Director of Operational Risk & Enterprise Risk Management
Join Monzo Bank as the Director of Operational Risk & Enterprise Risk Management.
The role is based in our Dublin office, a hybrid model 2–3 days a week with occasional travel across the EU.
Competitive salary, share options, private healthcare, pension, annual leave and learning budget provide a comprehensive benefits package.
Overview
Monzo Bank Europe is an Irish-based subsidiary that drives Monzo's expansion across the EU.
We are seeking a seasoned Director to lead the development, implementation and oversight of risk frameworks in Europe.
Reporting to the Chief Risk Officer, the incumbent will provide second‑line oversight of key operational risks, including ICT, Information Security, Payments and Third‑Party and Outsourcing risks, while maintaining EU enterprise risk governance standards.
Responsibilities
Operational Risk Management
Develop, implement and maintain the EU Operational Risk Framework aligned with Monzo Group strategy.
Formulate and oversee the operational risk appetite, ensuring alignment with strategic objectives.
Lead governance of operational risk policies, performing assurance testing to validate implementation.
Lead scenario analysis and validate internal operational risk capital models to ensure capital adequacy.
Implement advanced monitoring and Management Information processes, including KRIs and KCIs.
Provide second‑line (2 Lo D) oversight across ICT, Information Security, Payments and Third‑Party/Outsourcing risks.
Oversee end‑to‑end collection and analysis of operational loss and incident data, driving root‑cause analysis.
Lead the review and oversight of operational resilience initiatives, ensuring compliance under DORA and local regulations.
Enterprise Risk Management (ERM)
Implement and evolve the Bank's Risk Strategy and Framework to provide a comprehensive, end‑to‑end view of operations.
Formulate and maintain the Bank's Risk Appetite Framework and Statement (RAS).
Lead end‑to‑end Risk Governance cycles, including preparation, management and execution of the Executive Risk Committee (ERC).
Design, coordinate and maintain the risk assessment process, ensuring robust risk and control identification.
Design and lead a proactive Emerging Risk process, identifying and assessing long‑term external threats.
Own and maintain the EU Risk Taxonomy, Risk Register and Impact Matrix.
Promote a robust risk culture across the organisation, embedding risk awareness and accountability.
Prepare and present holistic risk reports to the Board and Executive Committees.
Design and execute targeted risk training programmes for all employees.
Lead the 'Office of the CRO', overseeing resource planning, budgeting and secretariat services.
Leadership
Establish and lead the Operational and Enterprise Risk function in Europe.
Partner closely with first‑line leaders to embed robust risk management into daily operations.
Ensure European Risk frameworks, policies and standards harmonised with Monzo Group activities.
Serve as a key member of the second‑line Risk Leadership Team.
Spearhead a proactive risk management culture through training and awareness programmes.
Qualifications
At least 10 years of experience in Operational and Enterprise Risk Management within a banking environment, including a minimum of 5 years in a significant leadership capacity.
Strong subject matter expertise across ICT, Information Security, Third Party and Outsourcing, Payments and Business Continuity, with proven navigation of CBI, EBA, and ECB/SSM regulatory landscapes.
Proficiency in the full risk toolkit, including RCSA, KRIs/KCIs, Control Testing and Scenario Analysis, alongside core ERM processes.
Detailed understanding of digital banking products and the unique risk/control challenges inherent in high‑growth fintech operations.
Exceptional communication skills with the ability to influence senior executives and board‑level stakeholders.
Ability to thrive in a fast‑paced, evolving environment, translating complex risk concepts into actionable business insights.
Passion for fintech and drive to lead Monzo's expansion across Ireland and the EU.
Experience setting up and running operational risk and outsourcing in Ireland/EU.
Previous PCF role or equivalent with a financial services institution in Ireland or equivalent jurisdiction.
Benefits
Competitive salary and share options.
Hybrid working model based in our Dublin office.
Flexible working hours and trust to work to your own rhythm.
Annual leave - 34 days including public holidays.
€1,200 learning budget each year.
Private healthcare scheme.
Pension scheme with Monzo matching up to 6%.
Wellbeing benefits covering financial education, mental health support and more.
Application Process
Introductory screening call with a member of the hiring team.
Initial call with the hiring manager.
Series of interviews assessing technical, behavioural and leadership skills.
This process should take around 2‑3 weeks and we promise to be as flexible as possible.
Applications will be considered until we have enough candidates for the next stage.
If you're successful, we'll work with you to find a suitable start date.
Equal Opportunity
Monzo is an equal opportunity employer.
All applicants will be considered without attention to age, ethnicity, religion, sex, sexual orientation, gender identity, family or parental status, national origin, or veteran, neurodiversity or disability status.
We encourage applicants to use a preferred name at the application stage.
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