Head of Accounting Policy, Monzo
CA$106.3-125k
+ Incentive Awards tied to your performance
Digital-only bank platform and marketplace
Open for applications
Digital-only bank platform and marketplace
1001+ employees
Open for applications
CA$106.3-125k
+ Incentive Awards tied to your performance
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- We’re looking for someone with significant experience in an accounting policy, technical accounting role, ideally from a banking background
- You'll thrive in a fast-paced, ever-evolving environment and have a hands on, delivery focused mindset, supporting Monzo’s mission to make money work for everyone
- Experience: Fully qualified accountant (ACA, ACCA, or CPA) with 5+ years of experience in accounting policy, technical accounting, or Big 4 accounting advisory
- Technical Skills: Strong, hands-on knowledge of IFRS particularly in specialised areas like IFRS 9
- Banking Background (preferred): Proven track record within a banking institution or a Big 4 banking/financial services advisory practice
- Collaborative Leadership: Demonstrated experience in managing workloads across a team, utilising external skill sets rather than working in a silo
- Stakeholder Management: Ability to facilitate technical debate and drive alignment among senior leaders and cross-functional teams
- Communication: Strong capability to communicate technical standards into clear, professional, and practical guidance for non-finance stakeholders
- Resource Optimisation: Sharp prioritisation and organisational skills to effectively triage proposals and maximize the existing capabilities of the wider team, while also developing those skills further
- Adaptability and resilience: Demonstrable ability to be resilient and flexible in a fast-paced, tech-led, and agile environment
What the job involves
- Monzo is looking for an experienced and ambitious professional for a newly created, high impact Head of Accounting Policy role
- This role is designed to establish and lead our technical accounting policy function for our Group, UK and EU regulated entities
- Rooted in the banking sector, the successful candidate will sit at the intersection of finance and commercial growth
- You will act as the primary technical interface for the business, assessing new commercial proposals, leading technical accounting fora, and strategically triaging work across the wider finance team to utilise the existing technical capability of the team as well as lead in developing those skills further
- This is a key role with real impact, working closely with the Group Financial Controller, UK and EU CFOs to deliver high-quality external reporting, and technical accounting and advisory in support of our fast-growing, tech-driven bank
- Providing expert advice on complex accounting issues (e.g., revenue recognition, leasing, financial instruments) and document conclusions in technical memos
- Developing and maintaining global accounting policies, ensuring consistency across the organisation and compliance with updated standards (IFRS)
- Leading projects for the adoption of new accounting standards
- Partnering with commercial and product teams to evaluate the accounting implications of new products, lending propositions, and complex transactions prior to launch
- Managing the intake of technical queries, strategically triaging and delegating project components to utilise existing and develop the technical skills within the wider finance team
- Establishing, coordinating, and chairing an internal technical accounting forum to debate, align, and secure sign-off on areas of accounting estimates and judgments, as well as new policy/standards
- Acting as the dedicated technical accounting partner to the business, translating complex technical standards into actionable business advice
- Leading the technical dialogue with external auditors, authoring robust accounting papers to justify and defend the Monzo’s reported positions
- Building and maintaining effective working relationships with internal stakeholders, external auditors and advisors
Application process
- Phone call with the Recruiter (30 mins)
- Initial Video interview with Hiring Manager (30 mins)
- Role specific interview with Financial Control team (60 mins)
- Behavioural interview with wider Finance members (45 mins)
- This process should take around 3-4 weeks - your schedule is really important to us, so we promise to be as flexible as possible!
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).
The company launched in the US market in early 2022, partnering with Sutton Bank to provide accounts there. After several years focused on narrowing its losses, Monzo hit profitability in the first two months of 2023. It is now moving forward with an IPO, targeting a £6-7 billion valuation
Kirsty
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (last 2 of 18 rounds)
May 2024
$190m
LATE VC
Mar 2024
$456.1m
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
(Vice Chair)Previous ly CEO of the company. 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.
Share this job
View 53 more jobs at Monzo