Legal Director, US

  • Monzo
  • United States
  • Jun 04, 2019
Full time Legal

Job Description

We’re looking for a business-savvy, collaborative and experienced senior Legal Counsel to help us build a product to revolutionize banking for millions of Americans, and to be the first member of Monzo’s Legal team based in the US.

We’re the UK’s fastest-growing bank

We’re an established brand with nearly 2 million customers and over 800 staff. More than 28,000 people open an account each week, making us the fastest-growing bank in the UK. We have raised more than $250 million from some of the world’s top VCs. Our bank account is a fully-featured mobile checking account which our customers love – we’ve won awards for our customer service and our Net Promoter Score is +80.

Now we want to launch in the US

We’re now starting to work towards expanding into the US market. We think that Americans will love our easy-to-use product, great customer service and low fees. But we’re just getting started on our journey, so we need someone comfortable working quickly, building from scratch and acting proactively. Initially, this role will report to the VP Legal in the UK. When you join you will be the only and most senior member of our legal team in the US. You will therefore have an important role in helping Monzo build out its US business and the legal team.


You'll spend your time: 

  • Helping design Monzo’s debit card offering in the US in partnership with a US bank and launching Monzo’s business in the US
  • Work on Monzo securing a US banking charter, assisted by our external US counsel.
  • Advise and take the lead on a wide range of legal issues impacting the US business, notably contractual, commercial and regulatory issues
  • Develop and implement policies and procedures applicable to the US business and handling the US aspects of any group legal issues such as corporate structuring, insurance, data protection etc.
  • Engage with US regulators and navigate regulatory processes and communications.
  • Set, lead and manage the culture of risk and compliance across the team in the US and work with our UK Legal, Risk and Compliance teams to define our risk appetite in the US.
  • Build the US Legal team and manage US legal budget.
  • Partner with UK Legal team to ensure legal operations and processes scale internationally. 
  • Work closely with the US CEO, and other key members of Monzo’s leadership and International team, as well as alongside the UK-based legal team on legal issues affecting the wider group.

You should apply if you have:

  • 5-10 years experience as a US qualified lawyer. Ideally you are admitted to practice law in New York and/or California,
  • Experience of working on innovative consumer-focused financial products, and have spent time in-house with a US Payments company or similar US FinTech business.
  • An ability to think strategically and a keen problem solver who knows how to quickly assess risk and recommend a risk-based solution.
  • A high level if comfort working in a fast-paced business and with ambiguity, effortlessly handling volume, detail and complexity, but working and communicating with simplicity.
  • First-class drafting, negotiation and communication skills, combined with strong analytical skills, good business and commercial judgement, and an ability to sensibly assess risk.
  • Flexibility to handle a range of legal issues that come up in a start-up environment, even if outside your core areas of expertise, and can sensibly assess when best to engage external counsel in a cost-effective way.
  • Previously managed a team of lawyers and have worked on projects collaboratively in cross-functional and internationally dispersed teams. Bonus points if you have experience of building new legal functions from the ground up.
  • Experience operating at all levels of the organisation up the Board and Executive, but most importantly you are always ready to roll your sleeves up and get things done and understand the need always to act with integrity, discretion and independence.
  • Passion for technology and what we are doing here at Monzo excites you! You think that banking in the US needs to fundamentally change and you want to be at the forefront of that revolution. You are excited about the prospect of helping build Monzo in the US and are happy to contribute to the growth of the wider business.