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Financial Control Manager



Accounting & Finance
Cardiff, UK
Posted on Tuesday, January 30, 2024

📍Cardiff | 💰 £75,000 depending on experience + Benefits | Hear from the team

About us:

We’re here to make money work for everyone and we're doing things differently. For too long, banking has been obtuse, complex and opaque.

We want to change that and build a bank with everyone, for everyone. Our amazing community suggests features, test the app and give us constant feedback so we can build something everyone loves.

We're focused on solving problems, rather than selling financial products. We want to make the world a better place and change people's lives through Monzo.

About our Financial Control Team:

Our team sits within Monzo’s Finance collective and our job is getting the numbers right. We’re currently a team of five qualified accountants split between our Cardiff and London offices and we ensure the ledger’s correct at every month-end. We work closely with all areas of Finance and the product teams to make that happen.

What you’ll be working on:

You’ll be managing a team of four Monzonauts day-to-day to make sure our month-end reporting process runs smoothly and accurately. That will involve reviewing the team’s detailed analysis, approving journals, maintaining and adding to our controls, explaining our results to our Financial Reporting team and acting as a key contact for the rest of Finance into the team.

We have some really exciting challenges coming up like our new ledger implementation, launching our pensions business, growing our derivative and treasury portfolio, expanding into the European Union, climate change reporting, continuing to grow our customer base, 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 control processes with the help of technology. You’ll report to our head of Financial Control.

Your day-to-day

  • Support the team with their tasks and career development
  • Manage a tight process with our internal finance team to ensure a swift and accurate month-end financial close
  • Understand the business and our products to write insightful management commentary and challenge where needed to make sure we grow safely and efficiently.
  • Work with our engineers and data teams to automate the production elements of the team’s role, allowing your team to focus on the parts of the role where their knowledge and skills provide the most value.
  • Understand our existing and new accounting systems and make sure we are taking advantage of all features we can to minimise manual elements of reporting as well as helping us make a smooth change to our new ledger.
  • Be responsible for ensuring our financial reporting policies, procedures and controls are up to date, relevant and useful for Monzo and importantly are scalable.
  • Work with 2LoD and 3LoD to develop a robust control environment.
  • Support the full year end process, from helping the Financial Reporting team draft the annual report to working with external auditors until final sign-off.
  • 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.
  • Work closely with our Treasury team and Product Controller as we build out our range of products and hedging capabilities.
  • Review and assess the accounting impact of new contracts, working closely with the business and Legal before contracts are signed to establish the correct accounting treatment.
  • Resolve miscellaneous inquiries and supporting the overall finance team wherever needed - from forecasting and valuations, to bank transfers and tax policy research

You should apply if:

  • you’re a qualified accountant, and have had several years’ experience managing financial reporting/controlling teams and working in a retail banking environment
  • 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 management or 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!

The interview process:

Our interview process involves 4 main stages:

  • Call with a recruiter
  • Initial discussion with the hiring manager to give you more details on the role and find out about your experience
  • Stakeholder interview with some Monzonauts from outside of your new team concentrating on the competencies you’ll need at Monzo - 45mins
  • Technical interview with your hiring manager and their manager exploring the details of the role - 45mins
  • Final interview with our People team

What’s in it for you:

💰£75,000 ➕ plus stock options & benefits

📍This role is based in our Cardiff office and we’d like you to be able to visit one or two times a week

⏰ We offer flexible working hours and trust you to work enough hours to do your job well, at times that suit you and your team.

📚 Learning budget of £1,000 a year for books, training courses and conferences

➕ And much more, see our full list of benefits here

If you prefer to work part-time, we'll make this happen whenever we can - whether this is to help you meet other commitments or strike a great work-life balance.

Linkedin Tags: Personal &/Or Remote

Equal Opportunity Statement

We are actively creating an equitable environment for every Monzonaut to thrive.

Diversity and inclusion are a priority for us and we are making sure we have lots of support for all of our people to grow at Monzo. At Monzo, embracing diversity in all of its forms and fostering an inclusive environment for all people to do the best work of their lives with us. This is integral to our mission of making money work for everyone. You can read more in our blog, 2022 Diversity and Inclusion Report and 2022 Gender Pay Gap Report.

We’re an equal opportunity employer. All applicants will be considered for employment without attention to age, ethnicity, religion, sex, sexual orientation, gender identity, family or parental status, national origin, or veteran, neurodiversity or disability status.