Reward Analyst

Monzo Bank; London; Remote; GBP 40,000 - 70,000; Full time

Job summary

Join a forward-thinking company as a Reward Analyst, where you'll play a pivotal role in enhancing the reward and recognition functions. This exciting position involves day-to-day operations in compensation management, focusing on pay reviews and benchmarking processes. You will collaborate with a passionate team to ensure equitable and engaging reward practices for all employees. With a flexible working environment and a commitment to diversity, this role offers a unique opportunity to make a significant impact while growing your career in the dynamic banking sector. If you're resourceful and proactive, we want to hear from you!

Benefits

Flexible Working Hours

£1,000 Learning Budget

MacBook Provided

Work-from-Home Setup Support

Qualifications

• Experience in managing pay review cycles and benchmarking processes.
• Strong analytical skills to support senior leadership decisions.

Responsibilities

• Facilitate reporting requirements from pay review cycles.
• Support annual benchmarking process and regulatory reporting.

Skills

Excel

Google Sheets

Data Analysis

Problem Solving

Communication

Education

Bachelor's Degree

Tools

Compensation Planning Tool

Job description

Join to apply for the Reward Analyst role at Monzo Bank

Join to apply for the Reward Analyst role at Monzo Bank

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 ️

Hear from our UK team about what it's like working at Monzo

London/UK Remote | Benefits | Hear from the team

Our Reward team

We're looking for a proactive, organised and conscientious Reward Analyst to join the Reward Squad within our People Collective to help us work at scale while maintaining a people focused business and excellent culture.

The People Collective is looking for someone who is passionate about supporting a Reward and Recognition function that is engaging, scalable and most importantly equitable. We are looking for someone who enjoys dotting the i’s and crossing the t’s but never loses sight of the fact that at the start of all those numbers are our people.

The Reward squad covers everything from pay review cycles, benchmarking analysis to pension and everything in between. We’re on a mission to help Monzo find unique ways to reward and recognise Monzonauts.

You’ll play a key role by…

You will fulfil the day to day operations of the Compensation Team, focusing primarily on our pay review cycle, benchmarking process which all lead to managing our stakeholder requirements as well as wider compensation activities. You'll use your initiative to determine what areas and processes can be improved, working with members of the People Collective and wider reward team to make sure we are doing what’s best for our Monzonauts.

Pay Review Cycle

Each day will be different, and you'll learn a lot about the inner operations of how a Reward squad works. You’ll help specifically within the Compensation Team on:

• Facilitating the overall reporting requirements resulting from our pay review cycles
• Supporting the management of our pay review cycles via our compensation planning tool pre, during and post pay review cycles
  
  

Benchmarking Cycle

• Supporting the annual benchmarking process which includes the preparation of various downstream reporting, submissions and analysis against current pay frameworks
• Other:
• Collating and analysing data to support senior leadership decisions, including input into Remuneration Committee support documents.
• Managing any required Regulatory Reporting resulting from the compensation processes as well as carry out any enhancements due to regulatory changes.
• Supporting the creation of routine and ad hoc reports compensation management information.
• Collaborating with the wider reward squad on the ins and outs of our pay review cycle and benchmarking processes.
  
  

We’d love to hear from you if…

• you're a resourceful problem solver who is cool in a crisis
• you have excellent excel / google sheet knowledge
• you prioritise high impact work, but never neglect the details
• you're independent, proactive, comfortable making decisions, and a great communicator
• helping people makes you happy
• ideally you’ll have some experience designing dynamic reporting requirements, developing reporting databases and designing and maintaining reward analytics
  
  

Not ticking every box? That’s totally okay! Studies show that women and people of colour might hesitate to apply unless they meet every single requirement. At Monzo, we’re dedicated to creating a diverse and welcoming team. If you’re passionate about this role and keen to learn and grow with us, we encourage you to apply— even if you don’t have everything that's listed just yet. Drop us your application, we’d love to hear from you!

What’s In It For You

We’re flexible on the base salary, depending on experience stock options

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! Read our full list of benefits.

The Application Journey Has 3 Key Steps

• Intro call with the recruiting team
• First stage interview with the hiring manager
• A loop interview with members of the team and key stakeholders
  
  

This process should take around 2-3 weeks - your schedule is really important to us, so we promise to be as flexible as possible!

We have some guidelines on using Artificial Intelligence (AI) to ace an application and interview at Monzo. You can read them here.

You’ll hear from us throughout the application process, but if you’ve got any questions, please reach out to [e-mail]. You can also use this email address to let us know if there’s anything we can do to make the process easier for you because of disability, neurodiversity or anything else.

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. You can read more in our blog, 2023 Diversity and Inclusion Report and 2024 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.

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

Seniority level

• Seniority level

  Entry level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Human Resources

• Industries

  Banking

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London, England, United Kingdom 1 month ago

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