Head of Prudential Risk
Monzo Bank Limited
London, UK
8h ago

We’re looking for a pragmatic, collaborative and experienced Head of Prudential Risk to ensure we’re not only customer-focussed and innovative, but that all our prudential risks are identified and well managed.

At Monzo, we believe there’s a better way to do banking

We really care about providing a phenomenal experience for our customers, and we want to be the best possible bank without getting stuck in the old ways of doing things, or trying to duplicate risk management frameworks seen in other banks.

We’re at the start of our journey to serve a billion customers

We’ve made some good progress so far! We now have more than 300 staff, 750k lovely customers and a full UK banking licence.

We have a current account and overdraft, and lots more planned.

We need to carefully manage the risks we face

Like any other regulated bank, we need to make sure we’re compliant, but we want to do so whilst continuing with our agile test and learn approach to launching products.

So, we need someone to join the second line of defence team, and be in charge of overseeing credit risk, operational risk (working with other specialists in the team for financial crime, IT security and conduct risk) and financial risks (capital and liquidity).

You’ll report directly to our Chief Risk Officer and be working with teams across the whole company, including the first line lending and revenue teams.

You’ll spend your time :

  • owning second line oversight of credit risk within the Board-approved risk appetite
  • leading reporting of risks to the executive-level Risk Council and board-level Risk Committee
  • analysing the risks of new products, including compliance with regulations
  • making operational risk assessments with the first line of defence
  • considering impacts of risk on capital and liquidity (ICAAP)
  • making risk meaningful and interesting to everyone at Monzo, and sharing best practice whilst adapting the language you use to speak about risk so that it is easy for everyone to understand
  • taking a sensitive, balanced approach to risk management, and making sure managing risks becomes part of each first-line person’s day to day work
  • staying up to date on regulatory developments and ensuring we remain fully compliant.
  • You should apply if :

  • you have experience of managing retail credit risk
  • you’re great at providing effective challenge whilst building strong, respectful relationships
  • you are hands-on, great at execution, and care about the day-to-day detail.
  • you’re curious and collaborative - you’re great at asking incisive questions and quick to understand
  • you’re comfortable looking at data that is presented in different ways and may not conform to banking norms
  • you’re passionate about technology, and what we are doing here at Monzo excites you!
  • These aren’t essential, but we’d also love it if you :

  • had knowledge of the Capital Requirements Regulation and Directive (CRD4)
  • were familiar with ICAAP and / or IFRS9
  • had experience of financial risks such as liquidity, IRRBB and stress testing.
  • Logistics

    While there’s no hard deadline for this role, we plan to follow (roughly) the following timeline :

  • CV review from 23 July
  • Phone screening from 30 July
  • On-site interviews from 13 August
  • If you are applying for this role after the end of July, that’s still OK! We’ll take this advert down as soon as we’ve found someone.

    However, your interview timeline will likely shift a week or two behind those dates. Your CV could also be on a reserve’ list, depending where we are with candidates who applied first.

    This is a senior role, so there will likely be several rounds of interviews including meeting one of the company founders.

    We’ll make sure we keep you up to date on where you are in the process as soon as we can!

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