Credit Model Validation Manager

Monzo; United States; Hybrid; USD 106,000 - 124,000; Full time

Benefits offered by this job

Learning budget

Home‑office setup support

Hybrid working (London/UK)

Job summary

Monzo is hiring a Credit Model Validation Manager to independently validate a broad portfolio of credit models, including IFRS 9 impairment, ICAAP and stress testing. You will challenge risk assessments, develop reusable analytics, and help advance the Model Risk Framework while communicating findings to governance bodies.

You will work with risk, strategy and finance teams to ensure model governance, quality and compliant validation practices across the organisation.

Qualifications

• Strong background in credit model development or validation across multiple model types.
• Experience with IFRS 9 impairment, IRB or other capital models, plus stress testing and forecasting.
• Proficient in SQL and Python with ability to write reusable, tested code.
• Knowledge of model risk management, governance, ongoing monitoring and change control.
• Familiarity with AI/automation concepts and responsible use in analytics.

Responsibilities

• Lead independent validation across the credit model portfolio, incl. IFRS 9, capital and stress testing.
• Challenge impairments, ICAAP, and risk assessments using independent analyses.
• Develop deep understanding of credit models and provide actionable input to developers.
• Create scalable validation tools and tests, exploring AI-assisted approaches safely.
• Monitor model performance and support first line in governance and action.
• Improve Model Risk Framework, governance, inventory and standards across the organisation.
• Draft clear validation reports and present findings to committees.
• Collaborate with risk, credit strategy and finance teams to align validation standards.

Skills

Credit model validation

IFRS 9 impairment

IRB/capital models

Statistical techniques

SQL

Python

Model risk governance

Stakeholder management

Tools

Python

SQL

BigQuery

dbt

Go

AWS

Looker/Tableau

Job description

We're on a mission to make money work for everyone.

We're waving goodbye to the complicated and confusing ways of traditional banking.

After starting as a prepaid card, our product offering has grown a lot in the last 10 years in the UK. As well as personal and business bank accounts, we offer joint accounts, accounts for 16-17 year olds, a free kids account and credit cards in the UK, with more exciting things to come beyond. Our UK customers can also save, invest and combine their pensions with us.

With our hot coral cards and get-paid-early feature, combined with financial education on social media and our award winning customer service, we have a long history of creating magical moments for our customers!

We're not about selling products - we want to solve problems and change lives through the company

London or Remote (UK) | £79,000 - £93,000 + Incentive Awards tied to your performance + Benefits

Our Borrowing (lending) business is growing rapidly across both existing products and with the planned launch of new initiatives. As our lending portfolio grows, our second line of defence Credit Model Validation team is growing with it - and we're looking for a Credit Model Validation Manager to join us!

About the team

Our Credit Model Validation team provides independent oversight and challenge to our model development teams in the first line of defence. We help the company grow safely and make sure the models we use are fit for purpose, appropriately governed and deliver good outcomes for our customers. You'll join our validation squad and provide expert independent validation and oversight across a broad suite of credit models.

Your day-to-day

• Leading hands‑on independent validation across the company’s credit model portfolio - covering models used for IFRS 9 impairment, capital and stress testing, forecasting, credit decisioning and unit economics - and making sure they are fit for purpose, appropriately governed and performing as expected
• Reviewing and challenging key model‑led credit risk assessments, including impairment adequacy, ICAAP and stress testing, using independent analysis to assess assumptions, limitations and impacts
• Developing a deep understanding of the company’s credit models and how they are used, and using this to provide impactful input and challenge to model developers and users
• Contributing to making model validation more consistent, scalable and technology‑enabled - building reusable analytical tools and tests, experimenting with AI‑assisted approaches and helping the team embed them safely
• Reviewing ongoing model performance monitoring to ensure our lending models perform within our risk thresholds, and providing support to our first line of defence teams when action is required
• Performing statistical analyses, model replication and challenger work where appropriate to test assumptions, assess performance and strengthen validation conclusionsImproving and helping to embed our Model Risk Framework, including our policies, standards, model inventory, governance and validation approach. This means making sure we follow up‑to‑date regulatory expectations and that our processes remain proportionate and relevant as modelling techniques evolve
• Writing clear and impactful model validation reports, and presenting the findings and actions in relevant committees
• Partnering with colleagues in first line of defence credit strategy, modelling and finance teams - and with wider risk teams across the company - to support effective model governance and consistent validation standards across the organisation

You should apply if you:

• Have a strong background and practical experience in credit model development and/or validation across a range of model types. You'll have meaningful experience with IFRS 9 impairment, Internal Ratings Based (IRB) or other capital models, alongside broader exposure to several areas such as stress testing, economic response, forecasting, decision science scorecards or NPV / unit economics modelling
• Understand model risk management in practice, including independent validation, model governance, ongoing monitoring, model change and issue management, and how regulatory expectations apply across the model lifecycle
• Are impact-driven and want to improve how validation is done, not only complete individual reviews. You can turn repeatable work into practical methods, tools or guidance that improve quality and consistency across the team.
• Are curious about AI and automation, and can assess where they add value, the risks they introduce, and the controls and human oversight needed. Experience with AI‑assisted analytical or coding tools is useful, but not essential
• Are data driven, with strong analytical skills and deep knowledge of statistical techniques for credit and model risk. Strong SQL and Python skills are essential. You can produce clear, reusable and tested code, using collaborative practices such as version control, peer review and documentation. Experience with Tableau, Looker or similar is a plus.
• Can assess models in the context of how they are used - including accounting, capital, credit strategy, risk appetite and customer outcomes - and can distinguish technical model performance from the wider risks of relying on the model
• Have strong written and verbal communication skills, and are able to articulate problems and solutions using clear and simple language. This is particularly important for breaking down complex issues and priorities to non‑experts
• Have a track record of building and maintaining trusting relationships with stakeholders at all levels, and can provide effective and respectful challenge

Our technology stack

We rely heavily on the following tools and technologies (note we do not expect applicants to have prior experience of all them):

• Google Cloud Platform for all of our analytics infrastructure
• dbt and BigQuery SQL for our data modelling and warehousing
• Python for data science and machine learning
• Go to write our application code
• AWS for most of our backend infrastructure

The interview process

• An initial call with our recruiter
• A call with our Senior Model Validation Manager, the hiring manager for the role
• A role‑specific call with colleagues from our credit modelling and model risk teams. We'll share a short case study in advance, but you won't need to submit a written response; we'll use it to guide the discussion during the interview.
• A behavioural interview

What’s in it for you

• £79,000 - £93,000 + Incentive Awards tied to your performance benefits.

• This role can be based in our London office, but we're open to distributed working within the UK (with ad hoc meetings in London).

• We offer flexible working hours and trust you to work enough hours to do your job well, and at times that suit you and your team.

• £1,000 learning budget each year to use on books, training courses and conferences.

• We will set you up to work from home; all employees are given MacBooks and for fully remote workers we will provide extra support for your work-from-home setup.

• Plus lots more! Read our full list of benefits.

We have some guidelines on using Artificial Intelligence (AI) to ace an application and interview at the company. You can read them here.

Equal opportunities for everyone

Diversity and inclusion are a priority for us and we’re making sure we have lots of support for all of our people to grow at the company. At the company, we’re embracing diversity by fostering an inclusive environment for all people to do the best work of their lives with us. This is integral to our mission of making money work for everyone. You can read more in our blog, 2026 Diversity and Inclusion Report and 2025 Gender Pay Gap Report.

We're an equal opportunity employer. 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.

If you have a preferred name, please use it to apply. We don't need full or birth names at application stage