Payments Operations Specialist, Monzo
£32.9-44.6k
+ Equity
Digital-only bank platform and marketplace
Be an early applicant
Digital-only bank platform and marketplace
1001+ employees
Be an early applicant
£32.9-44.6k
+ Equity
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- You can demonstrate an understanding of Payments Operations in a similar environment
- You have experience in creating & improving processes (within Finance, Accounting, or similar environments)
- You can own a project end-to-end, from inception to launch/delivery
- You can adapt to new systems easily
- You have a high attention to detail and delight in investigating and solving issues for people
- You have a keen eye for process improvements
- You’re a team player, we work best as a supportive and collaborative team
- You thrive in a dynamic and constantly evolving environment
- You’re a self-starter and are hands-on
What the job involves
- We’re looking for an enthusiastic, diligent Operations Specialist to join our Payment Operations team in London, and help us build an amazing operational function
- You’ll be joining a small team of specialists in our London office, responsible for managing the critical payments processes that keep Monzo running smoothly across the globe
- You’ll help us continuously improve our processes to adapt to ever-changing demands, and will have the opportunity to work with the wider payments engineering team to develop innovative, technology led solutions
- You'll be managing cash in our corporate accounts and processing critical high value business payments
- Managing and executing daily Treasury payments
- Managing and executing payment processes to ensure payments work flawlessly for our customers
- Managing physical cheque operations
- Promptly dealing with escalations and queries from our Customer Operations team
- Maintaining existing and creating new procedural documentation
- Actively seeking efficiency improvements to processes, and working closely with Analysts and Engineers to implement these
- Carrying out important checks to ensure our accounts reconcile, identifying discrepancies, and resolving them
- Supporting the wider Payments and Finance team with ad-hoc requests and projects
- Building and maintaining relationships with our third party vendors. Ensuring the service provided is to a high standard and making recommendations to improve and streamline processes and interactions
Application process
- Quick call with a Monzo Recruiter
- Video-call interview with the Hiring Manager (30 mins)
- Written Task (to be completed at home)
- Full-Loop Interviews (2 x video-interviews 45 - 60 mins)
- (Please make sure you answer the application questions)
- This process should take around 2-3 weeks
Salary benchmarks
Our take
Monzo is a challenger bank that fully operates online and offers a full range of current, savings, business accounts, and more. The speed of the challenger banks to provide a great experience has been impressive, and the number of competitors appearing has proven the consumer desire for innovation.
Monzo remains one of the popular online banks, with more than 6 million active users. The company faces competition from more traditional banks, such as Goldman Sachs and JP Morgan, which have launched their own digital banks. However, the new technologies that the company is built on enable it to expand quickly (with fewer issues) than the incumbent players' offerings.
With an increasing amount of people switching banks, the company's ever-expanding suite of banking and financial services (such as its buy-now-pay-later offering) has resulted in Monzo receiving the second-highest net switching gains among digital challenger banks (just behind Starling).
After setting U.S. expansion plans aside in 2020, the company launched in the U.S. market in early 2022, partnering with Sutton Bank to provide its U.S. accounts. After several years focused on narrowing its losses, Monzo hit profitability in the first two months of 2023. In the same year, 2 million new customers joined, tallying its customer base at 9 million in 2024.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (last 2 of 18 rounds)
May 2024
$190m
LATE VC
Mar 2024
$457.9m
LATE VC
Total funding: $1.9bn
Company benefits
- Yearly Salary Review + Proactive pay increases to reflect growing responsibilities + Share options
- Flexible working hours
- Work From Home Opportunities + we'll pay for any equipment you need to do your job
- 24 days holiday a year, plus bank holidays
- Paid sick leave for both physical & mental health + Health insurance via AXA or Vitality + Additional health insurance through Medicash
- Employee Assistance Programme
- Learning budget of £1,000 a year
- Aviva Pension Scheme + 4% Employer Contribution
- Paid maternity, paternity, adoption or shared parental leave (after 13 weeks of employment)
- 52 weeks of primary caregiver leave (6 months at 100% pay, 13 weeks at Statutory Maternity Pay, 13 weeks unpaid)
- 3 months of secondary caregiver leave at 100% pay
- Unum Life Insurance
- Access to fertility and family-forming health benefits via Fertifa
- Abellio Season Travel Tickets + Cycle-to-Work Scheme
Company HQ
City of London, London, UK
Leadership
TS Anil
(CEO)Also a Board Member at Accion. Previously Board Member at UK Finance, Global Head of Payments, Products & Platforms at Visa and was the Global Head of Retail Products at Standard Chartered Bank.
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