Financial Control Analyst, Monzo
£45-55k
Plus share options
Digital-only bank platform and marketplace
Be an early applicant
Digital-only bank platform and marketplace
1001+ employees
Be an early applicant
£45-55k
Plus share options
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- You’re qualified, or soon to qualify, accountant with an audit background, and ideally have had some experience in financial accounting and control outside of practice
- You have a great eye for detail
- You’re fascinated by the banking and regulatory landscape, and have a good understanding of key financial controls
- You’re a self-starter and enjoy tackling what needs doing, whether it’s making a bank transfer or pulling together reports for investors
- You’re comfortable translating complex information into simple words for people with diverse backgrounds
- You’re interested in using data (SQL skills would be a bonus)
- You thrive in a dynamic and constantly evolving environment
- What we’re doing at Monzo excites you!
What the job involves
- We're looking for a proactive, enthusiastic and commercially-minded accountant to work on our financial accounting, and help us build a world-class finance function. This role would be well suited to a qualified, or soon to qualify, accountant with an audit background
- We have some really exciting challenges coming up like systems implementation, expanding into the European Union, continuing to grow our customer base, keep growing our lending business and adding to our marketplace
- You’ll work on scaling Monzo in a controlled way, while helping us optimise our financial accounting processes with the help of technology. You’ll join the Finance team and report to our Financial Control Manager
- Manage a tight process with our internal Finance team to ensure a swift month-end close process (e.g. taking ownership of our leases, managing accruals schedules, inventory, treasury investments, etc) and group consolidation
- Understand the business and our products to write insightful management commentary
- Work with our engineers and data teams to automate the production elements of this role, allowing you to focus on the parts of the role where your knowledge and skills provide the most value
- Assist with the implementation of our new accounting system to make sure we are taking advantage of all its features to minimise manual elements of reporting
- Learn SQL skills to run reports and propose solutions that make our processes efficient and scalable
- Maintain existing and develop new controls that protect our financial data and our balance sheet substantiation process
- Support our year end process working with external auditors and our Financial Reporting squad
- Review new products, assessing the accounting and implementing them in our banking platform and accounting system
- Work with the business to assess the impact of changes in accounting standards and make proposals on accounting policy matters for new products launched
- Help maintain the integrity of our chart of accounts and financial static data
- Resolve miscellaneous inquiries and support the overall finance team wherever needed - from forecasting and valuations, to bank transfers, transfer pricing and tax policy research
Application process
- 🌈 The application journey has 4 key steps
- Phone call with recruiter (30mins)
- Video call with hiring manager (30 mins)
- Video interview with hiring manager and stakeholder (45 min)
- Behavioural interview finance team (45 min)
- Our average process takes around 3-4 weeks but we will always work around your availability. You will have the chance to speak to our recruitment team at various points during your process
- 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
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 customer active users. The company faces competition as more traditional banks, such as Goldman Sachs and JP Morgan, 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
Many candidates hear
back within 2 weeks
42% female employees
19% employee growth in 12 months
Company
Funding (last 2 of 18 rounds)
May 2024
$190m
LATE VC
Mar 2024
$446.1m
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 values
- Be hard on problems, not people 🙌 We create supportive communities to help people thrive.
- Make a difference 🚀 We solve real problems, working on things that have the biggest impact for our customers and each other.
- Help everyone belong 🤗 We’re building a bank for everyone. We embrace differences and make sure everyone feels welcome.
- Think customer first; grow Monzo safely 🥕 We always do what's best for customers. It's the right thing to do and the safest way to grow.
- Default to transparency 🎤 We’re open with each other and customers unless we have good reason not to be.
- Think big, start small, own it 🌲 We’re ambitious and shoot for the moon, working iteratively to get the best results.
Company HQ
City of London, London, UK
Articles
Leadership
Jonas Templestein
(CTO)Founder of HipDial. Former Software Engineer at Starling Bank.
People progressing
Joined in the Customer Operations team. Moved to be a Financial Crime Analyst after 5 months. Then moved again to be a Business Analyst after 2.5 years. Currently working as a Senior Product Manager.
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