Finance Internal Controls Analyst, Monzo
£42.5-57.5k
+ share options
Digital-only bank platform and marketplace
Be an early applicant
Digital-only bank platform and marketplace
1001+ employees
Be an early applicant
£42.5-57.5k
+ share options
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 a highly proactive, enthusiastic Finance Internal Controls Analyst
- You’re a qualified accountant with post-qualified experience working in internal controls, preferable in financial services or related industries, including Big 4 or similar
- You have Internal controls/internal audit/SOX 404 technical background (knowledge of SAP and or Blackline a bonus!)
- You have a great eye for detail and you are a problem solver
- You enjoy working with different people, cultures and opinions
- You’re fascinated by the banking and control landscape and have a good understanding of key financial controls
- You’re interested in using data and programming (Looker, SQL, Big Query, Dashboards skills would be a bonus)
- You’re a self-starter and enjoy tackling what needs doing
- You’re a strong communicator who is able to translate complex technical information into something that is easy for all audiences to understand
- You thrive in a dynamic and constantly evolving environment
- What we’re doing at Monzo excites you!
What the job involves
- We have some exciting initiatives ahead, including supporting Monzo in ensuring that its controls and processes remain robust and well-maintained, driving control analytics and root cause analysis, helping recommend process improvements to the Bank and working cross collectively to really add value to the internal controls framework
- You’ll work on helping monitor and improve controls, perform process walkthroughs, support internal and external audits on controls validation and help design effective controls performance reporting
- You’ll join the Finance team and report to our Senior Internal Controls Manager
- Providing guidance and managing key financial controls across Monzo, delivering valuable insights and improvements
- Enhancing and maintaining Finance’s internal control framework
- Supporting control remediation projects and provide expertise where required
- Partnering with engineers to automate or enhance recurring processes, as well as providing advice on control automation opportunities
- Coordinating reporting to management and senior stakeholders on the effectiveness of the financial control framework
- Providing guidance and support to the business in demonstrating that the appropriate control environment is in place, particularly with ERP changes and EU expansion
- Performing deep dives and reviews to evaluate and improve Monzo’s first-line financial control environment, ensuring readiness for strategic initiatives like EU expansion
- Working closely with our first and second lines of defence to enhance Monzo’s risk, controls and governance frameworks
- Supporting the overall finance team wherever needed - from drafting action plans for control gaps to drafting finance policies and manuals
- Providing finance training and development to both non finance and finance professionals
Application process
- Recruiter Call
- Initial Interview with the Hiring Manager
- 2 Stage formal interview loop including a Role Specific Round and Behavioural Round
- This process should take around 2-3 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).
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
$464m
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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