Head of Model Risk (Basé à London)

Wise is a global technology company, building the best way to move and manage the world’s money. Min fees. Max ease. Full speed. Whether people and businesses are sending money to another country, spending abroad, or making and receiving international payments, Wise is on a mission to make their lives easier and save them money. As part of our team, you will be helping us create an entirely new network for the world's money. For everyone, everywhere.

We are seeking a highly motivated Head of Model Risk to lead the development and management of our model risk framework with a sharp focus on AI and ML models. This pivotal role is a new addition to our expanding global Risk function, designed to support and enhance our model risk management capabilities in a dynamic environment.

Your Mission: As our Head of Model Risk, you will be responsible for creating and evolving a comprehensive model risk management framework, with a strategic focus on AI and Machine Learning models. Your expertise will be vital in developing a performance-centric and fit-for-purpose approach that not only manages but also enhances the widespread use of these models throughout our business.

You will design pragmatic structures that foster rapid model development, seamless deployment, and efficient iteration, ensuring our innovation moves at pace. This role, situated within the 2nd Line of Defence Risk function, requires a highly collaborative individual. You will work hand-in-hand with 1st Line model developers and owners from diverse areas such as Treasury/Finance and Financial Crime. By gaining deep insights into their critical use cases, leveraging best practices, and addressing control challenges, you will build a consistent and robust framework. This framework will be key to enabling our rapid growth trajectory while maintaining strong internal controls and fulfilling all regulatory requirements.

Key Responsibilities:

• Design and embed foundational principles for model safety across the entire model lifecycle, from development and implementation to continuous monitoring, testing, and validation. This includes integrating critical aspects like model usability and explainability.
• Establish core framework components to manage model risk effectively. This involves creating a clear model risk taxonomy, a comprehensive model inventory, and a robust scoring system that accurately identifies the most material models based on business impact, decision automation, risk exposure, and ethical implications. You will also define clear development guidelines, a pragmatic testing approach, stringent validation standards, and strong reporting governance, all while leveraging internal and external best practices.
• Partner closely with model-owning and developing teams to cultivate a lean, modular, transparent, and scalable governance approach for both new models and model changes. You will provide practical tools and guidelines, applying graduated levels of governance and monitoring rigor to enable rapid deployment for low-risk models while ensuring deeper scrutiny for high-risk ones.
• Develop and implement innovative methodologies for defining, measuring, monitoring, aggregating, and reporting on Model Risk. You will tailor these insights for diverse audiences, including 1st and 2nd Line committees and the Board.
• As a 2nd Line function, enforce the model control framework. This includes ensuring robust documentation of controls, diligently tracking risk issues and incidents, defining key risk indicators, and establishing a clear model risk appetite.
• Develop and execute an independent model validation program across our entire model inventory. Your focus will be on transitioning from one-time validations to a continuous assurance model, empowering teams to detect issues early and implement corrective actions rapidly.

What You’ll Bring:

• Extensive experience within the financial services, banking, or fintech sector, with a demonstrable track record in a 1st or 2nd Line role encompassing model development, independent model challenge, or validation. You are known for your pragmatic approach, ability to drive rapid progress, and commitment to outcome-based accountability.
• Deep expertise and a genuine passion for data analytics, specifically with a strong understanding of Machine Learning (ML) and Artificial Intelligence (AI) models.
• Specialized knowledge of financial crime models (e.g., Anti-Money Laundering (AML) and fraud detection) is highly desirable, complemented by the ability to effectively manage a diverse portfolio of model and risk types.
• Proven proficiency in major programming languages and advanced data science techniques.
• Comprehensive understanding of relevant legislation and regulatory expectations concerning model risk management across key international jurisdictions.

Additional Information:

Salary 115000 - 160000 GBP. We’re people building money without borders — without judgement or prejudice, too. We believe teams are strongest when they are diverse, equitable and inclusive. We’re proud to have a truly international team, and we celebrate our differences. Inclusive teams help us live our values and make sure every Wiser feels respected, empowered to contribute towards our mission and able to progress in their careers.