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About the Role
The Prudential Risk team is expanding, and we are searching for a Manager to join our 2nd Line Prudential Risk Oversight team. This role will champion the value to "grow Monzo safely" by providing expert second-line oversight of key prudential regulatory deliverables, interpreting regulatory change, and supporting financial model reviews.
Responsibilities
- Support the oversight of key regulatory deliverable and enhancement plans in line with Monzo’s approach, regulatory expectations and industry best practices.
- Identification and interpretation of regulatory rules, providing oversight and challenge and ensuring these are applied correctly.
- Support the production of reports and options on Monzo’s financial position and controls framework for key risk committees and the Board, making recommendations for ensuring controls are effective and prudential regulatory compliance.
- Work alongside the Group Risk team to 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.
Requirements
- Relevant prudential experience gained within a bank, a consultancy, or a regulatory body.
- 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.
- 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.
- Interest in analysing data, performing analysis and understanding the impact on our bank to form risk insights.
- Good relationship builder who can develop productive working connections with 1LoD stakeholders across all levels of the business, whilst maintaining the ability to provide robust, informed challenge and review to ensure our safe growth.
- Strong written and verbal communication style.
- Has a strong foundation in several of these areas, with plenty of room and support to learn and develop the rest within the role.
Skills
- Prudential Risk Oversight
- Regulatory Deliverables (ICAAP, Recovery Plan, Resolution Planning)
- Regulatory Change Interpretation
- Financial Model Review (Financial Forecasting, Capital Planning, Stress Testing)
- Excel/ G-sheets
- Anaplan
- Data Analysis
- Relationship Building
- Communication
Location
- London
- Remote (UK)
Work Type
- Full-time
- Flexible working hours
Experience Level
- Manager
Salary/Compensations
- £64,000 - £80,000
- Incentive Awards tied to performance
Benefits
- £1,000 learning budget each year
- MacBooks provided
- Extra support for work-from-home setup (for remote workers)
About the Company
- We’re on a mission to make money work for everyone.
- We’re waving goodbye to the complicated and confusing ways of traditional banking.
- 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 ❤️
Equal Opportunity
- 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.