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Senior Prudential Risk Manager

Cardiff, London or Remote (UK)

🚀 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 or Remote UK | 💰£93,500 - £120,000 ➕ share options | Benefits | Hear from the team ✨

As Monzo continues to grow we’re looking for a Senior Prudential Risk Manager to join us within the 2nd Line of defence risk team. The role will play a key part in leading the oversight and challenge of the management of Monzo’s financial and prudential risks and work closely with our 1st line of defence Finance teams. 

We’re looking for an analytical and commercially minded senior risk manager, with prudential risk experience, who will thrive working across different areas of prudential and financial risk. This role will lead the Prudential Risk oversight of regulatory deliverables including the ICAAP and Recovery and Resolution Planning, as well as the capital strategy and how it is embedded in Monzo. The role will also interpret  and assess the impact of regulatory change and support the review of financial models used for financial forecasting, capital planning, and stress testing.  

Therefore, ideally you will have a strong working knowledge across multiple areas of financial risk management and prudential regulation (UK CRR and the PRA Rulebook). 

Part of this role will be reviewing financial models used for financial forecasting, capital planning and stress testing, owned by the 1st Line of Defence, running sensitivity analysis on the model outputs and developing a 2nd Line challenger model capability. Therefore, advanced Excel/G-Sheet skills is essential and previous experience in building or reviewing financial models, particularly relevant to a retail bank and experience in working within BigQuery and Anaplan is preferable.  

Your day-to-day:

  • Lead the 2nd line risk oversight and review of the ICAAP and Recovery and Resolution Planning in line with Monzo’s approach, regulatory expectations and industry best practice.
  • Lead the oversight of the capital management strategy and its implementation through financial reporting and forecasting. 
  • Identify and assess regulatory rule interpretations, providing oversight and challenge and ensuring these are correctly applied.  
  • Produce opinions and reports on Monzo’s financial risk position and control framework for key risk committees and the Board, making recommendations for ensuring controls are effective and prudential regulatory compliance, directly engaging with senior management on these topics. 
  • Ensure Monzo’s Group Financial Risk Framework and Financial Projections Framework are adhered to, and that suitable controls and policies are in place. 
  • Review financial models used for financial forecasting, capital planning and stress testing (including the ICAAP and Recovery Plan), owned by the 1st Line of Defence, within G-Sheets and Anaplan, including running sensitivity analysis and forming insights, observations and recommendations.
  • Conduct discrete pieces of assurance to support the strengthening of risk and controls in Monzo.
  • Develop strong relationships with colleagues to support the embedding of prudential risk management activity.

You should apply if you:

  • Have significant prudential risk or regulatory experience at either a bank, a consultancy or a regulatory body
  • Have in-depth knowledge/experience of the relevant regulatory requirements, specifically in relation to capital, recovery planning and resolution, and the ability to interpret what that means for the relatively unique circumstances of our bank.  
  • Have advanced Excel/ G-sheet skills and experience of building or reviewing financial models to support financial forecasting or capital planning, preferably relevant to a retail bank. 
  • Are interested in identifying relevant data, performing analysis and understanding the impact on our bank to form risk insights.
  • Are able to work independently, proactively and enjoy a dynamic and changing environment.
  • Are keen to learn about and work on areas of the regulatory regime that you may not have previously explored, particularly in the context of a growing bank.   
  • Have experience building strong relationships with stakeholders at all levels within the business.
  • Strong written and verbal communication style.

🙌What’s in it for you

💰£93,500 - £120,000

➕ share options.

📍This role can be based in London or remote within the UK with adhoc visits to the 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 4 key steps

  • Short phone call with a member of the hiring team
  • Follow up video call with the Hiring Manager
  • Final stage 2-part Role Specific and Behavioural interview with members from the wider Risk and Compliance collective

This process should take around 3-4 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 business-hiring@monzo.com 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.
#LI-TK1

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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