- Company: Monzo
- Location: Cardiff, London or Remote (UK)
- Job type: Full-time
- Salary: £79,000 – £93,000 + Incentive Awards
✅ Visa sponsor check: Monzo Bank Ltd (London) is on the UK Home Office register of licensed sponsors for Skilled Worker, Global Business Mobility: Senior or Specialist Worker (A rating), checked 29 October 2026. Being a licensed sponsor doesn’t guarantee sponsorship for this role: confirm it with the employer, and never pay anyone for a Certificate of Sponsorship.
About the role
Monzo is expanding its borrowing business and is looking for a Credit Model Validation Manager to join the second line of defence. This generalist role focuses on providing independent oversight and challenge to model development teams. You will ensure that credit models are fit for purpose, appropriately governed, and deliver positive customer outcomes. The position is available in London or as a remote role within the UK.
Responsibilities
- Lead hands-on independent validation across Monzo’s credit model portfolio, including IFRS 9 impairment, capital, stress testing, and credit decisioning models.
- Review and challenge key model-led credit risk assessments, such as impairment adequacy and ICAAP, using independent analysis.
- Develop a deep understanding of how Monzo’s credit models are used to provide impactful input to developers and users.
- Contribute to making model validation more consistent and scalable by building reusable analytical tools and experimenting with AI-assisted approaches.
- Review ongoing model performance monitoring to ensure lending models stay within risk thresholds.
- Perform statistical analyses, model replication, and challenger work to test assumptions and strengthen validation conclusions.
- Improve and embed the Model Risk Framework, ensuring compliance with regulatory expectations and proportionate processes.
- Write clear validation reports and present findings to relevant committees.
- Partner with first line of defence teams and wider risk colleagues to support effective model governance.
Requirements
- Strong background in credit model development and/or validation across various model types.
- Meaningful experience with IFRS 9 impairment, Internal Ratings Based (IRB) or other capital models.
- Broad exposure to stress testing, economic response, forecasting, decision science scorecards, or NPV / unit economics modelling.
- Practical understanding of model risk management, including independent validation, governance, and regulatory expectations.
- Strong analytical skills with deep knowledge of statistical techniques for credit and model risk.
- Essential strong SQL and Python skills, with the ability to produce clear, reusable, and tested code.
- Strong written and verbal communication skills to articulate complex issues to non-experts.
- Track record of building trusting relationships with stakeholders and providing effective challenge.
Pay and benefits
- Salary range of £79,000 – £93,000.
- Incentive Awards tied to performance.
- Flexible working hours.
- £1,000 annual learning budget for books, training, and conferences.
- Home working setup support, including a MacBook and additional equipment for remote workers.
How to apply
Apply directly on Monzo’s own careers website. Omadaily never charges job seekers.
