Head of Financial Risk and Balance Sheet Strategy
We’re here to make money work for everyone and we're doing things differently. For too long, banking has been obtuse, complex and opaque.
We want to change that and build a bank with everyone, for everyone. Our amazing community suggests features, test the app and give us constant feedback so we can build something everyone loves.
We're focused on solving problems, rather than selling financial products. We want to make the world a better place and change people's lives through Monzo.
About our Finance Team:
We’re looking for a highly proactive, enthusiastic and commercially-minded specialised person with strong knowledge of risk management related to IFRS 9 impairments, to join the Finance team at Monzo. The ideal candidate should have in-depth knowledge of IFRS 9, Regulatory Capital, and general Financial Risk Management activities, whilst at the same time having a strong commercial acumen. Working with senior stakeholders and ExCo members will be something you take in your stride.
- Deputise for the CFO on matters relating to capital management, balance sheet strategy and capital allocation, leading conversations with relevant ExCo members
- Provide oversight and options for the management of capital and its glide path, driving forward discussion on future capital requirements, MREL and capital allocation among other key areas
- Develop and execute a strategy for effective capital allocation and balance sheet resource management
- Own and present the ICAAP, working across the business to assess the implications of stress events and providing options to ExCo on how capital can be effectively managed in response to these stresses.
- Own and present the Recovery plan, leveraging the actions in the ICAAP and ILAAP to demonstrate Monzo’s ability to recover from extreme stress events.
- Act as a key leading and contributor to potential M&A and strategy decisions
- Own regulatory capital within the Finance department, ensuring compliance with ICAAP, Stress Testing and Financial Planning requirements.
- Support alignment of IFRS 9, Credit Risk and Portfolio Integration (Pricing).
- Collaborate with both internal and external audit to provide information where necessary and to manage the auditing process
- Lead Resolution Planning and implementation work in line with Monzo’s resolution requirements, including owning the documentation of how we overcome the potential barriers to resolution.
- Support various committees including the Board Audit Committee to give assurance that the IFRS 9 impairment and the related regulatory capital levels are adequate., specifically leading the monthly Impairment Council to provide challenge on provisions made. Proactively look at emerging trends/changes in legislation and assessing the impact of these on reporting requirements working closely with other departments.
- Chair the Financial Model Risk Forum to ensure that model risk is appropriately managed within the Finance function.
- Coordinate the month end reporting of Financial Risks to ALCo and beyond.
You should apply if:
- You have extensive experience with IFRS9 and Regulatory Capital.
- You have extensive experience in both Risk Management and Financial Risk Management, working with senior stakeholders to drive the right outcomes.
- You have a great eye for detail.
- You’re fascinated by the banking and regulatory landscape and have a good understanding of key financial controls.
- You’re a self-starter and enjoy tackling what needs doing, whether it’s making a bank transfer or pulling together reports for investors.
- You’re comfortable translating complex information into simple words for people with diverse backgrounds.
- You thrive in a dynamic and constantly evolving environment.
- What we’re doing at Monzo excites you!
The interview process:
Our interview process involves 3 main stages:
- Recruiter call
- Initial call with our CFO
- 3-4 calls/in person meetings with senior stakeholders across the business
Our average process takes around 2-3 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 *hiring email*
What’s in it for you:
✈️ We can help you relocate to the UK
✅ We can sponsor visas
📍This role can be based in our London office, but we're open to distributed working within the UK (with ad hoc meetings in London).
⏰ 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.
📚 Learning budget of £1,000 a year for books, training courses and conferences
➕ And much more, see our full list of benefits here
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.
Equal Opportunity Statement
We are actively creating an equitable environment for every Monzonaut to thrive.
Diversity and inclusion are a priority for us and we are making sure we have lots of support for all of our people to grow at Monzo. 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. You can read more in our blog, 2022 Diversity and Inclusion Report and 2022 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.