Head of Prudential Risk

London / Cardiff /UK Remote | £121,000 - 140,000 (depending on experience) + incentive awards tied to your performance + Benefits | Hear from the team ✨

⭐ Our Financial Risk team

We're looking for a Head of Prudential Risk which 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 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 embedding 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: Owning 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: Owning 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 Assessment Framework: Ensuring requirements linked to the Group’s evolving resolution strategy are implemented and we comply with Resolution Assessment Framework (RAF) requirements (including OCIR, VIR and COA).
• Supporting 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
• Have the 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

£121,000 - 140,000 (depending on experience) ➕ incentive awards tied to your performance.

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, and at times that suit you and your team.

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

We will set you up to work from home; all employees are given Macbooks and for fully remote workers we will provide extra support for your work-from-home setup.

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

The application journey has 4 key steps

• Phone call with the Recruiter (30 mins)
• Initial Video interview with Hiring Manager (30 mins)
• Role specific interview with Financial Risk team (60 mins)
• Behavioural interview with wider Finance members (45 mins)

This process should take around 3-4 weeks - your schedule is really important to us, so we promise to be as flexible as possible!

We have some guidelines on using Artificial Intelligence (AI) to ace an application and interview at Monzo. You can read them here.

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