Financial Risk Manager

At Monzo, we're building a bank that is fair, transparent and delightful to use. We have been growing quickly, with over 4 million customers in the UK. To ensure that Monzo can both grow and stay in control, we’re expanding our Prudential Risk team in the second line of defence. We are looking for an energetic, collaborative and ambitious Prudential Risk Manager to join our Prudential Risk team.

Both roles will focus on understanding and managing our financial risks arising from all Monzo’s current and new activities and products, and developing and embedding a robust financial risk management  framework. The Prudential Risk Manager will be involved in monitoring the way we grow and manage our balance sheet, in ensuring we hold adequate regulatory capital at all times, in identifying and monitoring any risks to our financial positions, in  overseeing first line activities in line with our risk framework,, and finally in planning for recovery and resolution in the event that things go wrong.

You’ll spend your time:

  • Developing and implementing Monzo’s financial risk management framework, designing or reviewing a range of technical financial risk appetites, policies, procedures, models and controls; as well as undertaking key tasks in financial risk management on a day to day basis

  • Representing the Prudential Risk team as  a subject-matter expert, providing input  on Monzo’s strategic plans and projects, and reviewing initiatives from teams such as Product and Treasury

  • Supporting the preparation of key regulatory documents such as ICAAP, ILAAP and Recovery Planning to optimum quality. This will involve significant coordination, analytical input, and robust review, challenge and testing

  • Monitoring Monzo’s appetites and key financial risk metrics, and ensuring proactive steps are taken to sufficiently mitigate the variety of risks as appropriate

  • Staying up-to-date with regulatory requirements, and ensuring they are being adequately understood and translated into the business appropriately

  • Validating and manipulating financial models used for the management of financial risks

  • Producing opinions and reporting on Monzo’s financial risk position for senior management, Executive Committees and the Board

  • Addressing many ad-hoc projects, tasks and demands from our stakeholders to help us build a bank 

You should apply to join the team as an Manager if:

  • You are looking for a new and different challenge that excites you

  • You have experience in directly relevant functions in banks (e.g. Risk, Treasury) or regulatory bodies. Via this prior role, you have become an expert in at least one of the key areas of financial risk management  

  • You have a deep analytical understanding of capital, liquidity and balance sheet management in a bank; and how they fit into the regulatory environment. You have a demonstrated experience of applying this knowledge and thinking on your feet about these topics

  • You are able to understand and interpret regulatory documents, policies or supervisory statements. You have a deep understanding of what regulations seek to achieve in the prudential risk space 

  • You work independently, you are great at managing projects and you can interact with a range of different and unique stakeholders simultaneously on different topics. You enjoy building effective, respectful and collaborative relationships 

  • You are a good communicator, both verbally and in writing, even on very sophisticated and nuanced topics. As such you will able to represent the team in various internal forums and senior Committees (eg. ALCo, Executive and Board Risk Committees)

Logistics

  • This role is a Level 3 on the Risk and Compliance Framework

  • Role is based in our London office.

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.

Diversity and inclusion is a priority for us – if we want to solve problems for people around the world, our team has to represent our customers. So we need to attract the best talent and create an environment that supports and includes them. You can read more about diversity and inclusion on our blog.

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.

The process consists of submission of a CV and application questions, CV review by the Hiring Manager and a short interview. This may include a task or pre-work to be completed before the interview. 

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.

Equal Opportunity Statement

At Monzo, embracing diversity in all of its forms and 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 ethnicity, religion, sexual orientation, gender identity, family or parental status, national origin, veteran, neurodiversity status or disability status.