Internal Audit Manager, Monzo
€66.3-80.7k
Offers share options
More information about location
Digital-only bank platform and marketplace
Be an early applicant
Digital-only bank platform and marketplace
1001+ employees
Be an early applicant
€66.3-80.7k
Offers share options
More information about location
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- You are a highly motivated self-starter, comfortable working autonomously and building something from the ground up in a fast-paced environment
- You have significant internal audit experience within the financial services industry (fintech or digital banking is a plus), with exposure to a wide range of risk areas (e.g., operational, financial, conduct, compliance)
- You have experience working within a group function or in a subsidiary environment, understanding the dynamics between group and local entity requirements
- You can demonstrate strong technical knowledge and application of relevant financial services regulations in Ireland and the EU, such as requirements from the Central Bank of Ireland (CBI) and the European Banking Authority (EBA), Consumer Protection, MiFID II, PSD2, and AML directives
- You have a strong understanding of the IIA Internal Audit Standards and are comfortable conducting end-to-end audits with a high degree of autonomy
- You can demonstrate a strong understanding of risk and control frameworks, control design, and various control testing approaches
- You have a proven ability to influence and challenge senior stakeholders effectively
- You are a strong team player and value inclusivity and diversity
- You hold a relevant qualification, e.g., CIA, ACA, ACCA, or CISA
What the job involves
- Internal Audit is Monzo’s Third Line of Defence (3LOD), and we’re here to help Monzo grow safely. As we expand our European operations from our new hub in Dublin, we're looking for our first Internal Audit hire on the ground to support the Head of Audit - EU as we establish the function
- This is a unique opportunity for an experienced Internal Audit Manager to help build and shape the audit presence in our EU entity. You will report to the Head of Audit - EU and provide the Board and Executive Management with independent and objective assurance on the adequacy and functioning of the system of internal controls
- Supporting the Head of Audit - EU by delivering the internal audit activities for our new EU entity in Dublin, providing independent assurance over a broad range of risks including operational, financial crime, conduct and other regulatory risks
- Acting as the key liaison between the Dublin-based business and the Group Internal Audit function
- Completing the end-to-end audit process, ensuring the audit universe for the EU entity is accurate and supporting the delivery of the annual group audit plan in line with our internal audit methodology for EU Audits
- Supporting the Group Audit team in delivering coverage of EU specific controls/processes as part of Group Audits
- Forming an independent view of whether key risks to the organisation have been identified, including emerging and systemic risks, and assessing how effectively these risks are being managed
- Delivering clear, insightful, and pragmatic audit reports, ensuring factual accuracy and managing communications with senior stakeholders in Ireland and across the Group
- Building and maintaining strong relationships with 1st line and 2nd line stakeholders
- Performing continuous business monitoring of the EU entity, keeping the Group Audit team updated with current developments and emerging risks
- Maintaining a strong awareness of the Irish and EU regulatory landscape, emerging risks, and industry best practices
- Driving continuous improvement in our audit processes and contributing to the delivery of the team's strategic goals
Application process
- The application journey has 4 key steps
- 30 min call with the Recruiter
- 30 min call with the Hiring Manager
- 2 x 1 hour technical and behavioural interviews
- 30 min final call with our CIA
- This process should take around 2-3 weeks - your schedule is really important to us, so we promise to be as flexible as possible!
- You’ll hear from us throughout the application process, but if you’ve got any questions, please reach out
- We’ll only close this role once we have enough applications for the next stage. Please submit your application as soon as possible to make sure you don’t miss out
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
$458.1m
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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