Treasury Risk Manager
📍London/Remote |💰£60,000 - £80,000 + Benefits
We’re here to make money work for everyone and we're doing things differently. For too long, banking has been obtuse, complex and opaque.
We want to change that and build a bank with everyone, for everyone. Our amazing community suggests features, test the app and give us constant feedback so we can build something everyone loves.
We're focused on solving problems, rather than selling financial products. We want to make the world a better place and change people's lives through Monzo.
About our Team:
Our Prudential Risk Team is growing and we’re looking for a Treasury Risk Manager to join us within the 2nd Line of defence risk team. The role is responsible for working closely with our 1st line Treasury team to support the safe growth of Monzo, and associated Treasury activities. This is an exciting opportunity that will offer the chance to support Monzo as they grow and increase the sophistication of our Balance Sheet Management.
A key aspect of the role will be the oversight of Wholesale Credit Risk related activities. This will involve oversight responsibilities in counterparty credit assessments, supporting Treasury as they onboard new wholesale market products, monitoring of the portfolio and emerging credit risks.
The role will also cover the oversight of Market and Liquidity Risk. Responsibilities within this discipline will include ensuring the accurate reporting of relevant metrics and compliance with risk appetite, review of the ILAAP and relevant sections of the ICAAP, and understanding the key drivers of Monzo’s ALM risks in order to help drive the appropriate management of these risks.
Ideally you will have a strong working knowledge across multiple areas of Treasury Risk management, with a specialism in one of the areas of IRRBB, Liquidity Risk or Wholesale Credit Risk. Previous experience of risk oversight or management in relation to the wholesale products typically used by a bank Treasury is desirable.
- Write counterparty credit assessments for proposed Treasury investments, ensuring that potential risk exposures align to Monzo’s appetite.
- Monitor and analyse wholesale credit risk KRIs and risk appetite metrics, including Credit Spread Risk in the Banking Book (CSRBB).
- Implement and support the risk management of new Retail and Treasury products.
- Utilise the newly implemented TMS/ALM software to produce key information to monitor Treasury risks, whilst ensuring risks are accurately modelled and reported.
- Monitor, challenge and develop the reporting and assessment of Liquidity Risks. Develop an in-depth understanding of the drivers of Monzo’s LCR and NSFR metrics, internal liquidity risk appetite and liquidity stress testing.
- Oversight and review of the ILAAP and ICAAP regulatory submissions.
- Monitor, challenge and develop the reporting and assessment of IRRBB and other market risks. Develop an in-depth understanding of the drivers of Monzo’s value and income based metrics, basis risk and FX risk.
- Make sure Monzo risk framework is adhered to, and that the right controls and policies are in place to implement this.
- Monitoring of Treasury compliance with applicable regulations.
- Develop strong relationships with colleagues to support the ongoing development of Treasury management.
You should apply if you:
- Have Treasury Risk (including Wholesale Credit Risk) experience at either a bank, a consultancy or a regulatory body.
- Have good knowledge of the products used in Treasury risk management including bonds and derivatives.
- Have some knowledge or experience of ALM within a bank, and liquidity risk management.
- Are comfortable working in a fast paced environment and being flexible with priorities changing.
- Are interested in identifying relevant data, performing analysis and understanding the impact on our bank.
- Are able to work independently, proactively and enjoy a dynamic and changing environment.
- Are keen to learn about and work on areas of Treasury Risk that you may not have previously explored, particularly in the context of a new bank.
- Have experience building strong relationships with stakeholders at all levels within the business.
- Have a strong written communication style and are able to explain complex topics succinctly.
The interview process:
Our interview process involves 3 main stages:
- Recruiter call
- Initial call with the hiring manager
- 2-3 calls with various stakeholders
What’s in it for you:
📍This role can based in our London office (hybrid) or remote
⏰ We offer flexible working hours and trust you to work enough hours to do your job well, at times that suit you and your team.
📚 Learning budget of £1,000 a year for books, training courses and conferences
➕ And much more, see our full list of benefits here
If you prefer to work part-time, we'll make this happen whenever we can - whether this is to help you meet other commitments or strike a great work-life balance.
Equal Opportunity Statement
We are actively creating an equitable environment for every Monzonaut to thrive.
Diversity and inclusion are a priority for us and we are making sure we have lots of support for all of our people to grow at Monzo. At Monzo, embracing diversity in all of its forms and fostering an inclusive environment for all people to do the best work of their lives with us. This is integral to our mission of making money work for everyone. You can read more in our blog, 2022 Diversity and Inclusion Report and 2022 Gender Pay Gap Report.
We’re an equal opportunity employer. All applicants will be considered for employment without attention to age, ethnicity, religion, sex, sexual orientation, gender identity, family or parental status, national origin, or veteran, neurodiversity or disability status.