Internal Audit Manager, Professional Practices & Board Reporting Full Time

“Previously Startups of London has featured Monzo in our article The Complete List of Unicorn Startups in the UK 2022.

You can also click on the company name above or go to their company page from here and learn more about their culture, business and management.

As for the role; Monzo is looking for an Internal Audit Manager, Professional Practices & Board Reporting to join their company. Learn more about the role, requirements as well as benefits in the below description. Click on the Apply Now button to complete job application.”

– Startup of London Team

The Role

Internal Audit is Monzo’s “Third Line of Defence” (3LoD). Internal Audit provides Monzo’s Board and Executive Management with independent and objective assurance on the adequacy and functioning of the system of internal control. The scope of internal audit covers all activities at Monzo, all areas of current and future risks within Monzo, and an assessment of risk management and mitigation controls in Monzo’s current and expected business environment.

You’ll be responsible for:

Professional Practices

• Maintaining the Internal Audit Methodology and ensuring it conforms with the International Professional Practices Framework (IPPF) and IIA Standards, and the Financial Services Code.
• Ensuring Internal Audit is adhering consistently to best practice assurance standards in fulfilling a risk based audit methodology.
• Managing and documenting Internal Audit/CIA annual attestations for the Board Audit Committee (BAC).
• Conducting Quality Assurance reviews of completed audits, audits in progress and/or thematic methodology topics.
• Evaluating Internal Audit’s performance against internal policies and procedures, the IIA Standards and industry best practices.
• Delivering high-quality written and verbal communication to colleagues on QA results and actions. Following up on remediation work, when and as required.
• Managing the QA testing templates, assessment records and reporting.
• Validating Internal Audit’s performance against regulatory requirements and commitments.
• Developing and delivering technical training for the audit team, as needed.
• Discussing QA observations with the Internal Audit team and the CIA and providing guidance covering all aspects of internal audit assurance activity.
• Working with the audit team to understand blockers and providing advice on methodology, audit risk, and regulators’ expectations of the Internal Audit functions.

Management Information

• Owning Board Audit Committee (BAC) reporting by providing complete, accurate and timely information to the CIA.
• Creation, management and presentation of general audit Management Information regularly and on an ad-hoc basis on demand;
• Contributing to improving processes in MI and reporting.

You should apply if you

• Are a qualified internal auditor with strong analytical and communication skills, and have extensive knowledge of internal auditing practices and standards, i.e. good understanding of the Institute of Internal Audit Standards.
• Have prior internal or external audit experience, gained in one of the Big 4 or an internal audit department of a Financial Services institution.
• Have a track record of identifying, assessing and evaluating risks and controls, while also understanding the commercial view.
• Are a self-starter and can approach situations with a level of flexibility that allows you to adapt to a fast paced environment.
• Work independently with good organisation, problem solving skills and strong attention to detail.
• Can demonstrate excellent verbal and written communication skills, as well as demonstrating a collaborative approach with a wide range of stakeholders.
• Are a strong team player who helps colleagues to achieve team goals, and have experience working in a culturally diverse work environment.

The Interview Process:

Our interview process involves 4 main stages: 

1. Recruiter Call
2. Initial Call with our Chief Internal Auditor
3. Role specific interview
4. Finance & Values interview

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 on core-hiring@monzo.com

What’s in it for you:

Circa £75k base salary➕ plus stock options

This role can be based in our London office, but we’re open to distributed working within the UK (with ad hoc meetings in London).

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

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.