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Abstract Large scale flood risk analyses are fundamental to many applications requiring national or international overviews of flood risk. While large‐scale climate patterns such as teleconnections and climate change become important at this scale, it remains a challenge to represent the local hydrological cycle over various watersheds in a manner that is physically consistent with climate. As a result, global models tend to suffer from a lack of available scenarios and flexibility that are key for planners, relief organizations, regulators, and the financial services industry to analyze the socioeconomic, demographic, and climatic factors affecting exposure. Here we introduce a data‐driven, global, fast, flexible, and climate‐consistent flood risk modeling framework for applications that do not necessarily require high‐resolution flood mapping. We use statistical and machine learning methods to examine the relationship between historical flood occurrence and impact from the Dartmouth Flood Observatory (1985–2017), and climatic, watershed, and socioeconomic factors for 4,734 HydroSHEDS watersheds globally. Using bias‐corrected output from the NCAR CESM Large Ensemble (1980–2020), and the fitted statistical relationships, we simulate 1 million years of events worldwide along with the population displaced in each event. We discuss potential applications of the model and present global flood hazard and risk maps. The main value of this global flood model lies in its ability to quickly simulate realistic flood events at a resolution that is useful for large‐scale socioeconomic and financial planning, yet we expect it to be useful to climate and natural hazard scientists who are interested in socioeconomic impacts of climate. , Plain Language Summary Flood is among the deadliest and most damaging natural disasters. To protect against large scale flood risk, stakeholders need to understand how floods can occur and their potential impacts. Stakeholders rely on global flood models to provide them with plausible flood scenarios around the world. For a flood model to operate at the global scale, climate effects must be represented in addition to hydrological ones to demonstrate how rivers can overflow throughout the world each year. Global flood models often lack the flexibility and variety of scenarios required by many stakeholders because they are computationally demanding. Designed for applications where detailed local flood impacts are not required, we introduce a rapid and flexible global flood model that can generate hundreds of thousands of scenarios everywhere in the world in a matter of minutes. The model is based on a historical flood database from 1985 to 2017 that is represented using an algorithm that learns from the data. With this model, the output from a global climate model is used to simulate a large sample of floods for risk analyses that are coherent with global climate. Maps of the annual average number of floods and number of displaced people illustrate the models results. , Key Points We present a global flood model built using machine learning methods fitted with historical flood occurrences and impacts Forced with a climate model, the global flood model is fast, flexible and consistent with global climate We provide global flood hazard (occurrence) and risk (population displaced) maps over 4,734 watersheds