Remote Prudential Regulatory Risk Analyst

🚀 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 ❤️

Hear from our UK team about what it's like working at Monzo ✨

📍London or Remote, UK | 💰 £48,500 - £55,000 + share options + Benefits
About the role:

Our Prudential Risk Team is growing and we’re looking for a Prudential Regulatory Risk Analyst to join us within the 2nd Line of defence risk team. The role is responsible for working with our 1st Line of defence teams in interpreting and applying our prudential regulatory requirements, working on projects and submissions relating to these and collaborating with teams across the bank.

The core aspects of the role will be providing cohesive, effective oversight and challenge for regulatory capital and liquidity resource/requirements rule interpretations and regulatory reporting. The role will also support in interpreting and evaluating the impact of prudential regulation of strategic projects and business change, for example international expansion and other growth opportunities, and oversight of the impact of such projects on Monzo’s financial risks.

Your focus will be on COREP reporting, but may extend to other regulatory returns (FINREP, PRA/FCA Returns). There will also be opportunities to support the broader Prudential Risk team on initiatives for ICAAP, ILAAP, Recovery Planning, Resolution and Financial Forecasting.

Ideally you will have a strong working knowledge of the UK CRR and the PRA Rulebook, particular in relation to regulatory reporting and rule interpretation. Any broader experience across the scope of prudential regulation would be useful. If your background has been more focused on a specific area of regulatory reporting, e.g. capital, that is fine too. There will be an opportunity to broaden your knowledge base in other areas whilst you continue to develop your subject matter expertise in your chosen area.

Intermediate Excel/G-Sheet skills are essential, and ideally candidates will have experience working with a regulatory reporting system. Previous experience in producing and/or reviewing regulatory reporting relevant to a retail bank is essential. However this experience may have been gained from a 1

LoD reporting role. Experience in working within Big Query and market-leading reporting systems is preferable.

• Play a key role in the development and execution of the 2nd line of defence approach for the review of prudential regulatory reporting, including interpretation of regulatory reporting guidance and rules.
• Provide independent challenge for regulatory rule interpretations as well as reviewing the 1st Line of Defence interpretations of relevant regulatory rules, providing oversight and challenge for regulatory capital resource/requirements rule interpretations and regulatory reporting.
• Support reviews of the internal controls framework used for regulatory reporting, making recommendations for ensuring effective compliance.
• Review and interpretation of upcoming prudential policy (e.g. Basel 3.1), including PRA SoP, Consultation papers, policy and supervisory statements, including analysis of the impact on Monzo.
• Review the impact of new products and business change, for example internal expansion, on Monzo’s financial risk profile and prudential regulatory compliance.
• Support the 2nd line risk oversight and review of the ICAAP in line with Monzo’s approach, regulatory expectations and industry best practice.
• Conduct discrete…