Head of Costs

We’re on a mission to make money work for everyone. We’re waving goodbye to the complicated and confusing ways of traditional banking. After starting as a prepaid card, our product offering has grown a lot in the last 10 years in the UK. As well as personal and business bank accounts, we offer joint accounts, accounts for 16-17 year olds, a free kids account and credit cards in the UK, with more exciting things to come beyond. Our UK customers can also save, invest and combine their pensions with us. With our hot coral cards and get-paid-early feature, combined with financial education on social media and our award-winning customer service, we have a long history of creating magical moments for our customers! We’re not about selling products - we want to solve problems and change lives through Monzo.

About the role

We’re looking for a Group Head of Cost Efficiency who will be responsible for understanding, reporting and analysis of costs, delivery of cost targets across the Group and specific management of supplier relationships and contract terms in line with Group efficiency objectives. The goal is not cost-cutting - rather it is about taking an analytical approach to ensuring that we select the best possible suppliers to deliver against the needs of our hypergrowth business, and achieve the best cost/benefit for the services and products that we procure. This person will sit on the Group Finance Leadership Team.

You’ll play a key role by:

• Building out and leading a finance business partnering team to collaborate closely with the non-revenue functions (Operations, Technology, People etc.) and their leaders (COO, CTO, CPO/CHRO), delivering jointly on efficiency initiatives.
• Delivering financial modelling capabilities combined with commercial acumen to support key supplier negotiations.
• Working with Data and Transformation teams to deliver scalable infrastructure, business analytics and data visualisation capabilities for cost measurement, allocation, analysis, budgeting and forecasting.
• Rolling out Group-wide cost performance reporting and routines, dashboards and scenario-planning tools.
• Establishing key efficiency metrics for the Group and targets for the short / medium and long-term and build efficiency plans jointly with business owners to reach Group objectives against such metrics.
• Collaborating with FP&A to understand and explain cost performance and variances to plan as part of overall performance tracking.

We’d love to hear from you if you have:

• Highly analytical and deep financial experience.
• Experience of establishing and running cost efficiency processes across large organisations.
• Experience of selecting and implementing new systems to deliver financial modelling, analytics, visualisation and operational workflows.
• Ability to influence and build deep relationships at a senior level.
• Ability to bring constructive challenge to senior stakeholders.
• Passion for team leadership and experience managing teams.
• A customer-centric and product-centric mindset.
• A values-driven leadership.
• Knowledge of retail banking products and pricing is a plus.
• Knowledge of cloud computing costs is a plus.

What’s in it for you

Competitive salary and share options. This role is based in our London office. We're open to distributed working within the UK (with the expectation of occasional work from our London office, for key meetings). We offer flexible working hours and trust you to work enough hours to do your job well, and at times that suit you and your team. £1,000 learning budget each year to use on books, training courses and conferences. We will set you up to work from home; all employees are given Macbooks and for fully remote workers we will provide extra support for your work-from-home setup. Plus lots more!

The application journey has 4 key steps:

• Phone call with recruiter (30mins)
• Video interview with Senior Finance team (45 mins)
• Technical case study video interview with senior finance leaders and stakeholder (60 mins)
• Video interview with Leadership team from a business area (60 mins)

Our average process takes around 3-4 weeks but we will always work around your availability. You will have the chance to speak to our recruitment team at various points during your process but if you do have any specific questions ahead of this please contact us. 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.

Equal opportunities for everyone

Diversity and inclusion are a priority for us and we’re making sure we have lots of support for all of our people to grow at Monzo. At Monzo, we’re embracing diversity by 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.

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. If you have a preferred name, please use it to apply. We don't need full or birth names at application stage.