Senior Financial Risk Manager

📍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.g. product launches, balance sheet optimisation)

Governance & Committees

• Supporting preparation of materials for ALCO and Executive and Board Risk Committees
• Presenting technical analysis and insights where required
• Supporting escalation and documentation of key financial risk issues

Regulatory & Control Environment

• Ensuring alignment with CBI, EBA, and other applicable prudential regulations alongside internal financial risk frameworks and policies
• Supporting adherence to fitness & Probity standards and individual Accountability Framework (IAF) Conduct Standards
• Maintaining high standards of documentation, controls, and audit readiness

🤩 We’d love to hear from you if you have……

• Strong technical expertise in one or more of IRRBB modelling and measurement, capital adequacy and ICAAP, liquidity risk and ALM
• Experience in model validation, quantitative analysis, or risk methodology development
• Deep understanding of prudential regulation (CRR/CRD, EBA guidelines, ICAAP/ILAAP expectations)
• Strong analytical and problem-solving skills with attention to detail
• Ability to challenge effectively and communicate complex concepts clearly to senior stakeholders
• Experience working with Treasury, Finance, or Risk teams in a banking environment

🙌What’s in it for you

💰A salary range of €92,000 - €112,000 ➕Incentive Awards tied to your performance.

📍This role will have a hybrid working model, based in our Dublin office 2 - 3 days a week.

⏰We offer flexible working hours and trust you to work enough hours to do your job well, and at times that suit you and your team. 

🏝 Annual Leave - 34 days including public holidays (24 holiday days + 10 public holidays)

📚€1,200 learning budget each year to use on books, training courses and conferences.

🏥Private healthcare scheme

💰Pension scheme: the minimum contribution is 4% and Monzo matches any additional contributions that you make up to a maximum of 6%

💛Wellbeing benefits: financial education, women’s and men’s health support, mental health benefits, including coaching and counselling

🌈 The application journey has 4 key steps

• An introductory call with a member of the Monzo Recruitment team
• An initial call with the hiring manager
• A series of role specific, behavioural & leadership principles interviews
• Final stage interview

This process should take around 3-4 weeks - your schedule is really important to us, so we promise to be as flexible as possible! 

We have some guidelines on using Artificial Intelligence (AI) to ace an application and interview at Monzo. You can read them here.

We’ll only close this role once we have enough applications for the next stage. Please submit your application as soon as possible to make sure you don’t miss out. 

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