Credit Model Validation Manager or Remote

We’re on a mission to make money work for everyone.

We’re waving goodbye to the complicated and confusing ways of traditional banking.

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 or Remote (UK) | £79,000 - £93,000 + Incentive Awards tied to your performance + Benefits

About the team:

Our Borrowing (lending) business is growing rapidly across both existing products and with the planned launch of new initiatives. As our lending portfolio grows, our second line of defence Credit Model Validation team is growing with it - and we’re looking for a Credit Model Validation Manager to join us!

Our Credit Model Validation team provides independent oversight and challenge to our model development teams in the first line of defence. We help Monzo grow safely and make sure the models we use are fit for purpose, appropriately governed and deliver good outcomes for our customers. You’ll join our validation squad and provide expert independent validation and oversight across a broad suite of credit models.

This is a generalist role rather than one focused on a particular model type. You’ll work across models used for impairment, capital, stress testing, forecasting and credit decisioning, including IFRS 9 PD, LGD, EAD and economic response models; decision science scorecards and origination PD models; and Net Present Value (NPV) / unit economics models.

Strong data and analytical skills are a must, as is broad expertise in credit risk modelling and model risk management. You’ll have hands‑on experience in model validation and/or development within financial services, and be comfortable getting into the data and code to form an independent view across different model types.

• Leading hands‑on independent validation across Monzo’s credit model portfolio - covering models used for IFRS 9 impairment, capital and stress testing, forecasting, credit decisioning and unit economics - and making sure they are fit for purpose, appropriately governed and performing as expected
• Reviewing and challenging key model‑led credit risk assessments, including impairment adequacy, ICAAP and stress testing, using independent analysis to assess assumptions, limitations and impacts
• Developing a deep understanding of Monzo’s credit models and how they are used, and using this to provide impactful input and challenge to model developers and users
• Contributing to making model validation more consistent, scalable and technology‑enabled - building reusable analytical tools and tests, experimenting with AI‑assisted approaches and helping the team embed them safely
• Reviewing ongoing model performance monitoring to ensure our lending models perform within our risk thresholds, and providing support to our first line of defence teams when action is required
• Performing statistical analyses, model replication and challenger work where appropriate to test assumptions, assess performance and strengthen validation conclusions
• Improving and helping to embed our Model Risk Framework, including our policies, standards, model inventory, governance and validation approach. This means making sure we follow up‑to‑date regulatory expectations and that our processes remain proportionate and relevant as modelling techniques evolve
• Writing clear and impactful model validation reports, and presenting the findings and actions in relevant committees
• Partnering with colleagues in first line of defence credit strategy, modelling and finance teams - and with wider risk teams across Monzo - to support…