Product Legal Counsel, Borrowing

📍London/Cardiff/UK Remote | 💰circa £100,000k + Stock Options + Benefits | Hear from the team ✨

⭐Our Product Legal team

We’re 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 Monzo’s Borrowing Collective.

In this role, you’ll work closely with Monzo’s Borrowing collective to build and deliver mortgage and consumer finance products, and support the team in making money work for everyone. You’ll 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.

🔑You’ll 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.
• You’ll 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.
• You’ll 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.
• You’ll 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 Monzo’s governance process and to ensure that the businesses you support respond appropriately to new and changed legal and regulatory requirements.
• You’ll support Monzo’s 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.
• 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 cost management to ensure we are optimising our spend and extracting best value while delivering top-quality legal support.

🤩 We’d 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 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.

🙌What’s in it for you

💰 circa £100,000k ➕ 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, 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

#LI-DH1 #LI-REMOTE