Financial Crime Model Validation Manager

London/UK Remote | 71,400 - 90,000 (depending on experience) + Incentive Awards tied to your performance + Benefits

Our Model Oversight team

The second line of defence Model Oversight team (thats us!) provides support to our colleagues in Borrowing, Fincrime & Fraud, Finance and Operations to help Monzo grow safely. Were looking for a FinCrime Model Validation Manager to help ensure the Fincrime/Fraud models we use are not only good for Monzo but what's best for our customers.

Youll play a key role by...

• Build relationships with first line of defence Fincrime/Fraud modelling teams and wider risk teams to support the embedding of the model risk framework and an understanding of model validation practices to help Monzo grow safely.
• Perform independent model validations of FinCrime/Fraud models using proportionate modelling techniques depending on the level of complexity applied.
• Write clear and impactful model validation reports and present the findings in relevant committees.
• Review ongoing model performance monitoring to ensure the FinCrime/Fraud models are performing within risk thresholds and providing support to the FinCrime/Fraud model development team when further action is required.
• Oversee the review and validation of any FinCrime/Fraud model changes and provide recommendations to first line teams to ensure the models remain fit for purpose.
• Collaborate with the first line of defence teams to support the strengthening of policies, standards and procedures, providing advisory support during FinCrime/Fraud model design and build, and helping to embed best practice in the business.
• Monitoring and measuring the overall level of FinCrime/Fraud model risk that Monzo operates, and driving action plans with first line teams and appropriate governance forums to mitigate residual model risk within desired risk appetite.
• Ensuring FinCrime/Fraud Model Owners keep the Model Inventory up to date so it contains sufficient information and evidence to support regulation and compliance reviews
• Supporting the broader Model Oversight team with model validation activity in other disciplines (Finance and Credit) to manage peak demand and utilising areas of specific knowledge.
• Research and learn latest modelling and validation techniques , such as machine learning, to enable expansion of validation capability.
• Support the effective operation of the Model Risk Oversight Committee as a regular attendee, contributing to the group discussion to improve model risk management.
• Promote and help embed a strong risk culture, making risk meaningful and relevant to everyone at Monzo. You will share best practice that is easy for everyone to understand.

Wed love to hear from you if

• You are highly motivated and energised by the idea of bringing positive impact to our customers and Monzo
• You are self-motivated and thrive in a fast-paced environment
• You have great attention to detail while keeping an eye on the big picture
• You are a great communicator, able to articulate complex problems
• You can provide effective challenge whilst building strong, respectful relationships
• You are keen to grow your knowledge in both business and technology

And, from a technical and knowledge perspective, you should have:

• Experience in developing and/or validating any of Financial Crime, Fraud, Credit, Interest Rate, Liquidity, Regulatory capital, Stress testing and/or forecasting models
• In-depth knowledge of statistical techniques for management of risks
• Experience of managing a modelling project through its full lifecycle
• Strong technical skills such as SQL or Python
• Working knowledge of machine learning models: gradient boosted trees, etc
• If possible, some understanding of some of the following:
• Customer Risk assessment controls at point of Current Account application
• Transaction Monitoring controls
• Financial Crime and Fraud Typologies
• Experience in transaction driven business or similar industry

The Interview Process:

Our interview process involves three main stages:

1. Recruiter Call (30mins)
2. Initial Call (30 mins)
3. Final stage x3 a take home task, role specific interview and a behavioural interview

Our average process takes around 3-4 weeks but we will always work around your availability.

Whats in it for you

71,400 to 90,000 (depending on experience) +Incentive Awards tied to your performance + benefits

This role can be based in our London office, but we're open to distributed working within the UK (with ad hoc meetings in London)

We offer flexible working hours and trust you to work enough hours to do your job well, and at times that suit you and your team.

1,000 learning budget each year to use on books, training courses and conferences.

Plus lots more! Read our full list of benefits.

#LI-TK1 #LI-Remote