Senior Financial Risk Manager

About the role

🚀 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 ❤️ 📍Dublin, Ireland | 💰 €92,000 - €112,000, Incentive Awards tied to your performance ➕benefits | Hear from the team ✨ ⭐Our Risk team This role sits within our 2nd line of defence risk management team. Acting as a senior technical specialist within the Financial Risk function, it will involve supporting the Director in delivering robust oversight across several financial risk disciplines. The role has a strong focus on IRRBB, capital adequacy and stress testing (ICAAP), and liquidity and balance sheet risk (ALM), ensuring that frameworks, models, and methodologies are fit-for-purpose, compliant, and aligned with regulatory expectations. The role you are applying for is a Controlled Function (CF-2) within the meaning of the Central Bank Reform Act, 2010. For this role, appointment will be conditional on Monzo being fully satisfied that the appointee meets the requirements as set out in the Fitness and Probity Standards issued by the Central Bank of Ireland. As a CF, the role holder will be subject to Conduct Standards under the Central Bank of Ireland Individual Accountability Framework (IAF) and will be required to take reasonable steps to ensure that the relevant conduct standards are met. 🔑You'll play a key role by... Driving delivery of the Financials Risk Functions objectives across the following areas of responsibility: Technical Leadership - Financial Risk Models & IRRBB Leading independent 2LoD validation and review of financial risk models, with a focus on; Interest Rate Risk in the Banking Book (IRRBB), behavioural models (e.g. deposits, prepayments) and hedging strategies and valuation approaches Assessing model design, assumptions, limitations, and performance, ensuring alignment with regulatory expectations (e.g. EBA IRRBB guidelines) Providing independent technical challenge to first line model development and usage Overseeing overarching model governance, including validation cycles, documentation standards, and model risk controls Supporting development and enhancement of IRRBB measurement methodologies (e.g. EVE, NII metrics) Capital Adequacy, ICAAP & Stress Testing Playing a leading role in ICAAP development, review, and ongoing enhancement Providing independent oversight and challenge of; capital adequacy assessments, risk quantification methodologies, scenario design and stress testing frameworks and risk appetite calibration Designing and reviewing stress testing scenarios (macroeconomic, idiosyncratic, reverse stress) Assessing capital planning and forecasting, including base and stressed balance sheet projections Ensuring ICAAP documentation meets regulatory standards and audit expectations Supporting interactions with regulators on capital-related topics Liquidity Risk & Treasury Oversight (ALM) Providing 2LoD oversight of liquidity risk and funding frameworks, including ILAAP and liquidity risk metrics (LCR, NSFR, survival horizon) Reviewing and challenging Treasury activities, including; balance sheet management, funding strategies and wholesale credit exposures Assessing assumptions underpinning liquidity stress testing and contingency funding plans Providing oversight of ALM practices, including interest rate positioning and structural hedging Supporting review of Recovery Plan and Solvent Wind Down (SWD) from a liquidity and funding perspective Risk Monitoring, Reporting & Regulatory Submissions Leading production and independent review of financial risk MI (capital, liquidity, IRRBB), stress testing outputs and sensitivity analysis Reviewing and challenging key regulatory submissions, including; ICAAP and ILAAP, pillar 3 disclosures, recovery plan and SWD Ensuring data integrity, traceability, and auditability of risk outputs Identifying emerging risks and escalate material issues appropriately Business Partnering & Expert Challenge Acting as a technical advisor to Treasury, Finance, and Risk teams Providing credible and constructive challenge on methodologies, assumptions, and decision-making Supporting the embedding of robust financial risk practices across the organisation Contributing technical expertise to strategic initiatives (e.

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