Finance Forecasting Modeller, Monzo
More information about location
1 day a week in office
Digital-only bank platform and marketplace
Be an early applicant
Digital-only bank platform and marketplace
1001+ employees
Be an early applicant
More information about location
1 day a week in office
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- You have a background in financial forecast modelling or execution
- You have strong analytical skills and a track record of using these to deliver technical projects
- You have a solid technical toolkit. SQL and Python are our desired coding languages but experience in SAS/R will be considered. A data visualisation tool (such as Streamlit or Looker) is a plus
- You can convey problems and solutions using clear and simple language, both written and verbal (see Monzo’s tone of voice guide). This is particularly important for communicating complex issues and priorities to non-experts
- You're impact driven and eager to have a real positive impact on the company, our products, our users and your team-mates
- You have a self-starter mindset; you proactively identify issues and opportunities and tackle them without being told to do so
- You're a team player whom your colleagues can rely on
What the job involves
- Our Capital, Impairments & Forecasting team (CIF) sits at the intersection of our Borrowing and Finance collectives, responsible for developing, executing and managing the models used to calculate IFRS 9 ECL, and credit risk capital through the annual ICAAP
- We work alongside our first line credit teams who design the products, decide who to lend to, set underwriting policy, identify customers who need help, manage the portfolio and report and measure credit risk
- Within CIF, we are scaling up our Forecasting modelling and execution team to support the enhancement of modelling standards across Finance
- The role holder will have the opportunity to lead a ‘consultancy style’ centre of excellence providing thought leadership on the methodological design and regulatory compliance assessment on all Financial forecasting models that feed the banks’ budgeting and stress-testing activities
- This will expand to hands-on delivery of model developments, where appropriate
- Strong data and analytical skills are a must, as is experience in financial modelling and coding (Python and SQL preferred)
- Experience working in regulatory stress testing exercises (such as ICAAP or EBA Stress-testing) is highly desirable but not essential
- We rely heavily on the following tools and technologies (note we do not expect applicants to have prior experience of all them):
- Google Cloud Platform for all of our analytics infrastructure
- Dbt and BigQuery SQL for our data modelling and warehousing
- Python for data science and predictive modelling and data visualisation (via streamlit)
- Anaplan for model implementation
- Github for version control
- Assist with continuous improvement of forecasting models via individual delivery or through others
- Development of best practices for financial modelling across Monzo
- Presenting forecast model results to senior management
- Close collaboration with portfolio strategy, model validation, finance and external audit teams
Application process
- Our interview process involves 4 main stages:
- Initial call with a member of the Forecasting team
- Technical modelling interview
- Values and collaboration behavioural interview
- A live case study problem solving interview
- Our average process takes around 3-4 weeks but we will always work around your availability
- If you have a preferred name, please use it to apply. We don't need full or birth names at application stage
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
$455.5m
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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