Credit Model Validation Manager

Overview

This role supports the organization’s growing borrowing (lending) business through independent credit model validation. The Credit Model Validation team provides independent oversight and challenge to model development teams, helping ensure models are fit for purpose, appropriately governed, and deliver good outcomes for customers.

This is a generalist credit model validation position covering a broad suite of credit models (not focused on a single model type).

Responsibilities

• Lead hands-on independent validation across a credit model portfolio covering models used for:
  • IFRS 9 impairment
  • capital
  • stress testing
  • forecasting
  • credit decisioning
  • unit economics
• Review and challenge key model-led credit risk assessments, including impairment adequacy, ICAAP, and stress testing, using independent analysis of assumptions, limitations, and impacts.
• Develop a deep understanding of how the organization’s credit models are built and used, providing impactful input and challenge to model developers and users.
• Improve how model validation is performed by making it more consistent, scalable, and technology-enabled:
  • build reusable analytical tools and tests
  • experiment with AI-assisted approaches
  • help embed approaches safely
• Review ongoing model performance monitoring to ensure lending models perform within risk thresholds, and support first line of defence teams when action is required.
• Perform statistical analyses, model replication, and challenger work where appropriate to test assumptions and strengthen validation conclusions.
• Improve and help embed the Model Risk Framework, including policies, standards, model inventory, governance, and the validation approach; ensure adherence to up-to-date regulatory expectations and proportionate, relevant processes as modelling techniques evolve.
• Write clear, impactful model validation reports and present findings and actions to relevant committees.
• Partner with first line of defence credit strategy, modelling, and finance teams, and with wider risk teams, to support effective model governance and consistent validation standards.

Requirements

• Strong background and practical experience in credit model development and/or validation across a range of model types.
• Meaningful experience with:
  • IFRS 9 impairment
  • Internal Ratings Based (IRB) or other capital models
• Broader exposure to one or more areas such as:
  • stress testing
  • economic response
  • forecasting
  • decision science scorecards
  • NPV / unit economics modelling
• Practical understanding of model risk management, including independent validation, model governance, ongoing monitoring, model change, and issue management—plus how regulatory expectations apply across the model lifecycle.
• Impact-driven approach: able to improve validation practices beyond completing individual reviews by turning repeatable work into practical methods, tools, or guidance.
• Data-driven mindset with strong analytical skills and deep knowledge of statistical techniques for credit and model risk.
• Strong SQL and Python skills (essential), including the ability to produce clear, reusable, and tested code using collaborative practices such as version control, peer review, and documentation.
• Familiarity with assessing models in the context of how they are used (e.g., accounting, capital, credit strategy, risk appetite, and customer outcomes), and the ability to distinguish technical model performance from wider risks of relying on the model.
• Strong written and verbal communication skills, able to explain complex issues and priorities clearly to non-experts.
• Track record of building and maintaining trusted stakeholder relationships and providing effective, respectful challenge.
• Comfortable getting into data and code to form an independent view across different model types.
• Experience with AI-assisted analytical or coding tools is useful but not essential.

Preferred Qualifications

• Experience with Tableau, Looker, or similar tools.

Compensation & Benefits

• Salary: £79,000 - £93,000
• Incentive awards tied to performance
• Learning budget: £1,000 each year for books, training courses, and conferences
• Flexible working hours
• Ability to work from home; employees are provided MacBooks, and fully remote workers receive extra support for their work-from-home setup
• Benefits package available (full list referenced in the original posting)

Location

• London or Remote (UK)
• Distributed working within the UK is supported, with ad hoc meetings in London.