Director of Treasury and Capital, Monzo
+ 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
+ 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
- A Master’s degree (or equivalent) in Finance, Economics, Accounting, or a related field. Professional certification (e.g., CFA, FRM, etc) is highly desirable
- Extensive experience in treasury and capital management within a financial institution, with considerable experience in a leadership role. Experience with digital banking or fintech is a plus
- Detailed knowledge of international and European regulatory capital and liquidity requirements and financial risk management practices and experience in engaging with regulators
- Detailed knowledge and understanding of banking products and services and financial market instruments
- Excellent analytical, strategic thinking and problem-solving skills
- Excellent communication and presentation skills, with the ability to explain complex topics clearly and simply and influence and engage stakeholders at all levels
- Are comfortable having a hands-on approach in a startup environment with the ability to dive into tasks and take on responsibilities directly and deliver to tight deadlines
- The ideal candidate will have extensive experience in treasury and capital management within a financial institution, strong leadership skills, and the ability to thrive in a fast-paced digital banking environment
What the job involves
- We are looking for a dynamic Director of Treasury and Capital, to help build and lead the Treasury and Capital function for Monzo’s European entity
- You will be at the forefront of ensuring we grow and scale in a safe and compliant manner, whilst delivering a delightful experience for our customers
- You will report to the Chief Financial Officer, Monzo Europe, playing a critical role in Monzo’s overall effective and prudent risk management
- The Director of Treasury and Capital will be responsible for leading the treasury functions and capital management of Monzo in Europe
- This role involves managing liquidity, funding, interest rate risk, counterparty credit risk, capital adequacy risk and ensuring compliance with regulatory requirements in Europe
- Treasury Management:
- Developing and implementing treasury strategies, processes and systems to optimise liquidity, funding, and capital structure
- Overseeing cash flow management, ensuring sufficient liquidity to meet regulatory, operational and strategic needs
- Developing and managing the investment portfolio, including Counterparty Credit Risk, ensuring compliance with financial risk policies and risk appetite limits
- Monitoring and managing interest rate risk in the banking book (IRRBB) including any identification and execution of hedging strategies
- Leading the measurement and quantification of financial risks including scenario analysis and stress testing market and liquidity risks
- Developing and maintaining the Internal Liquidity Adequacy Assessment (ILAAP) process
- Developing and maintaining the Contingency Funding and Liquidity Plans
- Preparing and producing internal and external treasury and capital reports including analysis and explanation for key movements to key stakeholders
- Capital Management:
- Meeting prudential and regulatory capital requirements (e.g., Central Bank of Ireland/EBA/ECB regulations, upcoming CRR6/CRD3, etc.)
- Developing and maintaining the Internal Capital Adequacy Assessment (ICAAP) process
- Developing capital plans and forecasts, including stress testing and scenario analysis
- Optimising the capital structure and allocation to support growth and strategic objectives
- Preparing and presenting capital adequacy reports to senior management and regulatory authorities
- Preparing and maintaining the Recovery Plan and Solvent Wind Down Plan
- Financial Risk Management:
- Identifying, assessing, and mitigating financial risks related to treasury and capital activities
- Implementing risk management frameworks and policies to ensure robust control over treasury operations
- Working closely with the 2nd line risk management and compliance team to align treasury activities with the overall risk strategy and appetite
- Ensuring compliance with all relevant internal and external reporting requirements related to treasury and capital
Application process
- Phone call with recruiter (30mins)
- Video call with hiring manager (30 mins)
- Technical video interview with hiring manager and stakeholders (60 min)
- Leadership & behavioural interview with team (60 min)
- Final interview with CEO EU (30 mins)
- Our average process takes around 3-4 weeks but we will always work around your availability
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.
Salary benchmarks
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