Head of Model Risk Oversight
MonzoDigital Banking company
Madrid, Spain€102,000 - €138,000Director
CapitalG
GIC
Tencent
Google Ventures
Ribbit Capital
Passion Capital
Legal & Compliance
About the role
TL;DR
Lead model risk oversight for Monzo Bank Europe, ensuring model soundness and regulatory compliance.
- •{"About the Role": "The Head of Model Risk Oversight is a key Second Line of Defence (2LOD) leadership role responsible for establishing, scaling and managing the Model Risk Management (MRM) process across Monzo Bank Europe (MBEU).
- •This role ensures that all models supporting MBEU operations are mathematically sound, secure, compliant, and aligned with risk appetite and regulatory expectations.", "Key Responsibilities": ["Define, implement, and maintain the EU-wide Model Risk Management (MRM) Framework and associated validation standards.", "Lead the technical 2LOD validation of all material and high-risk models prior to deployment.", "Develop and operationalise independent 2LoD validation protocols for advanced Machine Learning (ML) methodologies and automated decisioning systems.", "Ensure continuous alignment with local and European regulatory expectations, focusing on ECB and EBA Guidelines, IFRS 9, GDPR, and the European AI Act.", "Establish and scale the 2LOD model risk oversight function, managing resourcing and budget."], "Requirements": ["Post-graduate degree (MSc or PhD) in a highly quantitative discipline.", "Extensive experience in quantitative Model Risk Management within a tier-1 bank, rapid-growth challenger bank, or premier financial regulatory consulting practice.", "Deep understanding of European prudential regulations, ECB internal model guidelines, ECB Guide to ICAAP and ILAAP, EBA standards, Consumer Credit Directive (CCD2), GDPR data privacy mandates, and the European AI Act.", "Highly tech-fluent, featuring hands-on proficiency in SQL and Python.", "Strong track record in designing, scaling, or managing comprehensive model risk governance frameworks from scratch."]}
Required skills
PythonSQLLLMsCompliance ManagementGDPR
Domain expertise
fintech
Benefits & perks
Incentive Awards, Flexible working hours, 38 days annual leave, Learning budget, Private healthcare, Wellbeing benefits, Relocation assistance
Tech stack
PythonSQLLLMs