About the role
Job Application for Fincrime and Fraud Model Validator at Monzo Back to jobs tags.new Fincrime and Fraud Model Validator Cardiff, London or Remote (UK) Apply 🚀 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 | 💰£59,500 - £70,000 (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, Operations and Finance to help Monzo grow safely. We’re looking for someone (maybe you?) 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... 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. 🤩 We’d 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: Recruiter Call (30mins) Initial Call (30 mins) 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. 🙌What’s in it for you 💰£59,500 to £70,000 (depending on experience) + Incentive Awards tied to your performance + benefits 📍This role can be based in our London office, but we're 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. 📚£1,000 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 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. You can read more in our blog , 2024 Diversity and Inclusion Report and 2024 Gender Pay Gap Report. We’re 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 don't need full or birth names at application stage 😊 Apply for this job * indicates a required field First Name * Last Name * Email * Phone Country * Phone * Location (City) * Locate me Resume/CV * Attach Attach Dropbox Google Drive Enter manually Enter manually Accepted file types: pdf, doc, docx, txt, rtf Cover Letter Attach Attach Dropbox Google Drive Enter manually Enter manually Accepted file types: pdf, doc, docx, txt, rtf 🇺🇸 Are you a US Person? * Select... A US Person is defined as someone who: was born in the United States (US) has at least 1 parent who was born in the US is a naturalised citizen of the US is a green card holder is a US tax resident 🔐 Keeping your data safe is really important to us. Please take a look at our Candidate Data Privacy Notice (linked below) and confirm that you have. * Select... 🔗 Candidate Data Privacy Notice . 🛂 Please confirm your UK Right to Work status. * Select... We legally have to verify your Right to Work in the UK before you can start working for us. We're asking for this information now so we know later what type of right to work check we need to do. Your answer to this question won't affect the outcome of your application, unless you'd need visa sponsorship but are applying to a role we can't sponsor. If you’d like to, please share your preferred pronouns (eg. they/them/theirs, she/her/hers). If you'd like to, please spell out your name how it's pronounced so we know how to say it. 👤 Identity survey Our goal at Monzo is to make money work for everyone. To do that, working at Monzo must work for everyone. We want to create an equitable, engaged and innovative workplace which gives people from all backgrounds the support they need to thrive and grow. Making Monzo work for everyone starts right at the beginning of every Monzonaut's journey: when they apply to work here. This demographic survey will help us better understand the people who apply to work at Monzo. It'll help us see how different groups progress through our hiring process, and where we need to make improvements to be more inclusive. If you choose to fill it out, all of the information you give us is: Voluntary . And we've included a "prefer not to say" option for every question. It'd be helpful if you still fill out the survey even if you choose "prefer not to say" for every question, as it's useful for us to understand & record this. We won't know if you choose to fill this survey in or not. Anonymous to Monzo . We can't tie your responses to you and they won't make a difference to the outcome of your application. We'll only use grouped responses for equal opportunities monitoring in our hiring process. For more information on how we'll use this data, please read our candidate privacy notice . By filling out this survey, you agree that we can use your responses for the purposes we've mentioned above. You are not letting us know if we need to make any adjustments to the hiring process because of disability or neurodiversity - to do this please email us. How would you describe your gender identity? Select... Do you identify as transgender? Select... What's your sexual orientation? Select... Do you identify as having a disability? Select... Do you consider yourself to be neurodivergent? Select... How would your describe your ethnicity? Select... Submit application Powered by Greenhouse