Senior Risk & Compliance Officer
About the role
Senior Risk & Compliance Officer for the Spanish Branch of Monzo Bank Europe, responsible for implementing the Risk Management Framework in Spain, monitoring local risks across operational, conduct and compliance areas, and supporting regulatory engagements with Banco de España.
Responsibilities
- Acting as the primary 2LOD point of contact for the Spanish branch, establishing and embedding a robust risk and compliance culture.
- Monitoring and interpreting local regulatory updates from the Banco de España and other relevant authorities, ensuring changes are effectively integrated into local operating procedures.
- Coordinating and drafting regulatory risk and compliance reports for local authorities, the Spain Branch Management Committee and EU-level Risk Committees as appropriate.
- Supporting the Spain Branch Manager in maintaining clear local governance, accountability structures, and regulatory horizon scanning and mapping.
- Developing, maintaining, and reporting against the Branch Risk Appetite Statement (RAS).
- Establishing and maintaining branch-level risk and compliance dashboards, metrics, and data analytics capabilities.
- Attending and actively participating in relevant internal governance forums, presenting MI and risk dashboards to key stakeholders.
- Serving as a key leader within the wider Risk and Compliance team concerning all matters related to the Spanish business.
- Championing a strong risk and compliance culture across Monzo's Spanish operations by developing and delivering training and awareness programs.
- Overseeing the branch’s operational risk profile, ensuring incidents and near-misses are captured, investigated and mitigated.
- Contributing to the Risk and Control Self-Assessment (RCSA) process for branch risks and controls.
- Providing targeted 2LOD oversight on ICT, Cybersecurity, and Data Privacy (GDPR/local data protection) risks, aligned with DORA and local frameworks.
- Overseeing Payment Services compliance (PSD2/PSD3/PSR transitions), transaction resilience, instant payment performance, and uptime.
- Overseeing risk and control assessments for local Third-Party Providers and outsourced services with SLAs monitored in line with local outsourcing regulations.
- Acting as the Customer Service Representative of the Branch (as per Order ECO/734/2004).
- Reviewing and overseeing the conduct risk profile to ensure compliant product design, marketing and customer interactions.
- Monitoring and challenging local compliance processes including complaints data, trend analysis, product governance and GTM strategies.
- Preparing and presenting the annual Customer Service report to Branch Management with actionable recommendations.
- Leading local Compliance Assurance reviews to validate internal controls.
- Coordinating with EU compliance to address local nuances and regulatory expectations.
- Providing 2LOD sign-off for all advertising and marketing materials for the Spanish market.
- Contributing to ongoing regulatory horizon scanning and change management.
- Monitoring and challenging local credit risk framework; supervising credit portfolio quality and underwriting deviations.
- Ensuring alignment of local risk appetite statement with business activities.
- Acting as Deputy MLRO for the Spain Branch, providing governance coverage for the MLRO and supporting AML/CFT compliance with authorities (SEPBLAC).
Qualifications
- Minimum of 7 years of experience in Risk Management, Compliance or Internal Audit within a regulated retail bank, digital bank, or top-tier fintech operating in Spain
- Deep understanding of Banco de España regulations and broader EBA/ECB requirements (CRD V, PSD2/3, GDPR, DORA, AML/CFT)
- Proven experience working with regulatory authorities and managing compliance-related audits
- Experience overseeing multiple risk types with emphasis on Operational Risk, ICT/Security Risk, Conduct risk, Compliance Risk and basic Credit Portfolio Quality reviews
- Native or bilingual Spanish with excellent English (written and spoken)
- Ability to work in a matrix environment and challenge senior executives constructively
- Passion for fintech and banking transformation in the EU
Skills
Benefits
- €75,000 - €95,000 salary
- Incentive Awards tied to performance
- Hybrid working model (Madrid office 2-3 days/week) with occasional travel to Dublin/London head offices
- Flexible working hours
- Annual leave 38 days including public holidays
- €1,200 learning budget per year
- Private healthcare scheme
- Wellbeing benefits including financial education, health support and mental health resources
About Monzo Bank
A bank as smart as your phone.
YC has written a good overview of our business on their blog: https://blog.ycombinator.com/monzo-makes-money-work-for-everyone/ Our mission is to make money work for everyone. We are the UK's leading digital bank for individuals and businesses, reinventing the traditional banking industry one customer at a time. We're relentlessly mission driven and always put our customers first - from what products we chose to launch next to our transparency and use of simple language. With a Net Promoter Score of 70+, it shows. From our founding in 2015, we now have over 7 million customers in the UK (13% of UK adults) and are building out our team in the US. We've seen incredible organic growth, acquiring 150,000 customers / month in 2022, with 80% of this coming from word of mouth. Our weekly active user rate is ~60% and ~40% of our active users use us as their Main Bank account, showing that we are a product that is embedded in our users' daily lives. We've grown to ~2,450 staff (~400 of which make up the product/tech team), and are backed by YC, Stripe, Tencent, Mike Moritz, and others. Internally, we encourage an open, collaborative, and inclusive working environment - we were voted the #1 startup where people in the UK want to work for the second year running in 2022. We contribute to open source software, and we continually engage with our wonderful community. We're hiring talented, creative problem-solvers to help us build the bank of the future. Join us!
More open roles at Monzo Bank
- Lead Brand Designer5d agoHybrid (London) · Design
- Sales Account Executive5d agoLondon · Operations
- Model Validation Senior Manager5d agoHybrid (London or Remote (UK)) · Risk & Compliance
- Senior PR and Communications Manager (12 month fixed-term contract)5d agoHybrid (London / UK remote) · Marketing & Community
- Senior Growth Marketing Executive, Business Banking EU5d agoHybrid (London, UK) · Marketing & Community