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Senior Analyst Model Risk Oversight

Apply now Job no: 693955
Work type: Permanent Full Time
Location: Remote - work from anywhere within the UK
Categories: Risk&Audit

Business Unit – Risk, Financial Risk and Model Risk Oversight.
Salary range - £36,800 - £55,200
Contract type – Permanent

It’s an exciting time to be joining Risk as we are growing and transforming our team into one that is ready to meet 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, capabilities, 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 would be joining the Model Risk Oversight 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 are expanding! As part of the Model Risk Oversight team, you’ll help to secure the foundations of our business decisions by providing quantitative and qualitative validation across our model landscape.

Here's what you'll be doing:

  • Supporting the validation of models to ensure models across the business are fit for purpose
  • There is an emphasis on Stress Testing/ Climate Risk/ IFRS 9 models but also opportunity to be involved with IRB, Pricing or other models
  • Engaging with model owners, gathering materials for analysis, challenging model performance or development and documenting your findings
  • Data manipulation and extraction – extract appropriate data and relevant actionable analysis from a variety of sources
  • Generating model validation reports and ensuring that validation action points are followed through to a resolution
  • Providing assurance on compliance with the regulatory requirements we work within
  • Supporting the continuous learning and development of a best practice modelling culture within the bank
  • Offering insight and recommendations that contribute to achieving best in class risk models

To be successful you’ll need to bring:

• Ability to analyse and interpret data and understand algorithms
• Experience analysing data using Excel and ideally SAS
• Experience interpreting and presenting data
• The ability to solve complex problems independently
• Influencing skills; the ability to form arguments and to deliver them effectively verbally and in written form
• Stakeholder management - ability to build successful and collaborative relationships is key
• Ability to write a clear and concise report

We would like you to have (but not essential):

• Some knowledge of typical products of a Retail bank such as Mortgages or Credit Cards
• Some knowledge of credit risk models such as PD, EAD or LGD. Alternatively, some knowledge of financial models, or Banking Book Pricing models or Macroeconomic models
• A degree in a numerate discipline subject (e.g. maths, statistics, economics etc).

The list above is not comprehensive, and we are open to applications from strong candidates who are interested and capable.

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 careers team at careers@virginmoney.com.

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 will need to you to confirm you have the Right to Work in the UK.

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.

Advertised: GMT Daylight Time
Applications close: GMT Daylight Time

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