[Hiring] Financial Crime Model Validation Manager @Monzo

Role Description

We’re on a mission to make money work for everyone. We’re waving goodbye to the complicated and confusing ways of traditional banking. After starting as a prepaid card, our product offering has grown a lot in the last 10 years in the UK. As well as personal and business bank accounts, we offer joint accounts, accounts for 16-17 year olds, a free kids account and credit cards in the UK, with more exciting things to come beyond. Our UK customers can also save, invest and combine their pensions with us. With our hot coral cards and get-paid-early feature, combined with financial education on social media and our award-winning customer service, we have a long history of creating magical moments for our customers! We’re not about selling products - we want to solve problems and change lives through Monzo ❤️

We’re 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.

• Build relationships with first line of defence Fincrime/Fraud modelling teams and wider risk teams.
• Perform independent model validations of FinCrime/Fraud models.
• Write clear and impactful model validation reports and present findings.
• Review ongoing model performance monitoring.
• Oversee the review and validation of any FinCrime/Fraud model changes.
• Collaborate with first line of defence teams to strengthen policies and procedures.
• Monitor and measure the overall level of FinCrime/Fraud model risk.
• Ensure FinCrime/Fraud Model Owners keep the Model Inventory up to date.
• Support the broader Model Oversight team with model validation activity.
• Research and learn latest modelling and validation techniques.
• Support the effective operation of the Model Risk Oversight Committee.
• Promote and help embed a strong risk culture.

Qualifications

• Highly motivated and energised by the idea of bringing positive impact to our customers and Monzo.
• Self-motivated and thrive in a fast-paced environment.
• Great attention to detail while keeping an eye on the big picture.
• Great communicator, able to articulate complex problems.
• Can provide effective challenge whilst building strong, respectful relationships.
• Keen to grow knowledge in both business and technology.

Requirements

• Experience in developing and/or validating 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.
• Understanding of Customer Risk assessment controls at point of Current Account application.
• Experience in transaction driven business or similar industry.

Benefits

• Salary: £71,400 to £90,000 (depending on experience).
• Incentive Awards tied to your performance.
• Flexible working hours.
• £1,000 learning budget each year for books, training courses, and conferences.
• Open to distributed working within the UK.

Company Description

Diversity and inclusion are a priority for us and we’re making sure we have lots of support for all of our people to grow at Monzo. At Monzo, we’re embracing diversity by fostering an inclusive environment for all people to do the best work of their lives with us. This is integral to our mission of making money work for everyone.

We’re an equal opportunity employer. All applicants will be considered for employment without attention to age, ethnicity, religion, sex, sexual orientation, gender identity, family or parental status, national origin, or veteran, neurodiversity or disability status.