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Credit Technical Specialist - Risk

Apply now Job no: 048589
Work type: Permanent Full Time
Location: England - Newcastle, England - North East, England - Leeds, Scotland - Glasgow City Centre, UK
Categories: Risk&Audit

Business Unit: Group Risk 
Salary: £35,000 - circa £44,000 depending on experience
Location: Glasgow, Newcastle or Leeds are ideal but we're flexible
Employment Type: Permanent, full time

Disrupt the status quo. It’s a simple statement that tells you everything about our ambition. It’s about thinking what money could be, instead of what it’s always been. Thinking this way gives us so many opportunities to make our customers happier. We’re not like other banks – and we want you to help us be even more exceptional.

And that’s were our Risk department come in.  They provide us with a fool proof framework to make decisions that we know will keep our customers’ and investors’ money safe.  They are always safeguarding our bank from an array of risks that could pop up at any moment.

In nutshell…
In this fantastic role, you will be responsible for supporting the operational remit of the Group Credit Stress Testing team to execute and efficiently deliver regulatory and internal Credit Stress Tests to both internal and external stakeholders. This is a fast paced and multifaceted role that will encompass aspects of process improvement, change management, documentation and data analysis with an emphasis on implementing and managing changes within the Credit Stress Testing SAS Engines and Excel Interface, and the review and interpretation of credit stress test forecasts of credit RWA and impairments. 

And there is more… as the Group are now part of the Bank of England’s annual concurrent stress test, this will provide you with a unique opportunity to broaden experience and build knowledge through playing an active role in the delivery of a key regulatory exercise.

Day to day you will be…
• Supporting management in the production of stress testing outputs, insights and associated documentation, recommending/highlighting areas for further investigation/exploration.
• Working closely with management to independently implement changes to the SAS based Stress Testing Engines and associated analytical tools and Excel interfaces, with evidenced assurance of implementation communicated effectively to management.
• Supporting management in the implementation and continued maintenance of enhanced IRB models and IFRS9 forecasting capability within the overall Credit Stress Test process
• Providing technical support to other members of the team when required 
• Supporting integration of any future data infrastructure changes to ensure data used in Credit Stress Testing is fit for purpose.
• Continually assessing and identifying SAS processes/code to promote simplification and automation, reducing any operational risk inherent in the current environment
• Ensuring that any changes to the process/code are clearly documented to a high standard enabling others to understand and execute tasks independently
• Maintaining an effective version control process, adequate for a high volume of complex change
• Ensuring continued credit stress testing data consistency with quarterly PRA templates.
• Take ownership of own workload, and support team planning and prioritisation.

To be brilliant you’ll need to bring…
• Good knowledge in the use of statistical analysis software SAS.
• The ability to implement with speed and efficiency as well as driving process improvements 
• Good communication skills to be able to effectively communicate complex processes and outputs to colleagues with varying levels of technical knowledge 
• A real passion for working collaboratively as a team
• The ability to make timely and appropriate decisions and take accountability for actions 
• Superb analytical ability to solve complex problems with a keen attention to detail
• Relevant tertiary qualification or relevant Industry experience
• Knowledge of Credit Risk, particularly an understanding of Credit Risk Metrics such as PD/LGD/EAD

The icing on the case would be…
• Experience in a Credit Stress Testing environment with proven exposure to processing stress and scenario outputs and the development of Credit Stress Testing models
• Experience of economic time series analysis.
• Coding expertise in R, R Shiny or Python languages.
• Familiarity with STDF template submissions associated with the Bank of England annual concurrent stress test exercise.
• Understanding of Capital Requirement Regulations (CRR) and IFRS9 accounting standard.
• Professional experience in the MS Office suite, including VBa.
• Previous experience of managing change to ensure smooth transition from old to new processes

We really need you to have the skills and experience listed in the ‘to be brilliant’ section above, but the rest is just our wish list, so please don’t let that put you off applying, we’d love to hear from you!

RED HOT Rewards
• A generous holiday package and the option to buy more!
• Private Medical Insurance - with the option to extend to family members.
• Pension!  A market leading pension – we’ll top up your contributions too.
• Flexible benefits – customise your rewards to work for you!

Inclusion at Virgin Money
Inclusion is at the heart of everything we do here at Virgin Money. It’s good for you, it’s good for us and it’s amazing for our customers. We know that great minds don’t think alike, so we rely on your diverse thoughts, feelings, beliefs and backgrounds to be the best we can possibly be. Got any questions about this or need some support with your application? We’d love to hear from you so get in touch with our friendly team at or

Point to note…
At the minute, depending on which team you are joining, lots of us are working from home. This is something that may change over time, and if so, we will come together in one of our hub locations, giving you the chance to meet your new colleagues in person. We will of course, make sure you have the IT equipment to access our systems and to interact digitally with your new team and colleagues, but we thought it best to let you know this in advance, so you can make sure you are set up to work safely and productively. If you have any questions on this let us know!

Now the legal bit…
If we offer you a job and you accept, there are some checks we need to complete before you can start with us. This will include a credit and criminal record check, as well as providing 3 years' worth of satisfactory references.


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Applications close: GMT Daylight Time

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