📍London OR Remote | 💰Salary dependant on experience  + Benefits |

About us: 

We’re here to make money work for everyone and we're doing things differently. For too long, banking has been obtuse, complex and opaque.

We want to change that and build a bank with everyone, for everyone. Our amazing community suggests features, test the app and give us constant feedback so we can build something everyone loves.

We're focused on solving problems, rather than selling financial products. We want to make the world a better place and change people's lives through Monzo.

Your day-to-day   

The second line of defence Credit Risk team (that’s us!) provides support to our colleagues in Borrowing to help Monzo grow safely. We’re looking for someone (maybe you?) to help ensure the models we use are not only good for Monzo but what's best for our customers.

The Role

You will: 

  • Perform independent model validation as part of our second line of defence Credit Risk teams and making sure the credit risk models are fit for purpose
  • Improve the IFRS9 Operating Model and Framework, challenging provisioning adequacy, validating IFRS9 models and building governance and controls around the framework
  • Improve Model Risk Framework including policies, standards and procedures helping to embed best practice in the business. Making sure it follows up-to date regulatory guidelines and it is relevant for modern modelling techniques
  • Write clear and impactful model validation reports and present the findings in relevant committees

You should apply if are:

  • You are highly motivated and energised by the idea of bringing positive impact to our customers and Monzo
  • You are self-motivated and thrive in a fast-paced environment
  • You have great attention to detail while keeping an eye on the big picture
  • You are a great communicator, able to articulate complex problems
  • You can provide effective challenge whilst building strong, respectful relationships
  • You are keen to grow your knowledge in both business and technology

And if you have:

  • Experience in developing and/or validating IFRS 9, regulatory capital, stress testing, forecasting
  • In-depth knowledge of statistical techniques for management of credit risk
  • Strong understanding of estimation and measurement of one or some of the following:
    • Expected and unexpected credit losses
    • Use of economic scenarios and forecasting
    • PD, LGD and EAD within IFRS 9 
  • Credit risk management knowledge/experience
  • Experience in consumer lending business or similar industry

Even better if you have:

  • Strong technical skills such as SQL or Python
  • Experience of managing a modelling project through its full lifecycle
  • Working knowledge of machine learning models: gradient boosted trees, etc

The Interview Process:

Our interview process involves three main stages: 

  1. Recruiter Call (30mins)
  2. Initial Call (30 mins)
  3. x2 interviews via Google Meet (x2 60mins)

Our average process takes around 2-3 weeks but we will always work around your availability. 

You will have the chance to speak to our recruitment team at various points during your process but if you do have any specific questions or want to talk through reasonable adjustments ahead of or during application please us at any point on core-hiring@monzo.com


What’s in it for you:

💰 Salary is dependant on experience ➕ stock options 

📍 This role can be based out of our London office next to Liverpool Street station - in a hybrid way of working between the office and home. Or, we would look at candidates on a fully remote basis. 

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

📚 Learning budget of £1,000 a year for books, training courses and conferences

➕ And much more, see our full list of benefits here 


Equal Opportunity Statement

We are actively creating an equitable environment for every Monzonaut to thrive.

Diversity and inclusion are a priority for us and we are making sure we have lots of support for all of our people to grow at Monzo. At Monzo, embracing diversity in all of its forms and 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,  2021 Diversity and Inclusion Report and 2021 Gender Pay Gap Report.

We're an equal opportunity employer. All applicants will be considered for employment without attention to ethnicity, religion, sexual orientation, gender identity, family or parental status, national origin, veteran, neurodiversity status or disability status.


#LI-JB1 #LI-REMOTE

Apply for this Job

* Required
resume chosen  
(File types: pdf, doc, docx, txt, rtf)
cover_letter chosen  
(File types: pdf, doc, docx, txt, rtf)


👤 Identity survey

Our goal at Monzo is to make money work for everyone. To do that, working at Monzo must work for everyone. We want to create an equitable, engaged and innovative workplace which gives people from all backgrounds the support they need to thrive and grow. 

Making Monzo work for everyone starts right at the beginning of every Monzonaut's journey: when they apply to work here. This demographic survey will help us better understand the people who apply to work at Monzo. It'll help us see how different groups progress through our hiring process, and where we need to make improvements to be more inclusive. If you choose to fill it out, all of the information you give us is:

  • Voluntary. And we've included a "prefer not to say" option for every question. It'd be helpful if you still fill out the survey even if you choose "prefer not to say" for every question, as it's useful for us to understand & record this. We won't know if you choose to fill this survey in or not.
  • Anonymous to Monzo. We can't tie your responses to you and they won't make a difference to the outcome of your application. We'll only use grouped responses for equal opportunities monitoring in our hiring process.

For more information on how we'll use this data, please read our candidate privacy notice.

By filling out this survey, you agree that we can use your responses for the purposes we've mentioned above. You are not letting us know if we need to make any adjustments to the hiring process because of disability or neurodiversity - to do this please email us.

How would you describe your gender identity?






Do you identify as transgender?



What's your sexual orientation?







Do you identify as having a disability?



Do you consider yourself to be neurodiverse?



How would your describe your ethnicity?