We’re looking for an experienced, commercially aware Reward and Recognition Leader who will drive the reward strategy across Monzo. In order to attract, retain, engage and motivate our incredible workforce. We need a Reward and Recognition programme that makes us attractive to the best talent throughout the world whilst remaining consistent with our values and culture.
We’re looking for someone who is knowledgeable, thinks critically, and is able to be a strategic partner to the business. It’s important that you can work closely with and get buy-in from our board and senior executives as well as gaining company wide support and engagement. You will be someone who is receptive to feedback and will be constantly striving to define and improve what world class Reward and Recognition looks like at Monzo.
You will be pivotal in helping us make Monzo the place where everyone can do their best work and have an enriching people experience.
Our internal community is core to achieving our mission of making money work for everyone and we want to make sure we can build on the work we have done so far in Reward and Recognition to have a strategy that is aligned with our huge growth and international ambitions. We want to be competitive and able to meet the needs of our growing diverse workforce who have varied roles, requirements and motivations. We have over 700 people spread mostly across the UK but increasingly internationally too.
You will be working within the People Collective, operating as the business expert in all matters relating to global compensation, share and options schemes, benefits, pensions, rewards policies and remuneration practices to name but a few. We’ll need your expertise to review our current initiatives, re-design where appropriate and ensure we’re set up for international growth and an internal community that's in the thousands.
So what in the world of Monzo will I be doing?
- Designing, developing and delivering a compelling Reward and Recognition strategy that is aligned with our business and people strategy and supports our current Monzonauts and our future growth and development plans
- Develop and own the reward principles and guardrails to increase transparency on how we go about ‘reward’ at Monzo
- Manage and lead a small reward team to ensure that Reward and Recognition policies and practices reinforce the values and behaviours we expect from our team members, deliver employee engagement and be liaising with our finance and legal team to make sure were always being compliant and fair
- Manage payroll across the business (including international payrolls)
- Undertake regular benchmarking and market related pay research, to ensure we’re able to remain competitive and an employer of choice
- Along with our Chief People Officer, manage the company’s Reward Calibration Committee (CalCo) and Remuneration Committee (RemCo)
- Manage the Monzo Options scheme - strategy and administration (pre and post IPO experience in this area would be a bonus)
- Report on Monzo’s gender pay, influence and own positive change around the business. Ensure all aspects of Reward are focused on diversity and inclusiveness to ensure accessibility and equality of approach to all of our wonderful Monzonauts
- Increase awareness, understanding and appreciation of the value of the total reward package that consists of base pay, options, benefits, work/life balance programs, recognition, performance management/career development, and additional benefits.
You should apply if:
- You’re a strategic thinker, and are able to get stuck into the various projects to ensure delivery in an efficient and effective way
- You have modelling experience, can make recommendations of Reward systems, tools, and methodologies that can streamline processes
- You’ve worked in an organisation that has scaled and understand the complexities & challenges related to this. You’ve managed global mobility and created international assignment policies, pensions and payrolls
- You have experience in shares and option schemes, and what this means when a company IPO’s
- You’re experienced in reward benchmarking and evaluation methods
- You’re able to confidently use data and analytics to assist managers, senior stakeholders and the board in strategic business decision making
- You have a proven record of shaping strategies that have resulted in measurable and commercially relevant successes
- You're a strong communicator with progressive ideas in Reward strategies.
It would be a bonus if:
- You’ve worked in a progressive Tech business previously
- Have worked within banking or financial services previously so understand the various requirements with regards to remuneration rules and regulations
- You’ve experienced an IPO and understand how this shapes rewards and recognition and have managed this.
The application process consists of a short phone interview, followed by a couple of on-site interviews at our office in London.
We care deeply about inclusive working practices and diverse teams. If you’d prefer to work part-time or as a job-share, we’ll facilitate this wherever we can - whether to help you meet other commitments or to help you strike a great work-life balance.
We’re keen to make sure we’re designing a bank that works for everyone, so we particularly encourage applications from different underrepresented demographics.