Skip to content

Kick off your job search

Search our opportunities to find your fit

Calculator Control Analyst - Risk

Apply now Job no: 692007
Work type: Permanent Full Time
Location: England - Newcastle, England - Leeds, Scotland - Glasgow City Centre, UK
Categories: Risk&Audit, Model Risk Oversight - Group Risk

Business Unit: Group Risk, Financial Risk, Model Risk Oversight (MRO)
Salary: £35,000 - circa £50,000
Location: Flexible, UK based
Contract type: Permanent

In our quest to make things better, we never stop looking at how every bit of banking works. We sweat the small stuff, because we know it makes a big difference for our customers. But at the heart of this are our people – who we couldn’t do without. Our bold and brilliant colleagues who bring their A game every single day. The question is – are you ready to bring yours?

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'd be joining the Model Risk Oversight team at an exciting time. With increasing impact from digital approaches on our models and calculators, as well as making sure we manage the increasing expectations of our Board and the Regulators we are expanding! We have several new roles to enhance our capability to keep up with the demands and we are looking for experienced individuals to join our growing team.

The role is all about…
• Calculator Validation – applying a risk-based approach to the review and validation of new and existing calculators, balancing the risk, regulatory requirements, and industry best practice. This includes preparing a final report communicating the validation status and any issues or actions identified to the Calculator Owner, Bank’s Governance Committee’s, and Senior Managers.
• Giving independent assurance to the Bank's Senior Management over the output and use of Calculators and ensure they are built and operating to internal and external regulatory standards. Where calculators are less than "fit for purpose", raising appropriate actions to bring about their remediation.
• Developing and stressing the mathematical logic for new calculators and validating the mathematical accuracy and robustness for every calculator, including review of the quality of calculator documentation.
• Work closely with the calculator owners across the Bank to ensure that calculators adhere to the requirements of the Model Risk Management Policy Standard, including testing, validation, and documentation. This will involve, where appropriate, development of testing tools to replicate system calculations.
• Work with the MRO team to ensure the Calculator Inventory is maintained and regularly updated and that actions arising from validations are appropriately logged and followed through to conclusion.

To be successful you’ll need to bring…
• Some experience of analytics and communication in quantitative roles or disciplines.
• Excellent analytic skills and ability to extract conclusions from quantitative or qualitative evidence.
Working knowledge of Excel, Excel Visual Basic and other Office tools such as SAS typically used in calculators.
• Data mining skills, data interpretation and presentation skills
• Excellent report writing skills, ideally for a Model Risk Committee or equivalent.

We would like you to have (but not essential)…
• Knowledge of Banking products and Credit Management modelling in a banking or financial services context – equivalent to some good experience in a quantitative role in a Financial institution
• A good degree in a numerate discipline subject (e.g. maths, statistics, economics etc).
• Knowledge of coding languages such as SAS, R, SQL, Python etc

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 careers@virginmoney.com or HRUKRecruitment@cybg.com

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

Back to search results Apply now Refer a friend

Share this:

| More

Want to know more about Virgin Money?


Find out more about Virgin Money on our corporate website

We use cookies to keep our websites easy to use and relevant to our users’ requirements and to enable us to learn which advertisements bring users to our website. Select Accept below if you wish to proceed or How to change your cookies for instructions on how to manage your cookie settings. Find out more about our Cookie Policy.