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Head of Prudential Risk

Monzo

Monzo

Accounting & Finance
harrow, uk
Posted on Tuesday, June 18, 2024

🚀 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 ❤️

Hear from our team about what it's like working at Monzo


📍London, Cardiff or Remote | 💰 From £100,000 + Benefits | Hear from the team

⭐Our Financial Risk team

The Head of Prudential Risk is a key role for Finance and the broader Monzo business. The role is responsible for leading the planning and production of our key prudential deliverables and ensuring Financial Risk continues to be managed within risk appetite across the group. As such this is a senior finance role that will have impact across multiple collectives and disciplines

You will require a breadth of knowledge and experience across prudential regulation. Expertise covering ICAAP, solvent wind down and recovery and resolution planning is essential. In addition to knowledge of financial risk, you will be expected to have a solid understanding of non-financial risk and have the practical skills to ensure critical processes linked to recovery, resolution and general financial stability are maintained and enhanced. You will have the ability to independently interpret a range of regulations, determine the impact of those on the bank, and to manage projects to implement them.

You will have the ability to lead a high performing team and work effectively across all levels of the organisation. You will play a key role in delivering important and challenging messages across the Finance collective and to senior leaders and stakeholders across the business

🔑You’ll play a key role by...

  • ICAAP: Own the annual group ICAAP process ensuring this is delivered on time and aligned to internal and external requirements. Ensure individual entity risks and requirements are subject to appropriate assessment and provide support to wider parts of the Monzo group aligned to agreed intra group services.
  • Recovery Planning: Own the annual review of our recovery plan and ensure this continues to align to regulatory requirements and is reflective of the evolving nature of the group. Ensure our recovery options are owned by business areas and fire drills are undertaken to test our response capabilities
  • Resolution Planning / Solvent Wind Down Plan (SWDP): Own the group resolution plan and ensure SWDP elements are appropriately maintained for entities across the group. Ensure requirements linked to the Groups evolving resolution strategy are implemented and we comply with Resolution Assessment Framework (RAF) requirements (including OCIR, VIR and COA).
  • Supporting with capital planning activities, risk appetite setting and lead ALCO reporting and KRI maintenance for Financial Risk
  • Ensuring the impact of future prudential regulatory change is understood and working with relevant teams to assess and adapt to the challenges.
  • Supporting the broader financial risk team with the delivery of wider objectives
  • Leading a team of high performing colleagues, supporting their individual development needs and ensuring roles and responsibilities are clear.

🤩We’d love to hear from you if you…

  • Have proven prudential regulatory experience at either a bank, a consultancy or a regulatory body and want to apply it to a fast growing new bank.
  • Have a relevant professional qualification
  • Have detailed knowledge/experience of the relevant regulatory requirements, and the ability to interpret what that means for the relatively unique circumstances of our bank.
  • Are comfortable with understanding financial projections and analysis techniques linked to the quantification of risk
  • Ability to coordinate, participate and lead projects to produce regulatory deliverables and maintain the Bank’s set of prudential documentation and supporting materials.
  • Are interested in identifying relevant data, performing analysis and understanding the impact on our bank.
  • 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 new bank.
  • Have experience building strong relationships with stakeholders at all levels within the business.
  • Have strong written and verbal communication skills

🙌What’s in it for you

💰 From £100,000 ➕ share options.

📍This role can be based in our London or Cardiff offices, or be 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, and at times that suit you and your team.

📚£1,000 learning budget each year to use on books, training courses and conferences.

➕ Plus lots more! Read our full list of benefits.

🌈 The application journey has 4 key steps

- Phone call with recruiter - 30 mins
- Initial call with hiring manager - 30 mins
- Technical interview with hiring manager & stakeholder - 60 mins
- Behavioural Interview - 45 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.

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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, 2023 Diversity and Inclusion Report and 2023 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.