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 (that’s us!) provides support to our colleagues in Borrowing, Fincrime & Fraud, Finance and Operations to help Monzo grow safely. 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.

🔑You’ll 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.

🤩We’d 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. 

🙌What’s 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.

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