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Salary: GBP 64,000 - 80,000 / annual
Monzo is a digital bank on a mission to make money work for everyone. The company has grown from a prepaid card to offering personal and business bank accounts, joint accounts, credit cards, savings, investments, and pensions in the UK.
The Prudential Risk team is expanding and seeking a Manager to join the 2nd Line of Defence (2LoD) Prudential Risk Oversight team within the Risk and Compliance department. This role offers the opportunity to contribute to a scaling bank with high aspirations, championing the value to "grow Monzo safely."
You will collaborate with 1st Line Financial Risk to provide expert second-line oversight of key prudential regulatory deliverables, including the ICAAP (Internal Capital Adequacy Assessment Process), Recovery Plan, and Resolution Planning. The role involves interpreting and assessing the impact of regulatory change and supporting the review and development of financial models used for financial forecasting, capital planning, and stress testing.
Key responsibilities include:
- Supporting oversight of key regulatory deliverables and enhancement plans in line with Monzo's approach, regulatory expectations, and industry best practices
- Identifying and interpreting regulatory rules, providing oversight and challenge to ensure correct application
- Supporting production of reports and options on Monzo's financial position and controls framework for key risk committees and the Board
- Working alongside the Group Risk team to ensure the Group Financial Risk Framework and Financial Projections Framework are adhered to
- Reviewing financial models used for financial forecasting, capital planning, and stress testing (including ICAAP and Recovery Plan) in G-Sheets and Anaplan, including running sensitivity analysis and forming insights
- Conducting discrete pieces of assurance to support strengthening of risk and controls
- Developing strong relationships with colleagues across the three lines of defence
You will provide in-flight review and challenge alongside the first line and complete independent assurance reviews on discrete areas of focus. Part of the role involves reviewing stress testing outputs from Anaplan for ICAAP, Recovery Planning, and Valuation In Resolution.
Requirements:
- Relevant prudential experience gained within a bank, consultancy, or regulatory body
- In-depth knowledge and experience of relevant regulatory requirements, specifically in relation to capital, recovery planning, and resolution, with ability to interpret what that means for Monzo's unique circumstances
- Advanced Excel/G-sheet skills and experience building or reviewing financial models to support financial forecasting or capital planning, preferably relevant to a retail bank
- Experience analysing large data sets
- Genuine desire to learn and grow in a dynamic, fast-paced environment
- Interest in analysing data and understanding impact on the bank to form risk insights
- Strong relationship-building skills with ability to develop productive working connections with 1LoD stakeholders across all levels while maintaining robust, informed challenge
- Strong written and verbal communication skills
The posting notes that applicants do not need to meet every requirement and encourages applications from those passionate about the role and keen to learn and grow.
