Fincrime and Fraud Model Validator

Were on a mission to make money work for everyone.

Were 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 aspersonal 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 andcombine 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!

Were not about selling products - we want to solve problems and change lives through Monzo

London/UK Remote 59500 - 70000 (depending on experience) Incentive Awards tied to your performance Benefits

Our Model Oversight team

The second line of defence Model Oversight team (thats us!) provides support to our colleagues in Borrowing Fincrime & Fraud Operations and Finance to help Monzo grow safely. Were looking for someone (maybe you) to help ensure the Fincrime/Fraud models we use are not only good for Monzo but whats best for our customers.

Youll play a key role by...

• 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 of any FinCrime/Fraud model changes and provide recommendations to first line teams to ensure the models remain fit for purpose.
• Build relationships with first line of defence Fincrime/Fraud modelling teams and wider risk teams to support the embedding of the model risk framework (e.g. good maintenance of the model inventory and adhering to issue management processes) and an understanding of model validation practices to help Monzo grow safely.
• Support team lead in 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.
• Supporting the broader Model Oversight team with model validation activity in other disciplines (Financial Operational and Credit) to manage peak demand and utilising areas of specific knowledge.
• Research and learn latest modelling and validation techniques
• Support the effective operation of the Model Risk Oversight Committee as a regular attendee contributing to the group discussion to improve model risk management.
• Support the promotion and embedding of 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.

Wed 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.

  Whats in it for you

  59500 to 70000 (depending on experience) Incentive Awards tied to your performance benefits

  This role can be based in our London office but were 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.

  1000 learning budget each year to use on books training courses and conferences.

  Plus lots more!Read our full list of benefits.

  #LI-TK1 #LI-Remote

Equal opportunities for everyone

Diversity and inclusion are a priority for us and were making sure we have lots of support for all of our people to grow at Monzo. At Monzo were 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. You can read more in our blog 2024 Diversity and Inclusion Report and 2024 Gender Pay Gap Report.

Were 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.

If you have a preferred name please use it to apply. We dont need full or birth names at application stage