Head of Model Risk Oversight

About the role

Monzo is looking for a senior leader to own the Model Risk Management (MRM) function for its European operations. Reporting to the Director of Credit Risk, you will ensure that all statistical and AI‑driven models used across the business are sound, compliant, and aligned with the firm’s risk appetite.

Key responsibilities

• Define, implement and maintain an EU‑wide MRM framework, including risk appetite, assessment processes, reporting, and validation schedules.
• Lead the Model Risk Oversight Committee and coordinate reporting to the Executive Risk Committee and Board Risk Committee.
• Develop and maintain a central suite of model validation standards and performance monitoring tools.
• Maintain the MBEU model inventory, including AI use‑case registries, and ensure proper tiering under the EU AI Act.
• Embed group‑wide model risk governance into local policies and manage escalation protocols.
• Oversee independent 2LOD validation of all material models, including credit scoring, fraud detection, and stress‑testing models.

Required profile

• Proven leadership experience in model risk management within a financial institution.
• Deep understanding of EU regulatory expectations, including the AI Act.
• Ability to influence senior stakeholders and drive governance processes across a multinational organization.

Required skills

What we offer

• Competitive salary €124,000‑€167,000 per year plus performance‑based incentive awards.
• Comprehensive benefits package.
• Opportunity to shape risk governance for a fast‑growing digital bank.