Requirements: English
Company: WhatJobs
Region: Basel , Basel-City
Were on a mission to make money work for everyone.
Were 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!
Were not about selling products - we want to solve problems and change lives through Monzo.
Monzo Europe is an Irish-based subsidiary of the Monzo Group which will, upon authorisation, be the base for Monzos expansion as a bank in the European Union. We are looking for an experienced Director of Financial Risk to lead the development, implementation and oversight of the bank''s financial risk frameworks in Europe. The Director will provide 2nd line oversight of financial risk policies, models, and including capital adequacy, funding, liquidity, and non-traded market risk. This role reports to the Chief Risk Officer, Monzo Europe.
Youll play a key role by working on...
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 the financial risk appetite in line with strategic objectives and regulatory expectations.
- 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.
- Oversee the review and validation of financial risk models, including IRRBB, investment risk, and hedging strategies.
- Review and ensure the accuracy and compliance of financial regulatory submissions, including ICAAP, ILAAP, Recovery Plan and Solvent Wind Down Plans.
- Support financial planning and forecasting, capital planning, stress testing, and balance sheet projections under base and stress case scenarios.
- Oversee regulatory reporting and Pillar 3 disclosures, ensuring compliance with prudential regulations.
- Review and provide oversight of treasury activities, including balance sheet management, wholesale credit risk assessments and front office execution.
Leadership:
- Establish and lead the Financial Risk management function ensuring effective delivery through adequate resourcing, processes and technology in Europe.
- 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 expert guidance and strategic recommendations to senior management and the Board on credit and financial risk matters, enabling informed decision-making.
- Engage with key internal and external stakeholders, including Group functions and external regulators, to ensure that the banks financial risk management practices are aligned, transparent, effective, and compliant.
- Establish a robust financial risk management culture through comprehensive training and awareness programmes.
- Report to the Board and Executive-level Committees on financial risk control effectiveness.
- Contribute to the second line Risk Leadership Team (RLT), fostering a collaborative environment across the organisation.
- Ensure Financial Risk Management Frameworks, Policies, and Standards in Europe take account of the Monzo Group activities.
Wed love to hear from you if you:
- Hold extensive experience in financial risk management within a banking environment, and with considerable experience in a leadership role.
- Strong knowledge of counterparty credit risk, financial risk management, prudential regulation, and regulatory requirements (CBI, EBA, ECB/SSM, Basel, etc).
- Excellent analytical skills, strong leadership and communication abilities, and proficiency in economic capital, financial modelling, stress testing and counterparty credit risk measurement tools.
- Excellent verbal and written communication skills, with the ability to influence and engage senior stakeholders.
- Thrive in a fast-paced environment, handling complexity with ease and communicating effectively.
- Are passionate about financial technology and motivated by the opportunity to be at the forefront of banking transformation in Ireland and the EU.
- You have experience setting up and running financial risk functions in Ireland / the EU.
Whats in it for you:
This role will be based in Dublin, Ireland, however you will be expected to travel to Monzos head offices in London from time to time.