Air carrier Captain reported a mountain wave-like encounter causing excessive bank during climb. Crew regained control and continued climb.

Narrative

First officer was pilot flying. I was pilot monitoring. We were given direct ZZZ from runway heading a 90 turn in climb while clean and accelerating. I selected direct ZZZ in the FMC and confirmed with the pilot flying and executed. During the turn we hit mountain wave-like valley turbulence and the right wing dropped exceeding the aural bank angle call limits and we received an aural bank angle warning. As Captain and Pilot Monitoring with more experience I recognized the potentially hazardous situation earlier and said my controls and rolled wings level to recover to a normal bank angle while simultaneously pressing the auto flight disconnect yoke button. I then performed the turn manually and once stabilized toward ZZZ engaged the auto flight and the auto flight system and the aircraft performed normally the rest of the flight with auto flight engaged and F/O as pilot flying.