Group Risk Senior Oversight Manager, Monzo

£85-100k

+ Share Options

Senior and Expert level
London
Remote from UK

More information about location

Monzo

Digital-only bank platform and marketplace

Job no longer available

Monzo

Digital-only bank platform and marketplace

1001+ employees

FintechB2CB2BBankingMarketplacePersonal financeFinancial ServicesMobile

Job no longer available

£85-100k

+ Share Options

Senior and Expert level
London
Remote from UK

More information about location

1001+ employees

FintechB2CB2BBankingMarketplacePersonal financeFinancial ServicesMobile

Company mission

To build a new kind of bank that makes money work for everyone.

Role

Who you are

  • Experienced in risk management - you know what good looks like and you’re confident in bringing that to Monzo
  • Experienced in managing risk within a Group setting
  • Highly numerate, with financial knowledge and experience of prudential risk management, including retail bank capital regulation
  • Great at stakeholder management at all levels across the company, able to role model an effective working relationship between the 1 & 2 LOD
  • Experienced and effective at prioritisation at a tactical and strategic level
  • An excellent communicator, written and verbal, in line with our Monzo Tone of Voice
  • A role model for our values & behaviours
  • A nimble business mind with a focus on developing creative solutions
  • A financial qualification would be beneficial e.g. ACA, CIMA, ACCA, ACT, CFA etc

What the job involves

  • This person will be responsible for the Oversight of Group Risks at Monzo
  • Your primary responsibility will be overseeing Group risks (e.g. Financial risks), writing frameworks and making sure our Enterprise Risk Management Framework is implemented consistently across the Group
  • Providing risk oversight over Monzo’s Group risks, providing insightful analysis and both support and challenge to 1LoD plans and actions. This will mainly involve Strategic and Financial risk oversight
  • Review and challenge of the Group’s consolidated financial position via capital and liquidity assessments, regulatory reporting and risk appetite monitoring
  • Oversight of strategic and financial aspects of corporate development activity to support Group growth ambitions
  • Providing risk oversight over our Enterprise Risk Management Framework, making sure that it is implemented consistently across the Group
  • Providing oversight opinions for Group risk committees and supporting the preparation of the Group CRO’s risk reports
  • Setting our Group risk oversight plan with input from the Group and subsidiary Chief Risk Officers

Application process

  • Recruiter call (potentially followed by an initial call)
  • First stage - 1 hour role specific interview
  • Second stage - 1 hour behavioural interview
  • Our average process takes around 3-4 weeks but we will always work around your availability

Salary benchmarks

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Insights

Top investors

42% female employees

19% employee growth in 12 months

Company

Company benefits

  • Yearly Salary Review + Proactive pay increases to reflect growing responsibilities + Share options
  • Flexible working hours
  • Work From Home Opportunities + we'll pay for any equipment you need to do your job
  • 24 days holiday a year, plus bank holidays
  • Paid sick leave for both physical & mental health + Health insurance via AXA or Vitality + Additional health insurance through Medicash
  • Employee Assistance Programme
  • Learning budget of £1,000 a year
  • Aviva Pension Scheme + 4% Employer Contribution
  • Paid maternity, paternity, adoption or shared parental leave (after 13 weeks of employment)
  • 52 weeks of primary caregiver leave (6 months at 100% pay, 13 weeks at Statutory Maternity Pay, 13 weeks unpaid)
  • 3 months of secondary caregiver leave at 100% pay
  • Unum Life Insurance
  • Access to fertility and family-forming health benefits via Fertifa
  • Abellio Season Travel Tickets + Cycle-to-Work Scheme

Funding (last 2 of 18 rounds)

May 2024

$190m

LATE VC

Mar 2024

$453m

LATE VC

Total funding: $1.9bn

Our take

Monzo is a challenger bank that fully operates online and offers a full range of current, savings, business accounts, and more. The speed of the challenger banks to provide a great experience has been impressive, and the number of competitors appearing has proven the consumer desire for innovation.

Monzo remains one of the popular online banks, with more than 6 million customer active users. The company faces competition as more traditional banks, such as Goldman Sachs and JP Morgan, have launched their own digital banks. However, the new technologies that the company is built on enable it to expand quickly (with fewer issues) than the incumbent players' offerings.

With an increasing amount of people switching banks, the company's ever-expanding suite of banking and financial services (such as its buy-now-pay-later offering) has resulted in Monzo receiving the second-highest net switching gains among digital challenger banks (just behind Starling).

After setting U.S. expansion plans aside in 2020, the company launched in the U.S. market in early 2022, partnering with Sutton Bank to provide its U.S. accounts. After several years focused on narrowing its losses, Monzo hit profitability in the first two months of 2023. In the same year, 2 million new customers joined, tallying its customer base at 9 million in 2024.

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Kirsty

Company Specialist at Welcome to the Jungle