The former club captain, who was the surprise choice to take the reins after Michael Laudrup departed Swansea this week, has been put in charge of the first team for the "foreseeable future" by chairman Huw Jenkins.
Monk's tenure got off to the perfect start with a 3-0 derby win over Cardiff, which sees Swansea climb into the top half of the table and leaves their bitter rivals deep in relegation trouble.
After a quiet first 45 minutes in which neither side mustered a meaningful chances, Pablo Hernandez was introduced for Marvin Emnes at half-time - and Sky Sports expert Redknapp said that decision changed the game.
"It wasn't Monk's words, it was his actions because he made a brilliant tactical substitution at half-time," he told Saturday Night Football.
"Bringing on Pablo Hernandez completely changed the game. He had a big hand in all three goals and affected the game.
"Gary Medel couldn't get near him and the pass for the first goal - with one of his first touches - was magnificent. It completely changed the complexion of it.
"All of a sudden the pitch started to get bigger, Swansea started to play with the freedom that we know and love they can do and in the end it was convincing.
"It will really hurt those Cardiff players, but if Jose Mourinho had made those changes at half-time we'd be waxing lyrical about it.
"He might - only might - have just got himself the job today with that performance."
Former Wales international Dean Saunders was also in the SNF studio and was impressed with Monk's demeanour in his first game in charge.
And he reckons Swansea might have stumbled upon another good young manager to follow in the footsteps of the likes of Roberto Martinez and Brendan Rodgers.
"I thought he looked calm before the game and he must have been like that around the training ground," Saunders said.
"It's been a relief to the players, by the looks of it, that he's got the manager's job as caretaker and they've taken that on the pitch today. It's a great result.
"He's been there a long time and he's a proper professional and a really good lad around the place.
"The chairman gets it right all the time, by the way, with the managers he's picked. He got Roberto Martinez in, who did a great job and then Brendan Rodgers came in and did a great job - and Laudrup's done all right.
"He's got this one now."