Prudential Regulatory Manager

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 as personal 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 and combine 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 or Remote | From £78,200 depending on experience + options + Benefits | Hear from the team

Our Finance team
Our finance team is growing and we're looking for a Financial Risk Manager to join us. This role is responsible for understanding our prudential regulatory requirements and will have a primary focus on leading our Internal Capital Adequacy Assessment Process (ICAAP) and enhancing our prudential analysis capabilities.

You will collaborate with teams across the bank to ensure Monzo is protected from financial stress and manages its capital resources effectively.

You will need deep expertise and a breadth of knowledge in prudential regulation. Your core strength will be in capital adequacy assessment, evidenced by a strong, specialist knowledge of the ICAAP and its associated prudential deliverables. You will have the proven ability to lead the production of these deliverables, independently interpret a range of regulations, determine their impact on the bank, and manage implementation projects. Experience with recovery and resolution planning and reverse stress testing (RST) is beneficial, but the primary focus is on capital.

As part of Monzo's Financial Risk team, you'll be central to the decisions around the allocation of capital, which is key to Monzo achieving its strategy. This is an exciting and broad role for an individual looking to build their experience and influence the direction of a unique, fast-growing business. You will need great financial analysis skills and the ability to support a wide range of stakeholders.

You'll play a key role by...

• Leading the annual ICAAP production, coordinating inputs from across the bank, performing deep prudential analysis, and delivering the final submission.
• Supporting the delivery of other prudential submissions across the banking group, including recovery planning, resolution framework and reverse stress testing (RST).
• Identifying the impact of prudential regulatory change, particularly relating to capital and liquidity, and supporting relevant teams to assess and adapt.
• Partnering with teams internally (such as Treasury, Credit Risk, and Finance) to help them make informed business decisions on capital allocation and risk management.
• Designing brilliant ways to automate our work and leveraging technology to ensure our prudential analysis and reporting scales with the business.
• Liaising with teams across the bank including product, borrowing, finance, operational resilience, legal and risk.

We'd love to hear from you if you…

• Have prudential regulatory experience (at a bank, consultancy, or regulatory body) , including strong knowledge of relevant requirements and the ability to interpret what they mean for the unique circumstances of a fast-growing new bank.
• Have the ability to coordinate, participate and lead projects to produce regulatory deliverables and maintain the Bank's set of prudential documentation and supporting materials.
• Are interested in identifying relevant data, performing analysis and understanding the impact on our bank.
• 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 new bank.
• Have experience building strong relationships with stakeholders at all levels within the business.
• Have strong written and verbal communication skills.

What's In It For You
From £78,000 depending on experience share options.

This role can be based in our London or Cardiff offices, or be distributed working within the UK (with ad hoc meetings in London)

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.

Plus lots more Read our full list of benefits.

The application journey has 4 key steps

• Phone call with Recruiter (30 mins)
• Video call with Hiring Manager (30 mins)
• Technical video call with Hiring manager & Stakeholder (60 mins)
• Behavioural interview (45 mins)

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'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.

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