Job Description

Business Unit: Risk, Model Risk Management
Salary Range: \xc2\xa342,200 - \xc2\xa352,500 DOE + red-hot benefits
Location: Remote, UK Flexible
Contract Type: Permanent

Get ready to Live a Life More Virgin

Our team

You\'ll be joining the Model Risk Management at an exciting time. With increasing impact from digital approaches on our models, as well as making sure we manage the increasing expectations of our Board and the Regulators.

We need our Risk team to make sure that we are a responsible and safe pair of hands for our customers\' and investors\' money. We are looking for someone who shares our passion to build a better kind of bank and has the determination to help us be successful in this mission.

As part of the Model Risk Management team, you\'ll help to secure the foundations of our business decisions by providing quantitative and qualitative validation across our model suite which covers IRB & decisioning models across Retail and Business portfolios.

What you\'ll be doing:

• Model Validation - validating new and revised models as well as undertaking periodic validations of suites of models
• With an emphasis on IRB models, but close to all the areas of modelling in the Bank: Credit Risk Decisioning Models, Pricing Models, Stress Testing, Fraud Risk & Financial Risk Models
• Providing statistical expertise to inform the discussions between Model Development and Model Risk Management in the model build and review processes
• Giving independent assurance to the Bank\'s Senior Management over the output and use of Models, ensure they are built and operating to internal and external regulatory standards. Where models are less than "fit for purpose" taking appropriate actions to remediate
• Data manipulation and extraction - Ability to extract appropriate data and relevant actionable analysis from a variety of sources
• Providing subject matter expertise and owning any query raised by internal stakeholders of all levels including senior management.

We need you to have

• Experience of independent model validation, model development, Audit & Risk Assurance
• Highly analytical with a good degree in a numerate discipline subject (e.g., maths, statistics, economics etc)
• Excellent data mining skills
• Good knowledge of analytical tools such as Excel and SAS / Python.
• Superb data interpretation and presentation skills
• Brilliant report writing capability, ideally for a Model Risk Committee or equivalent.

It\'s a bonus if you have but not essential

• Good knowledge of Credit Risk Modelling (including PD, EAD and LGD models). Alternatively, a good level of experience within Fraud Risk models, Banking Book Pricing models, or of Banking Book Stress Testing models.
• Knowledge of methods such as regression modelling would be helpful
• Understanding of Capital Requirements Regulations with specific reference to credit models.

Just to flag

Not sure you\'ve all the skills? That\'s okay - still apply as we value passion and potential so tell us why you\'d be great in your application.

Red Hot Rewards

• Generous holidays - 38.5 days annual leave (including bank holidays and prorated if part-time)\xe2\x80\x8b plus the option to buy more
• Up to five extra paid well-being days per year\xe2\x80\x8b
• 20 weeks paid, gender-neutral family leave (52 weeks in total) for expectant parents and those looking to adopt
• Market-leading pension
• Free private medical cover, income protection and life assurance
• Flexible benefits include Cycle to Work, wellness and health assessments, and critical illness
• Ability to work anywhere in the UK\xe2\x80\x8b (where the role allows)

And there\'s no waiting around, you\'ll enjoy these benefits from day one.

Feeling insatiably curious about this role? Apply as soon as you can. If we\'re lucky to receive a lot of interest, we may close the advert early and would hate you to miss out.

We\'re all about helping you Live a Life More Virgin, so happy to talk flexible working with you.

Say hello to Virgin Money
We\'re making great strides towards achieving our ambition of becoming the UK\'s best digital bank. As a full-service digital bank with a heritage stretching back over 180 years, we`re a workforce to be reckoned with. We\'re putting the full power of our experience behind disruptive ideas that reinvent the role a bank plays in people\'s lives. We strive to create positive experiences for our millions of customers and our purpose, \'Making You Happier About Money\', underpins everything we do. We believe in doing banking differently, innovating and working together to make a real difference. Join us and Live a Life More Virgin that empowers you with choice and flexibility in how you work.

Be yourself at Virgin Money
Our purpose is to make people happier about money, this means seeing and feeling the world as our customers do by creating a workforce that reflects the rich diversity of our customers and communities. We\'re committed to creating an inclusive culture where colleagues feel safe and inspired to contribute, speak up and be heard.

As a Disability Confident Leader, we\'re committed to removing any obstacles to inclusion. If you need any reasonable adjustments or support making your application, contact our Talent Acquisition team

Now the legal bit
Living A Life More Virgin allows our colleagues to be based anywhere in the UK (if the role allows it), but we\'ll need you to confirm you have the right to work in the UK.

If you\'re successful in securing a role with us, there are some checks you need to complete before starting. These include credit and criminal record checks and three years\' worth of satisfactory references. If the role is part of the Senior Manager Regime and Certification Regime, it requires enhanced pre-employment checks - we\'ll ask for six years of regulatory references, and once in the role, you\'ll be subject to periodic employment checks.

Advertised: 21 Sep 2023 GMT Daylight Time
Applications close: 05 Oct 2023 GMT Daylight Time

Virgin Money