Senior Compensation Manager

Monzo; City Of London; On-site; GBP 80,000 - 100,000; Full time

Job summary

A forward-thinking fintech company based in London is seeking a Senior Compensation Manager to shape its compensation strategy for customer-facing teams. This role involves leading pay reviews, policy management, and ensuring compliance with regulations. The ideal candidate will have a strong analytical background and experience in managing compensation frameworks while fostering a fair and inclusive environment. Competitive salary and flexible working hours are offered.

Benefits

Flexible salary depending on experience

Stock options

£1,000 learning budget annually

Home office setup support

Qualifications

• Ability to lead annual pay review cycles, adapt compensation strategies.
• Experience with statutory reporting requirements.
• Proficiency in benchmarking compensation and designing total rewards programs.

Responsibilities

• Lead the COps Compensation Strategy ensuring fair and competitive practices.
• Conduct annual pay reviews and provide recommendations to leadership.
• Enhance pay frameworks and reporting for the COps team.

Skills

Analytical skills

Collaborative mindset

Compensation reporting

Education

Experience in compensation management

Understanding of the Real Living Wage

Job description

Overview

We’re on a mission to make money work for everyone. We’re waving goodbye to the complicated and confusing ways of traditional banking. 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. We’re looking for a commercially sharp, people-first Senior Compensation Manager to help shape the future of reward at Monzo, with a dedicated focus on our COps teams. You’ll be at the heart of building a reward experience that’s fair, progressive and built to scale. Not just fit for today, but ready for tomorrow. Monzo is growing fast, and we want to grow thoughtfully. That means making sure our compensation approach reflects our values, empowers our people, and keeps us competitive in a changing world. You’ll lead on high-impact, cross-company activity, from benchmarking and pay reviews, to evolving our frameworks for progression, levelling and compliance. This isn’t about maintaining the status quo. It’s about driving forward a strategy that’s clear, meaningful and distinctly Monzo. You’ll bring sharp insight, analytical, a collaborative mindset, and the confidence to shape what great looks like for the business and for every Monzonaut.

This role is a strategic partnership focused on supporting Monzo's Customer Operations (COps) function, ensuring our compensation practices for this critical employee population are fair, competitive, compliant with regulatory standards like the Real Living Wage, and aligned with operational needs.

Responsibilities

• Lead the COps Compensation Strategy: Act as the dedicated compensation partner to the COps leadership team, People Partners, and Finance to design and implement total rewards programs specific to our customer-facing functions.
• COps Policy and Process Review: Proactively review, update, and manage all compensation and reward-related policies specific to COps, including shift premiums, differential pay, and incentive schemes, ensuring they are scalable, compliant, and clearly communicated.

Annual Planning and Benchmarking

• Lead Annual Review and Stakeholder Management: Lead the annual pay review cycle, with a specific focus on preparing and presenting compensation recommendations and impact analyses to COps leadership and vital Senior Management.
• Dedicated COps Benchmarking: Conduct and maintain dedicated salary and overall compensation benchmarking for high-volume, operational roles to ensure Monzo remains competitive for Customer Service and Operations talent.
• Hiring and Attraction Support: Collaborate closely with the Hiring team and COps People Partners during the job offer stage to ensure all compensation proposals adhere to internal equity principles and COps pay plans (e.g., step progression).

Frameworks, Analytics, and Operations

• Pay Frameworks and Job Levelling: Maintain and develop Monzo’s pay frameworks and job levelling, ensuring the COps leveling structure accurately reflects the scope and impact of work across different operational roles.
• COps Compensation Reporting (MI/Analytics): Own compensation reporting and analytics, providing COps leadership with insights on pay distribution, retention risks, and the cost impact of specific COps compensation policies.
• Reward Process Implementation: Work alongside the Payroll and People Ops teams to implement and improve reward processes, focusing on making the compensation experience for COps employees seamless and accurate.
• System Enhancement: Help to enhance the use of our HR systems, focusing on how to better model and administer complex compensation structures.

Candidate profile

• Lead the creation of or evolvement of a Compensation Philosophy
• Lead annual pay review cycles end to end, including extensive modelling to align with budget requirements
• Lead the annual benchmarking process, including extensive analysis including various data sources with alignment to salary bands and job architecture
• You have been responsible for compensation statutory reporting requirements such as Gender Pay Gap reporting, Pay Transparency.

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.
• The application journey has 3 key steps: A 30-minute call with a recruiter, An initial conversation with the HM, A full-loop interview stage with team members and key stakeholders. This process should take around 2-3 weeks. We’ll be as flexible as possible.

Equal opportunities

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, 2024 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.

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