow.Making Monzo work for everyone starts right at the beginning of every Monzonaut's journey: when they apply to work here. This demographic survey will help us better understand the people who apply to work at Monzo. It'll help us see how different groups progress through our hiring process, and where we need to make improvements to be more inclusive. #J-18808-Ljbffr