Prudential Risk Manager

• Our Prudential Risk team is expanding, and we are searching for a Manager to join our 2nd Line Prudential Risk Oversight team
• You will be part of the broader 2LoD Risk and Compliance department here at Monzo
• This represents a fantastic chance to contribute to a scaling bank with high aspirations
• By joining the Prudential Risk Oversight team, you will champion our value to “grow Monzo safely.” Your focus will involve collaborating with 1st Line Financial Risk to provide expert second-line oversight of their key prudential regulatory deliverables including the ICAAP, Recovery Plan and Resolution Planning
• The role will also interpret and assess the impact of regulatory change and support the review and development of financial models used for financial forecasting, capital planning, and stress testing
• Ideally you will have had experiences producing or reviewing regulatory submissions, the role will support the Senior Manager overseeing the ICAAP, Recovery Plan and across all RAF barriers, with a key focus on the financial risk barriers
• You will work alongside the first line to provide in-flight review and challenge and complete independent assurance reviews on discrete areas of focus
• Part of the role will involve reviewing stress testing outputs from Anaplan for the ICAAP, Recovery Planning and Valuation In Resolution, it would be beneficial to have experience analysing large data sets in excel/g-sheets
• A successful applicant will bring hands-on experience of interpreting and challenging capital prudential regulations and have the ability to develop and build strong working relationships with colleagues across the three lines of defence
• Supporting 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

Benefits

• Yearly Salary Review + Proactive pay increases to reflect growing responsibilities + Share options
• Flexible working hours
• Work From Home Opportunities + we’ll pay for any equipment you need to do your job
• 24 days holiday a year, plus bank holidays
• Employee Assistance Programme
• Paid sick leave for both physical & mental health + Health insurance via AXA or Vitality + Additional health insurance through Medicash
• Learning budget of £1,000 a year
• Aviva Pension Scheme + 4% Employer Contribution
• Paid maternity, paternity, adoption or shared parental leave (after 13 weeks of employment)
• 52 weeks of primary caregiver leave (6 months at 100% pay, 13 weeks at Statutory Maternity Pay, 13 weeks unpaid)
• 3 months of secondary caregiver leave at 100% pay
• Unum Life Insurance
• Access to fertility and family-forming health benefits via Fertifa
• Abellio Season Travel Tickets + Cycle-to-Work Scheme
• You are a 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
• 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
• We are looking for someone who has a strong foundation in several of these areas, with plenty of room and support to learn and develop the rest within the role
• Are interested in analysing data, performing analysis and understanding the impact on our bank to form risk insights
• You have relevant prudential experience gained within a bank, a consultancy, or a regulatory body
• 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
• You have a genuine desire to learn and grow, and you are excited about building enhanced 2LoD oversight within a dynamic, fast-paced environment
• Not ticking every box? That’s totally okay! Studies show that women and people of colour might hesitate to apply unless they meet every single requirement. If you’re passionate about this role and keen to learn and grow with us, we encourage you to apply, even if you don’t have everything that’s listed just yet. Drop us your application, we’d love to hear from you!