Operational Risk Lead
We’re looking for an Operational Risk Lead to join our second line of defence and shape how operational risk is delivered across Monzo.
Monzo has been growing rapidly over the last year, and we are just starting!
We believe there’s a better way to do banking
We really care about providing a phenomenal experience for our customers, and we want to be the best possible bank without getting stuck in the old ways of doing things.
We’re at the start of our journey to serve a billion customers
We’ve made some good progress so far! We now have more than 800 staff, two million lovely customers and a full UK banking licence. We have a current account and overdraft, and lots more planned.
We need to carefully manage the risks we face
Like any other regulated bank, we need to make sure we’re compliant, but we want to do so whilst continuing with our agile “test and learn” approach. Unlike traditional banks operational risks are more significant than credit risk at this point and we need to build out the team. We’re looking for someone with operational risk experience who is also pragmatic and understands fintech.
You’ll spend your time:
- working closely with the first line of defence to capture and rate different types of operational risk in a way that is meaningful and useful
- coaching colleagues across the first line to design, implement, document, and regularly review corresponding controls
- leading a small team of second line of defence operational risk colleagues
- monitoring and measuring operational risk against agreed risk appetite and KRIs
- enhancing capture of operational risk loss data
- preparing management information (MI) for the teams, accountable senior managers, executive-level Risk Council and Board-level Risk Committee
- inputting into stress and scenario analysis of operational risk events
- making risk meaningful and interesting to everyone at Monzo, and sharing best practice whilst adapting the language you use to speak about risk so that it is easy for everyone to understand
- taking a sensitive, balanced approach to risk management, and making sure managing risks becomes part of each first-line person’s day to day work
You should apply if:
- you have experience of operational risk, including industry best practices e.g. RCSA, and a willingness to do things differently
- you can summarise your analysis into the salient key points and explain it to others in plain English
- you’re passionate about technology, and what we are doing here at Monzo excites you!
These aren’t essential, but we’d also love it if you:
- experience of technology risk, operational resilience and IT security and how this interacts with operational risk
- understanding of outsourcing risk with third parties