Role overview

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, shaping how Monzo Bank Europe lends as it scales across the continent.

You will lead oversight of the whole lending business, drive the Credit Risk Framework, define risk appetite, challenge credit strategy and oversee execution across the credit lifecycle. You will also lead credit risk analytics and measurement, including IFRS 9 expected credit loss models, and bring modern methods including artificial intelligence into the function.

This is a Controlled Function (CF-2) role under the Central Bank of Ireland Fitness and Probity Standards.

Key responsibilities

Credit Risk Framework and Appetite

• Develop, implement and continuously improve the Credit Risk Framework in Europe
• Formulate and oversee the Credit Risk Appetite Statement and limit structure
• Turn appetite into practical limits, triggers and escalation paths
• Embed group-wide frameworks locally with clear escalation

2nd LoD oversight of credit risk activities

• Provide independent oversight and challenge across credit policy, underwriting, affordability, pricing and collections
• Issue formal 2nd LoD opinions on new products, policy changes and material lending decisions
• Review portfolio asset quality and assess IFRS 9 impairment provisions

Credit risk measurement

• Lead end-to-end credit risk measurement and own IFRS 9 ECL models
• Set methodology for staging, significant increase in credit risk, macroeconomic scenarios and post-model adjustments
• Introduce advanced techniques and AI with appropriate controls

Monitoring, governance and regulatory compliance

• Build credit risk monitoring and early warning processes
• Act as Secretariat and Deputy Chair of the Credit Risk Oversight Committee
• Ensure compliance with CBI, Irish and EU law, EBA and ECB guidelines
• Support regulatory reporting and act as a key contact for the CBI, internal audit and external auditors

Leadership

• Build the credit risk oversight function from the ground up, hiring and leading a team as the business grows
• Put cutting-edge technology, including generative and agentic AI, at the heart of the function

What we’re looking for

You have a degree in a quantitative or financial discipline. Further qualifications such as CFA, FRM or PRM are a strong plus. You have led credit risk oversight or measurement in a retail or challenger bank or top regulatory consulting practice, ideally in a regulated EU entity. You know retail credit risk modelling inside out and have owned or challenged credit risk appetite, policy and strategies. You understand European regulation well and have experience engaging with auditors and supervisory authorities. You are tech-fluent with SQL and Python and ready to use AI responsibly. You have built frameworks from scratch and can turn complex analysis into clear insight for senior stakeholders.

What’s on offer

Salary range €121,000 – €163,000 plus incentive awards. Hybrid working model based in the Dublin office 2–3 days a week with occasional travel to London. Flexible working hours, 34 days annual leave, €1,200 learning budget, private healthcare, pension scheme and wellbeing benefits.