At a Glance
- Tasks: Lead validation of credit models and enhance decision-making processes.
- Company: Join Monzo, a digital bank transforming the banking experience.
- Benefits: Competitive salary, flexible remote work, and a £1,000 annual learning budget.
- Other info: Diverse and inclusive workplace with excellent career growth opportunities.
- Why this job: Make a real impact on customer outcomes while working with cutting-edge technology.
- Qualifications: Experience in credit model validation and strong analytical skills required.
The predicted salary is between 79000 - 93000 £ per year.
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.
Credit Model Validation Manager in London employer: Somi AI
Monzo is an exceptional employer, offering a dynamic work culture that champions innovation and inclusivity. As a Credit Model Validation Manager, you'll benefit from flexible working arrangements, a generous learning budget, and the opportunity to lead impactful projects in a rapidly growing digital banking environment. With a strong focus on employee development and a commitment to diversity, Monzo provides a supportive atmosphere where your contributions are valued and your career can flourish.
StudySmarter Expert Advice🤫
We think this is how you could land Credit Model Validation Manager in London
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
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Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
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We think you need these skills to ace Credit Model Validation Manager in London
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Somi AI.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Somi AI's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Somi AI
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Somi AI.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Somi AI will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Somi AI employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
