Tax Manager, Monzo
£65-77.5k
+ Share Options
Digital-only bank platform and marketplace
Job no longer available
Digital-only bank platform and marketplace
1001+ employees
Job no longer available
£65-77.5k
+ 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 a qualified accountant and/or qualified tax advisor
- You have experience working in either Employment Tax, Global Mobility or Reward and are keen to broaden your knowledge and work across all three areas
- You’re comfortable working relatively autonomously
- You’re energetic and are hands-on with your work, tackling whatever needs doing to make things happen
- You have an eye for detail and enjoy working methodically through processes
- What we’re doing at Monzo excites you!
What the job involves
- We're looking for a hands-on, detail-oriented and proactive Employment Tax Manager to support the Tax team at Monzo, and our wider Finance team
- You’ll be joining our Tax Team and will be reporting into our Employment Tax Senior Manager
- You’ll be working across Employment Tax, Global Mobility and Reward matters, in the UK, US and Europe
- This role offers an exciting opportunity to manage a key area of our tax strategy and work closely with diverse teams across the business
- Assisting the business with employment tax advice on an adhoc basis. For example, you’ll advise on: (i) the operation of PAYE and NIC on payments, expenses and benefits provided to employees, (ii) the tax treatment of reward packages (including equity incentives), and (iii) tax issues related to global mobility
- Managing our employment tax reporting obligations, including our ERS reporting, STBV reporting, PAYE Settlement Agreement and Form P11D
- Owning our employment tax processes to ensure we’re fully compliant with our obligations, including IR35 and SAO
- Reviewing and improving internal processes and systems to ensure our tax obligations are met, as well as owning the design and implementation of new processes required by Monzo due to recent growth
- Staying current with tax laws, regulations, and case law affecting employment tax, global mobility and reward
- Collaborating with internal stakeholders, including the People team and Finance, to support business initiatives from a tax perspective
Application process
- 🌈 The application journey has 4 key steps:
- Phone call with Recruiter (30 mins)
- Initial video call with hiring manager (30 min)
- Technical video interview with hiring manager and stakeholder (45 min)
- Behavioural video interview with finance team (45 min)
- Our average process takes around 3-4 weeks but we will always work around your availability
- 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
$430.2m
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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