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Senior Mortgage Credit Risk Oversight Manager

Apply now Job no: 692021
Work type: Permanent Full Time, Permanent Part Time
Location: England - Newcastle, England - Leeds, Scotland - Glasgow City Centre, UK
Categories: Credit - Group Risk

Business Unit: Group Risk
Salary: £72,500 - circa £95,000 depending on experience
Location: UK based, remote working with occasional travel to a Hub - Glasgow, Leeds or Newcastle.
Contract Type: Permanent

It’s an exciting time to be joining Risk as we’re growing, and transforming our team into one that is ready to meet the challenges of the future, setting us up to support our ambition to disrupt the status quo. What this means is ensuring we have the right skills, capability and capacity within Risk to manage the growth and digital ambitions expected of a Tier 1 bank and we’re on the lookout for like-minded individuals and innovators to help drive our strategy forward!

You'll be a key member of the team responsible for the 2LOD for credit risk for secured lending. As the Senior Oversight Manager, you'll be accountable with the Head of Mortgage Credit for the credit performance of the secured portfolio (Virgin Money, Clydesdale and Yorkshire bank brands) across the credit life cycle (acquisition, account management and collections) and responsible for the ownership and setting of the bank’s credit risk appetite and policy. Supporting the commercial teams through oversight of credit strategies to deliver growth plans within the agreed risk appetite and regulations.

The core role of our Leaders is to deliver the very best performance through their people by keeping our Purpose, Strategic Aims and Values & Behaviours at the heart of all they do whilst developing their team with stretching goals to build capability and ambition.

Day to day you’ll:
Use your experience and expert judgement in the design and setting of appropriate acquisition, account management and collections credit risk appetite, guardrails and policy for the secured portfolio. Through oversight and independent investigation provide assurance, support and recommendations into the design, implementation and monitoring of credit risk strategies and policies ensuring they adhere to the Risk Appetite Statements and applicable regulations whilst allowing safe, profitable secured lending growth. Including:

• Acquisition strategies and processes, including pricing through the acquisition process, including pre eligibility tools.
• Existing customer retention strategies
• Pre arrears, arrears and recovery strategies
• Oversight of new proposition development
• Ensuring consideration of impacts on capital consumption and impairment forecasts
• Support the secured commercial team to design improved customer journeys for the required products

Monitoring the health of the portfolio and performance of credit strategies, regularly producing high quality reports to appropriate risk governance including Credit risk forums, Secured commercial meetings and Credit Risk Committees. Escalating relevant points to the Head of Mortgage Credit, the Secured commercial team and the Chief Credit Officer.

Working closely with the wider credit team to ensure models are utilised correctly, provision forecasts are reflective of expected portfolio performance and systems, data and reporting are implemented accurately.

There are a few essentials you need to bring…
• Subject matter expertise in Secured lending products.
• A good working knowledge of policies and procedures in credit risk management.
• Experience in the development and / or oversight of credit risk strategies.
• Capacity to handle high workflows and prioritise appropriately, ensuring tasks are completed within required timeframes.
• Expertise in interpreting data analytics with a tenacity to look beyond headline information to identify inconsistent trends.
• Experience in coaching and developing a small team of technical individuals.
• Experience of building trusted relationships with a wide range of stakeholders at all levels.
• Excellent and effective communication skills, both verbal and written, with experience of managing challenge to get the best outcome.
• Experience in setting strategic direction, understanding challenges and opportunities presented by the market and regulation.
• High motivation and be able to demonstrate a professional "can do" attitude.

We'd love you to have (but not essential)…
• A good understanding of IRB and IFRS9 Models.
• An understanding of proposition and system development.

We really need you to have the skills and experience listed in the essentials 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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