Senior Accounting & Financial Operations Analyst

📋 Description

• • **Join Monzo US: Shape the Future of Digital Banking**
• • Monzo is on a mission to revolutionize banking by making money work for everyone, moving away from the complex and often confusing traditional banking models. Having started as a prepaid card, we've evolved into a beloved digital bank in the UK, serving millions of customers with a comprehensive suite of personal and business accounts, joint accounts, accounts for younger individuals, and credit cards. Our growth in the UK, marked by innovative features like our iconic hot coral cards and early access to funds, coupled with a strong focus on financial education and award-winning customer service, has consistently created positive and 'magical' experiences for our users. We are not just selling products; we are solving problems and aiming to positively impact people's lives through Monzo.
• • Now, we are bringing this same passion, innovation, and customer-centric approach to the United States. Our US team is dedicated to building digital banking solutions that empower individuals to grow their money in ways that truly suit their lives. This includes offering features like personalized cashback rewards, high-yield savings accounts with transparent terms, and intelligent budgeting tools designed for simplicity and effectiveness. Every product we develop is intended to support and uplift our customers, rather than create obstacles.
• • What truly distinguishes Monzo is not just our cutting-edge product, but our exceptional team. We are a collective of builders, innovators, and forward-thinkers, united by a core belief that financial services should be fair, transparent, and empowering. We are deeply committed to our work and the tangible impact it has on individuals' financial well-being. If you are driven to make a meaningful difference and contribute to building a bank that celebrates and rewards individuality, we invite you to join us on this exciting journey of growth.
• • *About Monzo Group:**
• • Monzo Group is a premier financial technology company with a significant presence in the UK, boasting over 13 million customers. We are committed to delivering modern, user-friendly banking solutions. Our banking app has garnered immense popularity, evidenced by exceptionally high daily engagement rates, leading Net Promoter Scores within the industry, and acclaimed customer support. Our growth trajectory is supported by substantial investment, having raised over $1 billion from prominent investors including Capital G (Google's growth fund), Ribbit Capital, TenCent, YCombinator, Stripe, and Coatue, with our latest valuation reaching $5.9 billion in 2024.
• • In the US, we are in the nascent stages of building our presence, operating with the agility of an early-stage startup while leveraging the robust financial, operational, and engineering infrastructure of a larger, established company. Our focus is on developing a standout US product, iterating rapidly, and solidifying our product-market fit. We are actively seeking highly motivated and entrepreneurial individuals to help us achieve our mission of making money work effectively for everyone.
• • *The Role: Senior Accounting & Financial Operations Analyst - Monzo US**
• • We are seeking an experienced and commercially astute Senior Accountant to spearhead our US financial accounting operations and play a pivotal role in establishing a world-class finance organization. This position is ideal for a qualified accountant with a strong technical accounting foundation, eager to assume ownership of core accounting processes and collaborate closely with business stakeholders as we scale. You will be instrumental in ensuring the delivery of high-quality financial reporting and maintaining robust internal controls, while actively contributing to the enhancement of our accounting processes and systems to support our rapid growth.
• • Your responsibilities will encompass navigating complex accounting inquiries, supporting the successful launch of new products, overseeing supplier and financial operations, and contributing to the ongoing development of our integrated global finance infrastructure. With an ambitious roadmap ahead, including continued expansion of our US business, potential entry into the European Union, the introduction of new products and marketplace features, and significant system implementations, your role will be crucial in ensuring controlled and well-governed scaling. You will leverage technology and automation to drive efficiency and enhance insights across all financial accounting functions.
• • *Key Responsibilities:**
• • **Month-End Close Management:** Lead and manage a streamlined month-end close process in collaboration with the internal Finance team, ensuring timely and accurate completion of tasks such as managing accrual schedules, overseeing bank accounts and supplier payments, and integrating data from our Tax team.
• • **Business & Product Insight:** Develop a deep understanding of Monzo's business operations and product offerings to produce insightful management commentary that reflects financial performance and operational drivers.
• • **Automation & Efficiency:** Partner with engineering and data teams to automate key reporting elements, freeing up your time to focus on higher-value activities that leverage your expertise and analytical skills.
• • **US GAAP vs. IFRS:** Analyze and articulate differences between US Generally Accepted Accounting Principles (US GAAP) and International Financial Reporting Standards (IFRS) as they apply to Monzo's operations.
• • **Data Analysis & Process Improvement:** Acquire and utilize SQL skills to extract data, generate reports, and propose innovative solutions that enhance process efficiency and scalability.
• • **Internal Controls:** Maintain and develop robust internal controls to safeguard financial data integrity and ensure the accuracy and substantiation of our balance sheet.
• • **Audit Support:** Facilitate the year-end audit process by working closely with external auditors and our dedicated Financial Reporting squad.
• • **New Product Accounting:** Review and assess the accounting implications of new products, implement necessary accounting treatments within our banking platform and accounting system, and advise on accounting policies for new product launches.
• • **Chart of Accounts Maintenance:** Ensure the integrity and accuracy of our chart of accounts and financial static data.
• • **Supplier Payments:** Assist with payment runs for our expanding network of suppliers, coordinating closely with our UK Financial Operations team.
• • **Tax Support:** Contribute to US tax-related activities, liaising with external tax advisors and our Group Tax team.
• • **Ad-Hoc Support:** Address miscellaneous financial inquiries and provide comprehensive support to the broader finance team, encompassing forecasting, valuations, bank transfers, transfer pricing, and tax policy research.
• • This role offers a unique opportunity to significantly influence the financial infrastructure of a rapidly growing fintech company, working with a passionate team dedicated to making a real difference in the financial lives of our customers.