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About the Role

The Model Oversight team provides support to colleagues in Borrowing, Fincrime & Fraud, Finance and Operations to help Monzo grow safely. We’re looking for a FinCrime Model Validation Manager to ensure the Fincrime/Fraud models we use are not only good for Monzo but what's best for our customers.

Responsibilities

• 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.
• Perform independent model validations of FinCrime/Fraud models using proportionate modelling techniques.
• 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.
• Provide 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.
• Collaborate with the first line of defence teams to support the strengthening of policies, standards and procedures.
• Provide advisory support during FinCrime/Fraud model design and build, and helping to embed best practice in the business.
• Monitor and measure the overall level of FinCrime/Fraud model risk that Monzo operates.
• Drive action plans with first line teams and appropriate governance forums to mitigate residual model risk within desired risk appetite.
• Ensure FinCrime/Fraud Model Owners keep the Model Inventory up to date.
• Support the broader Model Oversight team with model validation activity in other disciplines to manage peak demand.
• Utilize areas of specific knowledge to support the broader Model Oversight team.
• 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.
• Contribute to group discussion to improve model risk management.
• Promote and help embed a strong risk culture, making risk meaningful and relevant to everyone at Monzo.
• Share best practice that is easy for everyone to understand.

Requirements

• 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.
• Able to provide effective challenge whilst building strong, respectful relationships.
• Keen to grow your knowledge in both business and technology.
• 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.
• Some understanding of Customer Risk assessment controls at point of Current Account application.
• Some understanding of Transaction Monitoring controls.
• Some understanding of Financial Crime and Fraud Typologies.
• Experience in transaction driven business or similar industry.

Skills

• SQL
• Python
• Machine learning models
• Gradient boosted trees

Location

• London
• UK Remote

Work Type

• Remote
• Flexible working hours

Experience Level

• Depending on experience

Salary/Compensations

• £71,400 - £90,000

Benefits

• Incentive Awards tied to your performance
• £1,000 learning budget each year to use on books, training courses and conferences.

About the Company

• 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 ❤️

Equal Opportunity

• 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.
• All applicants will be considered for employment without attention to age, ethnicity, religion, sex, sexual attention, gender identity, family or parental status, national origin, or veteran, neurodiversity or disability status.
• If you have a preferred name, please use it to apply. We don't need full or birth names at application stage 😊