Financial Crime Model Validation Manager

About the role

We are seeking a FinCrime Model Validation Manager to join our Model Oversight team in supporting Monzo's growth. In this role, you will build and maintain strong relationships with first line of defence teams in Fincrime and Fraud to ensure model risk practices are embedded effectively across the business. You will perform independent and proportionate validations of financial crime and fraud models, ensuring they remain fit for purpose and operate within defined risk thresholds. You will own the production of clear, impactful validation reports and present findings to relevant governance committees. You will oversee model change reviews and provide actionable recommendations to model owners. You will contribute to the operation of the Model Risk Oversight Committee and promote a strong risk culture throughout Monzo. This role involves researching and applying advanced validation techniques, including those related to machine learning, to enhance our capabilities. You will also support model validation activities in other disciplines such as Finance and Credit to manage peak demand and apply specific knowledge.

Key facts

What you'll do

Perform independent model validations of FinCrime/Fraud models using proportionate modelling techniques depending on the level of complexity applied.

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.

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.

Monitor and measure the overall level of FinCrime/Fraud model risk that Monzo operates, and drive action plans with first line teams and appropriate governance forums to mitigate residual model risk within desired risk appetite.

Ensure FinCrime/Fraud Model Owners keep the Model Inventory up to date so it contains sufficient information and evidence to support regulation and compliance reviews.

Support the broader Model Oversight team with model validation activity in other disciplines such as Finance and Credit to manage peak demand and utilise areas of specific knowledge.

Research and learn latest modelling and validation techniques, such as machine learning, to enable expansion of validation capability.

Support the effective operation of the Model Risk Oversight Committee as a regular attendee, contributing to the group discussion to improve model risk management.

Promote and help embed 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.

Contribute to continuous improvements in model validation frameworks, standards, and tooling where possible.

Assist in the development of business cases and justification documentation when model validation activities indicate necessary changes.

Provide guidance and thought leadership on model risk management topics within the FinCrime/Fraud domain.

Requirements

You must have a degree or equivalent experience in a relevant quantitative discipline such as Mathematics, Statistics, Physics, or Computer Science.

You must possess professional qualifications in model risk management, data science, or a related field, or demonstrate equivalent practical experience.

You must have significant experience in model validation, risk management, or a related role within financial services or a highly regulated environment.

You must have proven experience in validating financial crime, fraud, or anti-money laundering models or systems.

You must demonstrate strong knowledge of regulatory expectations and model risk management frameworks relevant to financial crime detection.

You must have hands-on experience with data analysis, statistical testing, and interpretation of model performance metrics.

You must have excellent written and verbal communication skills to articulate complex model validation findings to both technical and non-technical audiences.

You must be able to work independently and manage multiple priorities in a fast-paced, agile environment.

Nice to have

Experience in managing or validating machine learning models in production environments.

Knowledge of regulatory expectations specific to financial crime and anti-money laundering frameworks.

Experience working with cloud platforms and data tooling relevant to model monitoring and validation.

Practical notes

This is a full-time role based in Cardiff, London, or Remote within the UK. The compensation range is £71,400 to £90,000 depending on experience, supplemented by incentive awards tied to performance. Additional benefits are included as part of the total reward package. This role reports to the Model Oversight leadership and requires collaboration across risk, compliance, product, and technology teams. The successful candidate will be expected to engage with regulatory frameworks and contribute to the continuous enhancement of model risk practices.