Director of Operational & Enterprise Risk

🚀 We’re on a mission to make money work for everyone.

Operational Risk Management:

• Develop, implement, and maintain the EU Operational Risk Framework, ensuring it supports the overall risk strategy in Europe.
• Define and oversee the operational risk appetite, ensuring it aligns with strategic objectives and goals.
• Lead the assessment of operational risks and controls, ensuring comprehensive risk identification and mitigation in place and there is appropriate reporting to the Board and Executive-level committees of the operational risk profile of the organisation. 
• Implement robust operational risk monitoring, reporting, and management information (MI) processes to support decision-making.
• Provide independent oversight of operational risk areas including IT, information security, payments, third-party and outsourcing risks.
• Oversee the validation of internal operational risk capital models to ensure accuracy and compliance.
• Oversee the collection, analysis, and reporting of operational loss and incident data, ensuring timely and accurate recording.
• Drive scenario analysis and internal capital analysis to assess potential operational risk impacts on internal capital requirements.
• Oversee the implementation of operational risk policies and standards, ensuring they are up-to-date and reflective of best practices.
• Design, maintain and coordinate the Risk and Control Self Assessment (RCSA) process, ensuring risks are accurately assessed and appropriate controls are in place.
• Produce Operational Risk Management Information (MI) highlighting the status of the operational risk profile including analysis of key risk and control indicators (KRIs & KCIs).
• Track and monitor key operational risk incidents and losses, conduct root cause analysis and review actions to improve effectiveness of controls.
• Manage operational resilience activities, including adherence to the Digital Operational Resilience Act (DORA).

Enterprise Risk Management (ERM):

• Implement and maintain the EU Enterprise Risk Management Framework, ensuring it encompasses all aspects of operations and is aligned with the strategic goals and objectives in Europe.
• Define and maintain the EU Risk Appetite Framework and Statement, ensuring it reflects our Attitude to Risk across all material risks.
• Lead the enterprise risk identification and materiality assessment process, covering all material risks inherent to Monzo including emerging risks.
• Assess and promote a strong risk culture across the organisation, embedding risk awareness in all levels of the bank.
• Maintain the EU Risk Taxonomy and risk register, ensuring accurate classification and management of risks.
• Maintain the impact matrix, ensuring it accurately reflects the potential impact of identified risks.
• Prepare and present comprehensive risk reports to the Board and Executive Committees, providing an integrated and holistic view of risks, incorporating point-in-time and forward-looking risk assessments where appropriate.
• Plan and execute risk assurance activities, ensuring that the risk management framework is effectively implemented and adhered to.
• Lead the development and delivery of risk training programs, ensuring all employees are adequately trained in risk management practices.
• Oversee the functions of the Office of the CRO, including governance cycles, staff communications, resource planning and budgeting, learning and development, vendor management, and secretariat services.

Leadership:

• Establish and lead the Operational and Enterprise management function ensuring effective delivery through adequate resourcing, processes and technology in Europe
• Work closely with other senior leaders and first line teams to ensure that operational risks are managed in a robust and integrated manner and controls are effective across the organisation.
• Provide expert guidance and strategic recommendations to senior management and the Board on operational and enterprise risk matters, enabling informed decision-making.
• Engage with key internal and external stakeholders, including Group functions and external regulators, to ensure that the bank’s operational and enterprise risk management practices are aligned, transparent, effective, and compliant.
• Establish a robust operational risk management culture through comprehensive training and awareness programmes.
• Report to the Board and Executive-level Committees on operational risk and control effectiveness.
• Contribute to the second line Risk Leadership Team (RLT), fostering a collaborative environment across the organisation.
• Ensure Operational and Enterprise Frameworks, Policies, and Standards in Europe take account of the Monzo Group activities.

🤩We’d love to hear from you if you..

• Hold extensive experience in operational and enterprise risk management within a banking environment, and with considerable experience in a leadership role.
• Have strong knowledge of operational risk, including IT and information security risk, third party and outsourcing risk, payments and business continuity risks and related regulatory requirements (CBI, EBA, ECB/SSM, Basel, etc).
• Have excellent analytical skills, strong leadership and communication abilities, and proficiency in operational risk assessment tools (RCSA, KRIs/KCIs, Risk Profiling and Mapping, Control Testing Methodologies, Scenario Analysis etc.) and enterprise risk management processes (Risk Appetite, Risk Assessments, Risk Reporting, Risk Governance etc.)
• Posses detailed knowledge of digital banking products and operations and associated operational risks;
• Have detailed understanding of operational risk and control management frameworks and techniques in financial technology operations.
• Demonstrate excellent verbal and written communication skills, with the ability to influence and engage senior stakeholders.
• Can thrive in a fast-paced environment, handling complexity with ease and communicating effectively.
• Are passionate about financial technology and motivated by the opportunity to be at the forefront of banking transformation in Ireland and the EU.

Even better if: 

• You have experience setting up and running operational risk and outsourcing processes in Ireland / the EU.
• You have previously held a PCF role or equivalent with a financial services institution in Ireland or an equivalent jurisdiction.

🙌 What’s in it for you

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The application journey has 5 key steps:

• Phone call with recruiter (30mins)
• Video call with hiring manager (30 mins)
• Technical video interview with hiring manager and stakeholders (60 min)
• Leadership & behavioural interview with technical team (60 min)
• Final interview with CEO EU (30 mins)

Equal opportunities for everyone