Director of Financial Risk

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Hear from our team about what it's like working at Monzo ✨

📍Dublin, Ireland 💰 € competitive + share options Hear from the team ✨

Monzo Europe is an Irish-based subsidiary of the Monzo Group which will, upon authorisation, be the base for Monzo’s expansion as a bank in the European Union. We are looking for an experienced Director of Financial Risk to lead the development, implementation and oversight of the bank's financial risk frameworks in Europe. The Director will provide 2nd line oversight of financial risk policies, models, and including capital adequacy, funding, liquidity, and non-traded market risk. The role demands a deep understanding of counterparty credit risk, capital adequacy, funding and liquidity, and prudential regulation. This role reports to the Chief Risk Officer, Monzo Europe.

🔑 You’ll play a key role by working on...

Financial Risk Management:

• Develop and implement the financial risk framework, covering Interest Rate Risk In the Banking Book (IRRBB), counterparty credit risk, capital, and liquidity risks.
• Define the financial risk appetite in line with strategic objectives and regulatory expectations.
• Provide independent oversight of capital adequacy, funding & liquidity, and market risk, including Internal Capital Adequacy Assessment Process (ICAAP), Internal Liquidity Adequacy Assessment Process (ILAAP), Recovery Plan and Solvent Wind Down (SWD) assessments.
• Oversee the review and validation of financial risk models, including IRRBB, investment risk, and hedging strategies.
• Review and ensure the accuracy and compliance of financial regulatory submissions, including ICAAP, ILAAP, Recovery Plan and Solvent Wind Down Plans.
• Support financial planning and forecasting, capital planning, stress testing, and balance sheet projections under base and stress case scenarios.
• Oversee regulatory reporting and Pillar 3 disclosures, ensuring compliance with prudential regulations.
• Review and provide oversight of treasury activities, including balance sheet management, wholesale credit risk assessments and front office execution.

Leadership

• Establish and lead the Financial Risk management function ensuring effective delivery through adequate resourcing, processes and technology in Europe
• Work closely with other senior leaders and first line teams to ensure that credit and financial risks are managed in a robust and integrated manner and controls are effective across the bank.
• Provide expert guidance and strategic recommendations to senior management and the Board on credit and financial risk matters, enabling informed decision-making.
• Engage with key internal and external stakeholders, including Group functions and external regulators, to ensure that the bank’s financial risk management practices are aligned, transparent, effective, and compliant.
• Establish a robust financial risk management culture through comprehensive training and awareness programmes.
• Report to the Board and Executive-level Committees on financial risk control effectiveness.
• Contribute to the second line Risk Leadership Team (RLT), fostering a collaborative environment across the organisation.
• Ensure Financial Risk Management Frameworks, Policies, and Standards in Europe take account of the Monzo Group activities.

🤩We’d love to hear from you if you..

• Hold extensive experience in financial risk management within a banking environment, and with considerable experience in a leadership role.
• Strong knowledge of counterparty credit risk, financial risk management, prudential regulation, and regulatory requirements (CBI, EBA, ECB/SSM, Basel, etc).
• Excellent analytical skills, strong leadership and communication abilities, and proficiency in economic capital, financial modelling, stress testing and counterparty credit risk measurement tools)
• Excellent verbal and written communication skills, with the ability to influence and engage senior stakeholders.
• Thrive in a fast-paced environment, handling complexity with ease and communicating effectively.
• Are passionate about financial technology and motivated by the opportunity to be at the forefront of banking transformation in Ireland and the EU.

Even better if:

• You have experience setting up and running financial risk functions in Ireland / the EU.

🙌 What’s in it for you

💰 € competitive ➕ share options

📍 This role will be based in Dublin, Ireland, however you will be expected to travel to Monzo’s head offices in London from time to time.

⏰ 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.

🏝 Annual Leave - 34 days including public holidays (24 holiday days + 10 public holidays)

🏥 We’ll provide you with a Healthcare allowance to select your own provider

💰 Personal Retirement Savings Account, up to 6% matching

• We're just getting started building out our benefits package for Ireland. These could be subject to change, by the time you join and we'll keep you in the loop of any expected changes.

🌈 The application journey has 5 key steps:

• Phone call with recruiter (30mins)
• Video call with hiring manager (30 mins)
• Technical video interview with hiring manager and stakeholders (60 min)
• Leadership & behavioural interview with technical team (60 min)
• Final interview with CEO EU (30 mins)

Our average process takes around 3-4 weeks but we will always work around your availability. You will have the chance to speak to our recruitment team at various points during your process but if you do have any specific questions ahead of this please contact us on [email protected]

We’ll only close this role once we have enough applications for the next stage. Please submit your application as soon as possible to make sure you don’t miss out.

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Equal opportunities for everyone

Diversity and inclusion are a priority for us and we’re making sure we have lots of support for all of our people to grow at Monzo. At Monzo, we’re embracing diversity by fostering an inclusive environment for all people to do the best work of their lives with us. This is integral to our mission of making money work for everyone. You can read more in our blog, 2023 Diversity and Inclusion Report and 2023 Gender Pay Gap Report.

We’re an equal opportunity employer. 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.

If you have a preferred name, please use it to apply. We don't need full or birth names at application stage 😊