Senior Legal Counsel - Employment, Incentives & Pensions

Monzo Bank Limited

Job Overview

Location

London; Remote (UK)

Job Type

Full-time

Full Job Description

📋 Description

• Embark on a pivotal journey with Monzo Bank, a leader in revolutionizing traditional banking, as a Senior Legal Counsel specializing in Employment, Incentives, and Pensions (EIP). This role is instrumental in shaping the legal landscape of our rapidly growing, regulated financial institution, ensuring robust compliance and strategic guidance across all EIP matters. You will be a cornerstone of our Group Centre EIP team within the Legal & Board Governance Collective, reporting directly to the Director of Legal - EIP and supporting Monzo Group and its global operating entities.
• As a key player in our mission to make money work for everyone, you will provide strategic, commercial, and pragmatic legal advice on a wide spectrum of EIP issues. This involves close collaboration with various internal teams, including People, Reward, Risk & Compliance, and Finance, as well as senior legal stakeholders, particularly as we evolve into a matrix organisation. Your expertise will be crucial in navigating the complexities of employment law within a regulated banking environment, ensuring our practices align with both legal requirements and our innovative company culture.
• You will be the trusted legal advisor to our People team, actively contributing to the development and refinement of policies, procedures, guidance, and templates. This proactive engagement ensures our HR practices are legally sound, efficient, and scalable, supporting our employees throughout their entire lifecycle at Monzo – from recruitment and executive service contracts to ongoing people processes and departures.
• A significant aspect of your role will involve managing contentious EIP legal matters, working in close conjunction with external counsel to achieve optimal outcomes. You will also play a vital role in advising our Reward team on compensation structures, remuneration policies, and practices, ensuring compliance within the stringent regulatory compensation framework applicable to banks.
• Your responsibilities extend to providing essential legal support to our corporate and commercial legal functions, including critical areas such as TUPE (Transfer of Undertakings (Protection of Employment)) regulations. As Monzo continues its international expansion, you will be instrumental in supporting global projects and matters in key markets like the EU and US, adapting our EIP strategies to diverse legal environments.
• You will foster a culture of proactive collaboration, working seamlessly with colleagues across the Legal, People, Reward, Tax, Risk & Compliance, and Finance Collectives. This cross-functional approach ensures a holistic understanding and management of EIP-related matters, driving efficiency and innovation.
• A core objective will be to develop and implement robust internal frameworks, processes, and procedures. This initiative aims to enhance the efficiency and scalability of EIP legal advice across the entire Monzo Group and its subsidiary entities, ensuring consistency and best practice.
• You will be a key educator within the organisation, delivering training sessions and sharing valuable insights derived from your work. This knowledge-sharing empowers colleagues and fosters a deeper understanding of EIP matters across the business.
• Managing our relationships with external legal counsel will be a critical function. You will work collaboratively with others in the Collective to ensure we are optimising our legal spend on EIP matters, securing the best value and strategic advantage from our external partnerships.
• This role offers unparalleled opportunities for professional growth, allowing you to deepen your expertise in a dynamic and fast-paced fintech environment. You will be at the forefront of legal innovation, contributing to Monzo's continued success and its mission to disrupt the banking industry.
• We are looking for someone who thrives in ambiguity, possesses a dynamic and entrepreneurial spirit, and is comfortable navigating the complexities of a rapidly evolving business landscape. Your ability to horizon scan, proactively assess risks, and independently implement mitigating actions will be highly valued. We encourage continuous improvement, seeking new ways to enhance the efficiency and scalability of our legal processes and systems.
• Your open and curious mind, coupled with a passion for the intersection of banking and technology, will be essential as you join us for the next exciting stage of our journey. This is more than just a legal role; it's an opportunity to be part of a transformative mission and shape the future of banking.

🎯 Requirements

• Minimum of 6 years Post-Qualified Experience (PQE) or equivalent, with a strong technical grounding in all aspects of employment law.
• Experience advising on employment-related regulatory issues within the financial services sector, including familiarity with SMCR, FCA Code of Conduct, and wider Remuneration Code matters.
• Proven experience advising on incentive structures (e.g., share options) and an awareness of workplace defined contribution pension arrangements.
• Strategic thinking, strong communication, and problem-solving skills, with the ability to balance business needs and risk perspectives.

🏖️ Benefits

• Competitive salary (£93,500 - £126,500) based on experience, plus stock options.
• Flexible working hours and the ability to work remotely within the UK, with occasional London office visits.
• Annual learning budget of £1,000 for professional development (books, courses, conferences).

Skills & Technologies

Senior

Remote

£93k-126k

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Monzo Bank Limited

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About Monzo Bank Limited

Monzo Bank Limited is a UK-regulated digital bank offering personal, joint, and business accounts, savings, loans, overdrafts, and mortgages via a mobile-first platform. Licensed by the PRA and FCA, it provides real-time spending notifications, budgeting tools, and fee-free foreign transactions. Founded in 2015 as Mondo, it rebranded in 2016 and serves over nine million customers.

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