Prudential Risk Manager

Monzo; City Of London; Hybrid; GBP 60,000 - 80,000; Full time

Job summary

A financial technology company is seeking a Prudential Risk Manager to support oversight of financial risks. The role includes reviewing financial models and ensuring regulatory compliance. Ideal candidates have prudential risk experience, strong Excel skills, and excellent communication abilities. This position is available in London or remotely within the UK, offering flexible hours and a learning budget.

Benefits

Flexible working hours

£1,000 learning budget

Support for remote work setup

Qualifications

• Prudential risk or regulatory experience at a bank, consultancy, or regulatory body.
• Knowledge of regulatory requirements related to capital.
• Experience building or reviewing financial models.

Responsibilities

• Review financial models for forecasting and capital planning.
• Support the 2nd Line of Defence risk oversight.
• Contribute to regulatory rule interpretations.

Skills

Prudential risk experience

Regulatory experience

Advanced Excel skills

Strong communication skills

Tools

G-Sheets

BigQuery

Anaplan

Job description

🚀 We’re on a mission to make money work for everyone.

We’re waving goodbye to the complicated and confusing ways of traditional banking.

With our hot coral cards and get-paid-early feature, combined with financial education on social media and our award winning customer service, we have a long history of creating magical moments for our customers!

We’re not about selling products – we want to solve problems and change lives through Monzo ❤️

Our Prudential Risk Team is growing and we’re looking for a Prudential Risk Manager to join us within the 2nd Line of defence risk team. The role will support the Prudential Risk team in providing oversight and challenge of the management of Monzo’s financial and prudential risks and work closely with our 1st line of defence Finance teams.

• Review financial models used for financial forecasting and capital planning (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.
• Develop a 2nd Line challenger model capability to strengthen the 2nd Line of Defence oversight of financial models and capital planning.
• Support reviews of the internal controls framework used for financial forecasting, capital planning and other areas of financial risk management, making recommendations for ensuring effective controls and prudential regulatory compliance.
• Oversee the monthly financial risk reporting process, including providing 2nd Line of Defence inputs, for risk governance committees such as ALCo.
• Review the impact of new products and business change, for example internal expansion, on Monzo’s financial risk profile and prudential regulatory compliance.
• Support the 2nd line risk oversight and review of the ICAAP and Recovery and Resolution Planning in line with Monzo’s approach, regulatory expectations and industry best practice.
• Contribute to regulatory rule interpretations as well as reviewing the 1st Line of Defence interpretations of relevant regulatory rules, providing oversight and challenge for regulatory capital resource/requirements rule interpretations and regulatory reporting (COREP, FINREP, PRA/FCA Returns)
• Ensure Monzo’s Group Financial Risk Framework and Financial Projections Framework are adhered to, and that suitable controls and policies are in place to implement these.
• 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.

You should apply if you:

• Have prudential risk or regulatory experience at either a bank, a consultancy or a regulatory body
• Have good knowledge/experience of the relevant regulatory requirements, specifically in relation to capital, and the ability to interpret what that means for the relatively unique circumstances of our bank.
• 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. Experience working within BigQuery and Anaplan is ideal but not essential.
• Are interested in identifying relevant data, performing analysis and understanding the impact on our bank to form risk insights.
• 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 growing bank.
• Have experience building strong relationships with stakeholders at all levels within the business
• Strong written and verbal communication style.

🙌What’s in it for you

📍This role can be based in London or remote within the UK with adhoc visits to the London office.

⏰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.

🌈 The application journey has 4 key steps

• Short phone call with a member of the hiring team
• Follow up video call with the Hiring Manager
• Final stage 2‑part Role Specific and Behavioural interview with members from the wider Risk and Compliance collective

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.

You’ll hear from us throughout the application process, but if you’ve got any questions, please reach out to [e-mail] You can also use this email address to let us know if there’s anything we can do to make the process easier for you because of disability, neurodiversity or anything else.

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 , 2024 Diversity and Inclusion Report and 2024 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 😊