Two-dimensional (2D) magnet-superconductor hybrid systems are intensively studied due to their potential for the realization of 2D topological superconductors with Majorana edge modes. It is theoretically predicted that this quantum state is ubiquitous in spin-orbit coupled ferromagnetic or skyrmionic 2D spin-lattices in proximity to an s-wave superconductor. However, recent examples suggest that the requirements for topological superconductivity are complicated by the multi-orbital nature of the magnetic components and disorder effects. Here, we investigate Fe monolayer islands grown on a surface of the s-wave superconductor with the largest gap of all elemental superconductors, Nb, with respect to magnetism and superconductivity using spin-resolved