Operational Risk Manager

Monzo; United States; Remote; USD 85,000 - 105,000; Full time

Job summary

Monzo seeks an Operational Risk Manager to enhance its risk management capability within the growing Risk & Compliance team. The role focuses on operational resilience, requiring expertise in finance processes and operational risk assessments, contributing to a culture of safety and efficiency in their banking solutions.

Benefits

Flexible working hours

£1,000 annual learning budget

Macbooks for all employees

Support for work-from-home setup

Qualifications

• Experience in a second line of defense role in banking or financial services.
• Good understanding of financial processes including regulatory reporting.
• Experience in operational risk event capture and analysis.

Responsibilities

• Support the implementation of the operational risk framework.
• Conduct reviews and manage operational risks across business areas.
• Promote a strong risk culture within the organization.

Skills

Operational Risk Management

Financial Reporting

Risk Assessment

Stakeholder Management

Analytical Thinking

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.

After starting as a prepaid card, our product offering has grown a lot in the last 10 years in the UK. As well aspersonal and business bank accounts, we offer joint accounts, accounts for 16-17 year olds, a free kids account and credit cards in the UK, with more exciting things to come beyond. Our UK customers can also save, invest andcombine their pensions with us.

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 ️

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

London/Cardiff/UK Remote | £85,000 - £105,000 + Benefits | Hear from the team

Our Risk team

We’re looking for an Operational Risk Manager to join Monzo’s ever growing, high performing Risk & Compliance team! In this second line of defence role, you’ll give support to the business in rolling out and embedding core elements of the risk management framework, with a focus on operational resilience. Like any other regulated bank, we need to make sure we’re identifying the right risks and growing in control, but we want to do so whilst continuing with our agile “test and learn” approach to launching products.

You will build and support the implementation and day-to-day management and oversight of the operational risk framework, provide guidance on risk events, support risk assessments and scenario analysis. The role presents a great opportunity to focus on the management of operational risk, and become a trusted second line risk partner to different areas across the business, including the Finance team.

You’ll play a key role by...

• Acting as the dedicated 2LOD Operational Risk business partner to a selection of business areas including Finance.
• Supporting 1LOD in identifying, assessing and managing operational risks across key processes, including financial reporting, treasury operations & management, planning & forecasting and regulatory reporting.
• Conducting reviews of Pillar 2A assessments and regulatory submissions as part of the ICAAP.
• Supporting our risk leadership team by leading on key projects that have an impact across the business
• Supporting the implementation and operation of Monzo’s risk management framework, including oversight and challenge of the risk and control self assessment process and outputs
• Partnering with teams to help develop new products and features by embedding good risk practices
• Providing challenge, oversight and support on your business areas’ operational risk profile and adherence to the Operational Risk Management Framework including:
• Providing risk input on change initiatives impacting Finance and other business areas
• Ensuring risk and controls considerations are embedded into design and delivery
• Being responsible for ensuring several components of the Operational Risk Management Framework are adhered to by designing and conducting the approach to oversight.
• Partnering with teams to help develop new products and features by embedding good risk practices
• Managing and following up on risk events that happen at Monzo, partnering with teams to find solutions and identify risks and controls
• Conducting in-depth reviews of different areas of the business, their adoption and implementation of technology, regulatory compliance and reporting on operational risk matters to oversight committees
• Reviewing and assessing changes to operational processes that impact on our company risk profile
• Promoting and helping embed a strong risk culture, making risk meaningful and relevant to everyone at Monzo. You will share best practice that it is easy for everyone to understand

We’d love to hear from you if…

• You have worked in a second line of defence role in banking, financial services or risk consultancy
• You have a good understanding of Finance processes, including financial & regulatory reporting, treasury and forecasting & planning
• You have experience supporting risk assessments and/or operational risk event capture and analysis
• You’re resilient and comfortable working in a fast paced environment where the day to day job differs
• You are hands-on, a strong influencer, stakeholder manager, great at execution, and focussed on the detail
• You’re curious and collaborative; great at execution, focussed on the detail and great at asking incisive questions, intuitive, take ownership and able to act quickly
• You’re open and willing to apply your Operational Risk knowledge to new challenges, and undertake learning opportunities.
• You’re motivated by Monzo’s mission of ‘making money work for everyone’ by reimagining banking through the use of modern technology

What’s in it for you

£85,000 - £105,000 share options.

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 3 key steps

• Initial Call with Hiring Manager
• Role Specific Interview
• Behavioural Interview

This process should take around 2-3 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.

#LI-TK1 #LI-Remote

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