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About the Role
Our Credit Model Validation team provides independent oversight and challenge to model development teams, ensuring models used 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 independent validation of models used for credit decisioning within Borrowing strategies, ensuring models are fit for purpose, 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, 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 and modelling teams, and wider risk teams, to embed the model risk framework and establish consistent validation standards.
- 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 machine learning or statistical models used in credit decisioning (e.g., decision science scorecards, origination/underwriting PD models, NPV/unit economics modelling).
- Data-driven with strong analytical skills and deep understanding of statistical techniques for credit and model risk.
- Hands-on SQL and Python skills are essential.
- Experience with data visualization tools such as Tableau, Looker, or similar is a plus.
- Understand 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 problems and solutions clearly to non-experts.
- Track record of building and maintaining trusting relationships with stakeholders at all levels.
- Ability to provide effective and respectful challenge.
- Impact-driven and proactive in identifying issues and opportunities.
- Passion for technology.
Skills
- Credit Model Development
- Credit Model Validation
- Machine Learning Models
- Statistical Models
- Credit Decisioning
- Decision Science Scorecards
- Origination PD Models
- Underwriting PD Models
- NPV Models
- Unit Economics Modelling
- Data Analysis
- Statistical Techniques
- Model Risk
- SQL
- Python
- Data Visualization
- Tableau
- Looker
- Real-time Decisioning
- Lending Strategies
- Communication Skills
- Stakeholder Management
- AI Tools
Location
- London
- Remote (UK)
Work Type
- Flexible working hours
Experience Level
- Manager
Salary/Compensations
- £79,000 - £93,000
- Incentive Awards tied to performance
Benefits
- Incentive Awards
- £1,000 learning budget each year
- MacBooks
- Extra support for work-from-home setup
About the Company
- We’re on a mission to make money work for everyone.
- We are waving goodbye to the complicated and confusing ways of traditional banking.
- Our product offering has grown significantly, including personal and business bank accounts, joint accounts, accounts for 16-17 year olds, a free kids account, credit cards, savings, investments, and pensions.
- We are known for our hot coral cards, get-paid-early feature, financial education on social media, and award-winning customer service.
- We aim to solve problems and change lives through Monzo.
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.
- We are embracing diversity by fostering an inclusive environment for all people to do the best work of their lives with us.