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About the Role

Our Credit Model Validation team provides independent oversight and challenge to model development teams, ensuring models deliver good outcomes for customers. This role focuses on providing expert validation and oversight across credit models, particularly those used for customer-level decisioning and credit strategies.

Responsibilities

• Lead hands-on independent validation of models used for credit decisioning within Borrowing strategies, ensuring models are fit for purpose, appropriately governed, explainable, and performing as expected.
• Support oversight and validation of broader credit risk models, including IFRS9, stress testing, and economic response models.
• Develop deep understanding of Monzo’s credit models to provide impactful input and challenge to model developers.
• Review ongoing model performance monitoring to ensure lending models perform within risk thresholds.
• Perform statistical analyses to independently assess model performance, including developing challenger models.
• Improve the Model Risk Framework by overseeing policies, standards, and procedures to embed best practice and comply with regulatory guidelines.
• Write clear and impactful model validation reports and present findings and actions in relevant committees.
• Partner with colleagues in credit strategy, modelling, and wider risk teams to support the embedding of the model risk framework.
• Embrace new technology, including leading the adoption of AI tools to enhance model validation.

Requirements

• Strong background and practical experience in credit model development and/or validation.
• Exposure to decision science scorecards (including machine learning models), origination/underwriting PD models, and NPV/unit economics modelling.
• Data-driven with strong analytical skills and deep understanding of statistical techniques for credit and model risk.
• Confident using SQL and Python for hands-on data analysis.
• Understanding of how models are used in real-time decisioning and lending strategies.
• Ability to balance commercial and risk outcomes.
• Strong written and verbal communication skills, able to articulate complex issues to non-experts.
• Track record of building and maintaining trusting relationships with stakeholders.
• Proactive in identifying issues and opportunities for improvement.
• Passion for technology.

Skills

• Credit Model Development
• Credit Model Validation
• Decision Science Scorecards
• Machine Learning Models
• Origination/Underwriting PD Models
• NPV/Unit Economics Modelling
• Statistical Techniques
• SQL
• Python
• Data Visualization Tools (e.g., Tableau, Looker)
• Credit Risk Modelling
• AI Tools

Location

• London
• Remote (UK)

Work Type

• Full-time
• Flexible working hours

Experience Level

• Manager

Salary/Compensations

• £79,000 - £93,000
• Incentive Awards tied to performance

Benefits

• Incentive Awards tied to performance
• Flexible working hours
• £1,000 learning budget each year
• MacBooks provided
• Extra support for work-from-home setup

About the Company

• Monzo is on a mission to make money work for everyone, moving away from traditional banking complexities.
• The company has grown significantly over 10 years, offering personal and business accounts, joint accounts, accounts for 16-17 year olds, kids accounts, credit cards, savings, investments, and pensions.
• Monzo focuses on solving problems and changing lives through its products and services.

Equal Opportunity

• All applicants will be considered for employment without attention to age, ethnicity, religion, sex, sexual orientation, gender identity, family or parental status, national origin, or veteran, neurodiversity or disability status.
• Monzo is committed to fostering an inclusive environment for all people to do the best work of their lives.