Legal Counsel, EEA Legal
Crypto.com
Director of Credit Risk
Monzo Bank
full-time
Posted on:
Location Type: Office
Location: Dublin • 🇮🇪 Ireland
Visit company websiteJob Level
Lead
About the role
- Developing, implementing and continuously enhancing Monzo's Retail Credit Risk Framework for Europe, ensuring it is fully aligned with the entity’s strategic objectives.
- Defining, maintaining and overseeing the implementation of the Retail Credit Risk Appetite Statement, ensuring that lending activities align with business growth objectives and risk limits.
- Providing effective second-line oversight of Retail Credit Risk activities, including policies, underwriting and credit decisioning strategies, pricing and collections and recovery strategies.
- Leading regular reviews of the credit portfolio's asset quality, including monitoring performance trends and assessing the adequacy of IFRS9 impairment provisions.
- Establishing robust credit risk monitoring and early warning processes, delivering high quality and timely credit management information (MI) and risk insights to senior internal and external stakeholders.
- Reviewing, challenging and independently validating retail credit risk models including credit scorecards, IFRS9 Expected Credit Loss (ECL) models, stress testing, and internal credit risk capital assessment models.
- Chairing and actively contributing to relevant risk governance forums, including Credit Risk Committees, ensuring effective challenge, decision-making, and escalation of material risks.
- Ensuring ongoing compliance with the Central Bank of Ireland requirements, including those related to PCF-22 obligations, and support regulatory reporting and engagement as required.
- Establishing and leading the second line credit risk oversight function ensuring effective delivery through adequate resourcing, processes and systems in Europe.
- Working closely with other senior leaders and first line teams to ensure that credit risk is managed in a robust and integrated manner and controls are effective across the organisation.
- Providing expert guidance and strategic recommendations to senior management and the Board on credit risk matters, enabling informed decision-making.
- Engaging with key internal and external stakeholders, including Group functions and regulators, to ensure that the entity’s credit risk management practices in the EU are aligned, transparent, effective, and compliant.
- Establishing a robust credit risk management culture through comprehensive training and awareness programmes.
- Contributing to the second line Risk Leadership Team (RLT), fostering a collaborative environment across the organisation.
Requirements
- You have a minimum of 10 years of experience in retail credit risk management preferably in digital banking, fintech or consumer lending environments, with at least 5 years in a leadership credit risk role.
- You have detailed experience in consumer finance with a strong knowledge of retail credit products including loans, cards and overdraft lending.
- You have detailed knowledge of IFRS9, CRR/CRD prudential regulation and regulatory expectations in Ireland and Europe (eg. CBI, EBA, ECB/SSM, Basel, etc).
- You have a proficiency in credit risk modelling measurement tools (decisioning scorecards, IFRS9 Expected Credit Loss Models, Probability of Default (PD) and Loss Given Default (LGD) models etc.)
- You have proven experience in reviewing and validating credit risk models (scorecards, ECL, stress testing).
- You have excellent analytical, verbal and written communication skills, with the ability to influence and engage senior stakeholders.
- You have a track record of building and leading high-performing risk teams and influencing executive stakeholders.
- You thrive in a fast-paced environment, handling complexity with ease and communicating effectively.
- You 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 credit risk functions in Ireland / the EU.
- Even better if: You have previously held a PCF-22 role or equivalent with a financial services institution in Ireland or an equivalent jurisdiction.
Benefits
- A competitive compensation package, composed of a base salary ➕share options
- Share options
- Flexible working hours and trust you to work enough hours 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
ATS Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
retail credit risk managementcredit risk modellingIFRS9credit scorecardsExpected Credit Loss modelsProbability of Default modelsLoss Given Default modelsstress testingcredit decisioning strategiescredit risk appetite statement
Soft skills
analytical skillsverbal communicationwritten communicationinfluencing skillsleadershipcollaborationstrategic recommendationsproblem-solvingstakeholder engagementteam building
Certifications
PCF-22financial services certifications
