Head of Credit Risk Oversight

🚀 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 ❤️ 📍Dublin | 💶 €121,000 - €163,000 + Incentive Awards tied to your performance + benefits | Hear from the team ✨ ⭐ Our Risk team Monzo is building a bank for Europe, and lending sits at the heart of that plan. The Head of Credit Risk Oversight is a senior risk leadership role in the Second Line of Defence (2nd LoD), shaping how Monzo Bank Europe lends as it scales across the continent. You'll join early enough to set the standard, and stay to see it grow with the portfolio. Roles like this don't come along often. You'll lead the oversight of Monzo Bank Europe’s whole lending business. That means driving our Credit Risk Framework, defining the risk appetite, challenging and shaping our credit strategy, and overseeing how the business executes it within that appetite, right across the credit lifecycle. You'll spot the risks inthe portfolio before they show up in the numbers, so Monzo Bank Europe can grow fast and keep growing. You'll also lead our credit risk analytics and measurement. You'll direct the development of our IFRS 9 expected credit loss models, make sure our impairment provisions hold up, and turn portfolio data into insight the business acts on. You'll do that with modern methods and technology, including artificial intelligence, and set the standard for how we use and control them. This role reports to the Director of Credit Risk, Monzo Bank Europe. 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 2018 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 and will be required to take reasonable steps to ensure that the relevant conduct standards are met. 🔑 You’ll play a key role by... • Credit Risk Framework and Appetite • Developing, implementing and continuously improving our Credit Risk Framework in Europe, keeping it aligned to the entity's strategy. • Formulating and overseeing the Credit Risk Appetite Statement and its limit structure, so lending growth stays inside agreed boundaries. • Turning appetite into practical limits, triggers and escalation paths, and overseeing how the First Line of Defence (1st LoD) puts them into practice. • Embedding group-wide credit risk frameworks locally, with clear escalation between global standards and local policy. • 2nd LoD oversight of credit risk activities • Giving independent oversight and challenge across credit policy, underwriting and credit decisioning strategies, affordability, pricing, and collections and recovery. • Issuing formal 2nd LoD opinions on new products, policy and strategy changes, and material lending decisions. • Reviewing portfolio asset quality regularly, including performance trends, vintage analysis and emerging pockets of risk. • Overseeing the adequacy assessment of IFRS 9 impairment provisions, and giving a clear 2nd LoD view on whether provisions are appropriate. • Credit risk measurement • Leading the measurement of our credit risk end to end, from data and methodology through to the loss estimates we report. • Owning the development and maintenance of the IFRS 9 expected credit loss models, including the PD, LGD, EAD and forward-looking information (FLI) inputs behind them. • Setting the methodology for staging, significant increase in credit risk, macroeconomic scenarios and post-model adjustments. • Keeping model documentation and evidence in good shape, and closing validation findings on time. • Bringing advanced techniques and artificial intelligence into how we build and run these models, with the controls and transparency that come with them. • Supplying credit risk parameters and expert input to capital, stress testing and financial planning work. • Monitoring, early warning and MI • Building credit risk monitoring and early warning processes that spot problems early. • Delivering high quality, timely credit risk management information and insight to senior internal and external stakeholders. • Making the numbers tell a clear story, so people can make decisions quickly and confidently. • Committee governance and independent challenge • Acting as Secretariat and Deputy Chair of the Credit Risk Oversight Committee, shaping agendas, tracking actions, and presenting 2nd LoD reports and opinions. • Escalating credit risk appetite breaches and material risks promptly to the Executive Risk Committee and the Board Risk Committee. • Giving clear, evidence-based challenge to 1st LoD credit, analytics and product teams, and to accountable executives. • Regulatory compliance and engagement • Making sure credit risk management meets the legal and regulatory requirements of the markets we operate in, including Central Bank of Ireland (CBI) requirements, Irish and European Union law, and European Banking Authority (EBA) and European Central Bank (ECB) guidelines. • Leading the 2nd LoD assessment of changing and new c