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Salary: GBP 71,400 - 90,000 / annual
Monzo is a UK-based fintech company on a mission to make money work for everyone. The company has evolved from a prepaid card to a full-service digital bank offering personal and business accounts, joint accounts, credit cards, savings, investments, and pensions to UK customers.
The Model Oversight team serves as the second line of defence, supporting colleagues across Borrowing, Fincrime & Fraud, Finance, and Operations to ensure Monzo grows safely. You will join this team as the Financial Crime Model Validation Manager, responsible for overseeing the validation and performance of financial crime and fraud models.
Key responsibilities include:
- Building relationships with first-line Fincrime/Fraud modelling teams and risk teams to embed model risk frameworks and validation best practices
- Performing independent model validations of FinCrime/Fraud models using proportionate modelling techniques
- Writing clear, impactful model validation reports and presenting findings to relevant committees
- Reviewing ongoing model performance monitoring to ensure models operate within risk thresholds
- Overseeing review and validation of model changes, providing recommendations to ensure fitness for purpose
- Collaborating with first-line teams to strengthen policies, standards, and procedures
- Monitoring overall FinCrime/Fraud model risk and driving action plans with governance forums
- Maintaining the Model Inventory with sufficient information for regulatory and compliance reviews
- Supporting broader Model Oversight team with validation activity in other disciplines (Finance, Credit)
- Researching and learning latest modelling and validation techniques, including machine learning
- Supporting the Model Risk Oversight Committee as a regular attendee
- Promoting and embedding strong risk culture across Monzo
You should have experience developing and/or validating financial crime, fraud, credit, interest rate, liquidity, regulatory capital, stress testing, and/or forecasting models. The role requires strong attention to detail, excellent communication skills, ability to articulate complex problems, and capacity to provide effective challenge while building respectful relationships. You should be self-motivated, thrive in fast-paced environments, and be keen to grow knowledge in both business and technology.
