[Remote] Prudential Regulatory Manager at Monzo

Cardiff, Wales, United Kingdom

Apply Now

Not SpecifiedCompensation

Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Fintech, BankingIndustries

Requirements

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
Deep expertise and breadth of knowledge in prudential regulation, with core strength in capital adequacy assessment and strong, specialist knowledge of the ICAAP and its associated prudential deliverables
Proven ability to lead the production of ICAAP and other prudential deliverables, independently interpret a range of regulations, determine their impact on the bank, and manage implementation projects
Ability to coordinate, participate and lead projects to produce regulatory deliverables and maintain the Bank’s set of prudential documentation and supporting materials
Great financial analysis skills and the ability to support a wide range of stakeholders
Interest in identifying relevant data, performing analysis and understanding the impact on the bank
Experience with recovery and resolution planning and reverse stress testing (RST) is beneficial

Responsibilities

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 work and leveraging technology to ensure prudential analysis and reporting scales with the business
Liaising with teams across the bank including product, borrowing, finance, operational resilience, legal and risk
Collaborating with teams across the bank to ensure Monzo is protected from financial stress and manages its capital resources effectively

Skills

ICAAP

Prudential Regulation

Capital Adequacy Assessment

Financial Risk Management

Recovery Planning

Resolution Planning

Regulatory Interpretation

Monzo

Digital-only banking platform for consumers

About Monzo

Monzo operates as a digital-only banking platform focused on providing a modern way for individuals to manage their finances. Its main product is a mobile app that allows users to track their income, spending, and savings easily. The app includes features that help users save money, such as automatically setting aside a portion of their paycheck or rounding up transactions to the nearest dollar. Monzo generates revenue through interest on deposits, fees for certain services, and interchange fees from card transactions, as well as offering overdrafts and personal loans. What sets Monzo apart from traditional banks is its real-time balance updates and instant spending notifications, which help users stay informed about their finances. The goal of Monzo is to provide a convenient, mobile-first banking experience that meets the needs of its growing customer base, which has surpassed 8 million users.

London, United KingdomHeadquarters

2015Year Founded

$1,856.7MTotal Funding

LATE_VCCompany Stage

Fintech, Financial ServicesIndustries

1,001-5,000Employees

Benefits

Competitive salary

Flexible working hours

Work from home

Stock options

32 days of paid vacation and public holidays per year

Health insurance

EAP

Learning budget

Home office stipend

Paid parental leave

Risks

Monzo breached UK banking regulations, risking reputational damage and fines.

Expansion into Europe poses regulatory challenges and potential licensing delays.

Reliance on digital platforms makes Monzo vulnerable to technological disruptions.

Differentiation

Monzo offers real-time spending updates and categorized transactions via a mobile app.

The 'Pots' feature allows users to set aside money for specific purposes.

Monzo Plus provides premium features like custom card designs and travel insurance.

Upsides

Monzo secured $400M in 2024, valuing the bank at $5 billion.

The partnership with SignLive enhances accessibility for Deaf customers.

Expansion into Europe in 2025 could significantly increase Monzo's customer base.

Land your dream remote job 3x faster with AI

Try Jobo Free