About this role
🚀 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 ❤️
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 mo