We are looking for a Deputy CRO to join the team at Monzo. We’re a small team (around 90 people) working to create a bank with and for our customers, a bank that you'd be proud to be a part of.
As our Deputy CRO, you’ll work closely with our Chief Risk Officer, who reports to the CEO and to the Chairman of the Risk Committee (who is an independent non-executive Director).
Our second-line team is currently three people: CRO, Head of Compliance, and Head of Risk.
Your responsibilities:
- Shape and embed our risk appetites: you’ll get a deep understanding of our strategy, and ensure that our appetite for risk in each area of the business is developed in alignment with this.
- Work with each team to ensure the risks they are taking are aligned with our risk appetite - whether this is low, moderate or high!
- Help us define our technology risk appetite: both how to set one in a technologically focussed bank, and what ours is.
- Direct the way that we think about risk and compliance: both working with the rest of the senior leadership team to lead our approach
- Make risk meaningful and interesting to everyone in the company: leading internal knowledge-sharing sessions that are open to everyone; helping function leads and team leads to understand and appreciate the benefits of managing their risks well; making sure managing risks becomes part of each first-line person’s day to day work.
- Take a sensitive, balanced approach to risk management: sharing best practices; adapting the language you use to speak about risk so that it is comprehensible and natural for others in the team.
- Advising on controls: ensuring our controls dashboard has useful content; making sure that each team has aligned their risk controls with metrics they care about in the course of their work.
- Make sure that our framework for managing risks is well understood through the company, proportionate, and used.
With the support and guidance of our CRO, the Board and executive team, we’d expect you to grow into the CRO role, and succeed our current CRO when their contract expires. This means that, in time, you would:
- assume the Chief Risk function (SMF4), and ideally Compliance Oversight (SMF16) and Money Laundering Reporting (SMF17), all subject to regulatory approval.
- join our leadership team and become a key contributor to our weekly Executive Committee meetings.
- become responsible for setting the agenda for our Board Risk Committee.
Who we’re looking for:
- You are hands-on, great at execution, and care about the day to day detail.
- You’re curious and collaborative - you’re great at asking incisive questions and quick to understand.
- You’re great at bringing risk to life, and making it meaningful to people from very different backgrounds: you pick up others’ language and adapt to that, rather than imposing risk language into their vocabulary (e.g. ‘code review’ vs ‘change management’)
- You stand by your principles even when it’s challenging - you’re happy swimming in the opposite direction to everyone else and bringing constructive challenge when it is the right thing to do.
- You have a background in risk in a closely regulated industry.
- You have experience managing:
1. Operational risk
2. Technology risk
3. Conduct risk
4. Credit risk
(market or liquidity risk experience is much less relevant to our business strategy)
We’d be particularly excited if you also have:
- risk experience in personal financial services
- familiarity with the ICAAP process
- previously held a Senior Management Function or Approved Person role.
