Skip to content

Kick off your job search

Search our opportunities to find your fit

Senior Analyst Model Risk Oversight

Apply now Job no: 059089
Work type: Permanent Full Time, Permanent Part Time
Location: England - Newcastle, England - Leeds, Scotland - Glasgow City Centre, UK
Categories: Model Risk Oversight - Group Risk

Business Unit: Group Risk
Salary:£29,600 - £38,000 depending on experience 
Location: UK based, home working available
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!

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 Model Risk Oversight team you’ll help to secure the foundations of our business decisions by supporting quantitative and qualitative validation across our model suite.

The role in a nutshell…
• Supporting the management and measurement of Model Risk
• Administration of tools such as the Model Inventory and Actions Register, including any automated Model Risk Management solution
• Production of analysis, extracts and documentation to support independent validation activities, planning or issue management (e.g. monthly action and model summaries)
• Production of reporting / MI for senior committees (e.g. Model Governance Committee) and Board on Model Risk Management, including Model Risk Appetite Statement 
• Working with the secretariat function for Credit Model Technical Forum, including collation of materials, drafting minutes and action tracking
• Supporting the review of Validation and Model Risk Management Frameworks, advocating compliance and best practice
• Encouraging the continued development of a best practice modelling culture within the bank

To be successful you’ll need to bring…
• A passion for numbers and statistics
• First class analytical skills and ability to extract conclusions from quantitative or qualitative evidence
• Excellent data presentation and report writing skills with the ability to tell the story
• Red Hot knowledge of Microsoft Office (in particular Excel, Word and PowerPoint)
• Influencing skills; the ability to form arguments, both written and verbal in an effective straight up manner

We would like you to have (but not essential) …
• Some knowledge of modelling in a banking or financial services context (e.g. Credit Risk Modelling – PD, EAD, LGD)
• Knowledge of Banking products (Mortgages, Credit Cards, Loans, Current Accounts)
• Some knowledge of programming (e.g. SAS, VBA, R)

The list above is not comprehensive, and we are open to applications from strong candidates who are interested and capable in a role in Model Risk Oversight.

RED HOT Rewards
• 38.5 days annual leave for all colleagues (including bank holidays and pro rata if part-time)
• Five extra paid well-being days per year
• 20 weeks paid, gender neutral family leave (52 weeks in total) for expectant parents and those looking to adopt
• A digital-first colleague experience
• Ability to work anywhere in the UK

And the great news is, all these benefits are available to colleagues from day one!

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

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 Standard Time
Applications close: GMT Standard 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.