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Full-Time

Financial Control Analyst

Confirmed live in the last 24 hours

Monzo

Monzo

1,001-5,000 employees

Digital-only banking platform for consumers

Fintech
Financial Services

Compensation Overview

$45k - $55kAnnually

Entry, Junior

Cardiff, UK

Role is based in Cardiff or London office.

Category
Financial Accounting
Financial Controller
Management Accounting
Accounting
Required Skills
SQL
Requirements
  • 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
Responsibilities
  • 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

Monzo operates as a digital-only banking platform that focuses on providing a modern and convenient way for individuals to manage their finances. Its main product is a mobile app that allows users to track their income, spending, and savings easily. The app includes features that help users save money, such as automatically setting aside a portion of their paycheck or rounding up payments to the nearest dollar. Monzo generates revenue through interest on customer deposits, fees for certain services, and interchange fees from card transactions. Additionally, it offers overdrafts and personal loans as part of its services. What sets Monzo apart from traditional banks is its real-time balance updates and instant spending notifications, which help users stay informed about their finances. With over 8 million customers, Monzo aims to meet the growing demand for accessible and mobile-first banking solutions.

Company Stage

Series I

Total Funding

$1.5B

Headquarters

London, United Kingdom

Founded

2015

Growth & Insights
Headcount

6 month growth

10%

1 year growth

28%

2 year growth

60%
Simplify Jobs

Simplify's Take

What believers are saying

  • Monzo's rapid customer growth, with over 8 million users, indicates strong market demand and potential for further expansion.
  • The launch of fee-free accounts for children under 16 could attract a new generation of loyal customers and foster long-term brand loyalty.
  • Innovative security features enhance customer trust and could reduce fraud-related losses, improving overall customer satisfaction.

What critics are saying

  • The competitive fintech landscape requires continuous innovation to maintain differentiation and avoid losing market share to other digital banks.
  • Regulatory changes affecting fees and interchange rates could impact Monzo's revenue model, necessitating adjustments to maintain profitability.

What makes Monzo unique

  • Monzo's digital-only banking platform offers a user-friendly mobile app with real-time balance updates and instant spending notifications, setting it apart from traditional banks.
  • The introduction of Monzo for Under 16s demonstrates a commitment to financial literacy and early financial education, a niche not widely addressed by competitors.
  • Monzo's trio of industry-first security controls, including Known Locations, Trusted Contacts, and Secret QR codes, provides enhanced fraud protection that is unique in the digital banking sector.

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Benefits

Competitive salary

Flexible working hours

Work from home

Stock options

32 days of paid vacation and public holidays per year

Health insurance

EAP

Learning budget

Home office stipend

Paid parental leave