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Mortgage Models Specialist - Risk

Apply now Job no: 049491
Work type: Permanent Full Time
Location: England - Newcastle, England - Leeds, Scotland - Glasgow City Centre, UK
Categories: Risk&Audit

Business Unit: Mortgage Models, Group Risk
Salary: £38,882 - circa £48,000
Location: Glasgow, Leeds, Newcastle are ideal but we're flexible
Contract 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.

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 Mortgage Models team you’ll help to secure the foundations of our business decisions by providing quantitative and qualitative analysis across our model suite.

This role is all about….
• Leading model developments and analysis; providing input into the scoping, design, development, validation and implementation of mortgage models, in line with Bank standards and regulatory compliance requirements
• Providing high quality model documentation and recommendation papers to governance committees - keeping it straightforward
• Supporting coaching and development of risk analysts
• Gain support for model changes from key stakeholders and participating in and facilitate networks internally and across the wider Bank
• Data manipulation and extraction – extracting appropriate data and relevant actionable analysis from a variety of sources.

There are a few essentials you need to bring…
• Experience of statistical model building or validation
• Highly analytical with a good degree in a numerate discipline subject (e.g. maths, statistics, economics etc)
• Excellent data mining skills
• Coding experience with statistical software such as SAS, R, Phyton
• Excellent data interpretation and presentation skills
• Excellent report writing skills, 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 knowledge of Financial models, or Banking Book Pricing models, or of Operational Risk models, or of Banking Book Stress Testing models. Knowledge of methods such as regression modelling Coaching/mentoring experience.
• Knowledge of the Basel Capital Requirements Regulation

We’d really like you to have the skills and experience listed in the essentials you’ll need to bring 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.

Advertised: GMT Daylight Time
Applications close: GMT Daylight Time

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