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Head of Asset Liability Management

London

🚀 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 | 💰 £145,000 - £160,000 + stock options | Benefits | Hear from the team ✨ 

⭐ About our Treasury Team

We are looking for a Head of Asset Liability Management (ALM) to join the Treasury team. You’ll report into the Deputy Treasurer, working closely with the Treasurer and CFO and be responsible for the day-to-day and strategic balance sheet risk management and optimisation of a fast-growing and evolving balance sheet.

Your core job will be managing all aspects of balance sheet risk i.e. interest rate risk in the banking book, liquidity and FX. You will also lead the development, approval and implementation of the bank’s ALM strategy aligned with the business plan and Board set risk appetite. You will also need to have working knowledge of other areas of Treasury and Finance in a bank. This includes understanding of hedging instruments, financial markets and being willing to help coach and develop the overall Treasury team.

🔑You’ll play a key role by...

  • Managing all aspects of balance sheet risk, such as interest rate, liquidity (incl  intraday) and foreign exchange. Ensuring adherence to the internal and regulatory requirements
  • Developing and enhancing the current ALM framework, policies and models including stress testing scenarios/approaches
  • Delivering the Internal Liquidity Adequacy Assessment Process (ILAAP) for Monzo and contributing to the production of the InternaI Capital Adequacy Assessment Process (ICAAP) and Recovery Plan sections
  • Owning and enhancing the functionality of the ALM system with a hands on approach in sync with the growing and evolving balance sheet
  • Managing and owning relationships with Business units so that the balance sheet risks are understood for new initiatives 
  • Preparing the ALCO pack and presenting at ALCO when required
  • Designing and driving the implementation of best practice FTP framework
  • Leading, motivating and inspiring the ALM team. Developing capability and ensuring succession planning.
  • Developing relationships with regulator where required
  • Leading best practice approach to all areas of Treasury operations 
  • Working with teams across finance, second line & third line defence teams
  • Promoting and representing Monzo at industry functions/forums to develop and drive initiatives such as balance sheet optimisation strategy

🤩We’d love to hear from you if…

  • Significant experience in a senior ALM/Treasury role within a regulated retail bank,  building society or fintech.
  • Extensive knowledge of Interest Rate Risk in the Banking Bank (IRRBB), Liquidity and FX standards that are expected by regulators and how to deliver against them. 
  • The desire to have a key role in developing and shaping how Treasury works at Monzo. 
  • Excellent verbal and written communication skills, with the ability to present complex financial information to both expert and non-expert audiences.
  • Proven ability to lead, manage and inspire a team.  
  • Experience of building strong and effective relationships with stakeholders at all levels within the business and across the second and third line of defence teams.
  • Excitement for what Monzo is doing and its future path!

🙌 What’s in it for you

💰£145,000 - £160,000 ➕ share options.

📍This role is based in our London office. We're open to distributed working within the UK (with the expectation of occasional work from our London office).

⏰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 5 key steps:

- Phone call with recruiter (30mins)
- Initial video call with hiring manager (30 mins)
- Technical video call interview with Treasury team (60 mins)
- Behavioural interview with Treasury team (45 mins)
- Final chat with CFO (30 mins)

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 business-hiring@monzo.com

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.

#LI-NZ1

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, 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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