Financial Crime Model Validation Manager

ABOUT THE ROLE We're on a mission to make money work for everyone. As a FinCrime Model Validation Manager, you'll play a key role in ensuring the financial crime and fraud models we use are not only good for Monzo but what's best for our customers. You'll be part of the second line of defence Model Oversight team, providing support to our colleagues in Borrowing, Fincrime & Fraud, Finance and Operations to help Monzo grow safely. WHAT YOU'LL DO As a FinCrime Model Validation Manager, you'll be responsible for: - Building 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. - Performing independent model validations of FinCrime/Fraud models using proportionate modelling techniques depending on the level of complexity applied. - Writing clear and impactful model validation reports and presenting the findings in relevant committees. - Reviewing 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. - Overseeing the review and validation of any FinCrime/Fraud model changes and providing recommendations to first line teams to ensure the models remain fit for purpose. - Collaborating 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. - Researching and learning latest modelling and validation techniques, such as machine learning, to enable expansion of validation capability. - Supporting the effective operation of the Model Risk Oversight Committee as a regular attendee, contributing to the group discussion to improve model risk management. - Promoting and helping embed a strong risk culture, making risk meaningful and relevant to everyone at Monzo. WHAT YOU'LL NEED - 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. WHY REMOTE This role is open to remote applicants who can work from anywhere in the UK. BENEFITS - £71,400 - £90,000 salary (depending on experience) + In