**Director of Financial Risk: Leading Monzo's European Expansion**
Dublin, Ireland is home to Monzo Europe, an Irish-based subsidiary of the Monzo Group. As we prepare for expansion as a bank in the European Union, we are seeking an experienced Director of Financial Risk to lead the development, implementation and oversight of the bank's financial risk frameworks in Europe.
The ideal candidate will provide 2nd line oversight of financial risk policies, models, including capital adequacy, funding, liquidity, and non-traded market risk. This role demands a deep understanding of counterparty credit risk, capital adequacy, funding and liquidity, and prudential regulation.
Key Responsibilities:
* 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 Financial Risk Appetite: Define the financial risk appetite in line with strategic objectives and regulatory expectations.
* Oversight of Capital Adequacy: 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.
* Review and Validation of Financial Risk Models: Oversee the review and validation of financial risk models, including IRRBB, investment risk, and hedging strategies.
* Regulatory Reporting: Review and ensure the accuracy and compliance of financial regulatory submissions, including ICAAP, ILAAP, Recovery Plan and Solvent Wind Down Plans.
* Support Financial Planning: Support financial planning and forecasting, capital planning, stress testing, and balance sheet projections under base and stress case scenarios.
Leadership:
* Establish Financial Risk Management Function: Establish and lead the Financial Risk management function ensuring effective delivery through adequate resourcing, processes and technology in Europe.
* Collaborate with Senior Leaders: 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 Strategic Guidance: Provide expert guidance and strategic recommendations to senior management and the Board on credit and financial risk matters, enabling informed decision-making.
* Engage with Stakeholders: 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.
We're looking for someone with extensive experience in financial risk management within a banking environment, and with considerable experience in a leadership role. If you have a strong knowledge of counterparty credit risk, financial risk management, prudential regulation, and regulatory requirements, we'd love to hear from you.
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, annual leave, healthcare allowance, personal retirement savings account, and more. The application journey has 5 key steps, and our average process takes around 3-4 weeks.