Experteer Overview
In this role, you will lead the EU-wide Model Risk Management function for Monzo Bank Europe, ensuring mathematical soundness and regulatory alignment of models across credit, fraud, and risk domains. You will drive framework design, validation standards, and governance, coordinating committees and reporting to senior leadership. You will establish scalable 2LOD validation processes for advanced models and AI use cases. This position is pivotal to maintaining risk discipline while enabling responsible growth in Europe.

Compensaciones / Beneficios
• Define and maintain the EU-wide Model Risk Management framework and validation standards
• Lead the Model Risk Oversight Committee (MROC) and ensure reporting to ERC and BRC
• Maintain centralized model validation standards and model inventory with AI use case registries
• Oversee 2LOD independent validation across credit, fraud/financial crime, and financial risk domains
• Establish monitoring standards (back-testing, back-bench, drift detection) and issue 2LOD opinions on model changes
• Lead governance, escalation protocols, and regulatory alignment including ECB/EBA guidelines and GDPR
• Coordinate external regulator interactions and ensure alignment of risk governance with global frameworks




• Drive the adoption of AI governance and validation protocols for ML/AI use cases
• Manage resources, budget, and stakeholder engagement to scale the 2LOD function
• Provide clear technical challenge to 1LOD and report validation findings to leadership

Responsabilidades
• Post-graduate degree in a quantitative discipline (MSc or PhD)
• Extensive experience in quantitative Model Risk Management in financial institutions or regulatory consulting
• Strong knowledge of credit risk modeling (PD, LGD, EAD), IFRS 9 impairment, ICAAP/ILAA P, stress testing, and fraud modelling
• Deep understanding of ECB/ EBA guidelines, CCD2, GDPR, and European AI Act
• Proficient in SQL and Python; experience with AI/ML governance
• Proven track record in designing and scaling model risk governance frameworks
• Ability to translate complex quantitative concepts into clear risk insights for senior management and the board
• Strong stakeholder management and ability to challenge 1LOD constructively

Requisitos principales
• salary 102,000 - 138,000 + incentive awards
• relocation support to Spain
• versátil working hours
• 38 days annual leave
• private healthcare
• learning budget 1,200 EUR/year

📌 Head of Model Risk Oversight (Madrid)
🏢 Monzo Bank
📍 Madrid