Job Overview
Monzo is a digital banking platform that is redefining traditional banking. The Credit Model Validation Manager will work with the Credit Model Validation team to provide independent oversight of credit models, ensuring they deliver optimal outcomes for our customers.
About the Team
The Borrowing (lending) business is growing rapidly across existing products and new initiatives. As the portfolio expands, the second line of defence Credit Model Validation team is scaling with it, and we are looking for a Credit Model Validation Manager to join us.
Responsibilities
- Lead hands‑on independent validation of customer‑level decisioning models, covering machine learning, decision science, and NPV unit‑economics models.
- Ensure models are fit for purpose, governed appropriately, explainable, and performing as expected.
- Support oversight and validation of broader credit risk models, including IFRS9, stress testing, and economic response models.
- Develop a deep understanding of Monzo’s credit models and provide impactful input to improve modelling capabilities.
- Review ongoing model performance monitoring to ensure models perform within risk thresholds and support first‑line teams when action is required.
- Perform statistical analyses to assess model performance, including developing challenger models where appropriate.
- Improve the Model Risk Framework by overseeing policies, standards, and procedures to embed best practice and remain compliant with regulatory guidelines.
- Write clear validation reports and present findings and actions to relevant committees.
- Partner with credit strategy, modelling teams, and wider risk teams to embed the model risk framework across the organisation.
- Lead the adoption of AI tools to enhance the model validation approach.
Qualifications
- Strong background in credit model development and/or validation, with exposure to decision science scorecards, under‑writing PD models, and NPV/unit‑economics modelling.
- Data driven, with strong analytical skills and deep understanding of statistical techniques for credit and model risk.
- Proficient in SQL and Python; experience with data visualisation tools such as Tableau or Looker is a plus.
- Understanding of real‑time decisioning and lending strategies, balancing commercial and risk outcomes.
- Excellent written and verbal communication skills, able to explain complex issues to non‑experts.
- Proven ability to build and maintain trusting relationships with stakeholders at all levels.
- Impact‑driven, proactive in identifying issues and opportunities to improve customer and business outcomes.
- Passionate about technology and excited about Monzo’s mission.
Tech Stack
- Google Cloud Platform
- dbt and BigQuery SQL
- Python
- Go
- AWS
Benefits
- Salary: £79,000 – £93,000 plus performance‑based incentive awards.
- Flexible remote or London office – remote workers receive MacBooks and additional support.
- Flexible working hours with trust to manage workload.
- £1,000 learning budget annually for books, training courses, and conferences.
- Full list of benefits available upon request.
Equal Opportunity Statement
Diversity and inclusion are a priority for us. We are fostering an inclusive environment where everyone can do their best work. We’re an equal‑opportunity employer and consider all applicants without regard to age, ethnicity, religion, sex, sexual orientation, gender identity, family or parental status, national origin, veteran, neurodiversity or disability status.
