Business Unit:  Group Risk, Independent Model Validation
Salary range: up to circa £55,000 per annum DOE + red-hot benefits
Location:  UK Flexible
Contract type: Permanent

Our Team

We have an exciting opportunity in our Independent Model Validation team. The validation team holds a key role in the validation, challenge, and oversight of VMUK’s overall model landscape, including credit risk, financial and operational models. You’ll have the opportunity to work across a broad range of models spanning retail and business asset classes and drive insight and improvements in model outputs and controls.

What you’ll be doing

• Supporting the validation of new and revised mathematical models to ensure models across the business are fit for purpose
• Providing assurance on compliance with the regulatory requirements we work within
• Assisting with credit risk IFRS 9/Stress Testing models and the opportunity to be involved with IRB, Pricing, Op Risk, Climate Risk or other models
• Engaging with model owners, gathering materials for analysis, challenging model performance or development and documenting findings
• Utilising your technical skills in data manipulation and extraction, assessing and comparing data from a variety of sources
• Generating model validation reports and ensure that validation actions are followed through to a resolution
• 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.

We need you to have

• Significant experience in developing or validating statistical models
• Strong analytical skills with a numerate degree or equivalent technical experience
• Experience in the use of statistical software to analyse and interpret data
• Superb data presentation and report writing skills, ideally for a Model Risk Committee or equivalent
• A high degree of accuracy, ensuring you always get the basics right
• Demonstrable sound decision making and critical thinking. 

It’s a bonus if you have but not essential

• Experience using SAS and/or Python
• Good knowledge of Credit Risk Modelling including PD, EAD and LGD models
• Familiarity of IFRS 9 or Stress Testing models in the financial industry.

Red Hot Rewards

• Generous holidays - 38.5 days annual leave (including bank holidays and prorated if part-time)​ plus the option to buy more.
• Up to 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. 
• Market-leading pension.
• Free private medical cover, income protection and life assurance.
• Flexible benefits include Cycle to Work, wellness and health assessments, and critical illness. 

And there's no waiting around, you'll enjoy these benefits from day one.

Feeling insatiably curious about this role? If we’re lucky to receive a lot of interest, we may close the advert early and would hate you to miss out.

We're all about helping you Live a Life More Virgin, so happy to talk flexible working with you.

Say hello to Virgin Money
We’re making great strides towards achieving our ambition of becoming the UK’s best digital bank.  As a full-service digital bank with a heritage stretching back over 180 years, we’re a workforce to be reckoned with, and we're putting the full power of our experience behind disruptive ideas that reinvent the role a bank plays in people's lives. We're customer-obsessed and work tirelessly to deliver on our purpose, ‘Making You Happier About Money.’ This means we're able to do banking differently, and by innovating and working together we can make a real difference by creating memorable moments and red-hot experiences for our millions of customers. Join us and Live a Life More Virgin that empowers you with choice and flexibility in how you work. 

Be yourself at Virgin Money
Our purpose is to make people happier about money, this means seeing and feeling the world as our customers do by creating a workforce that reflects the rich diversity of our customers and communities.  We’re committed to creating an inclusive culture where colleagues feel safe and inspired to contribute, speak up and be heard.   

As a Disability Confident Leader, we're committed to removing any obstacles to inclusion.  If you need any reasonable adjustments or support making your application, contact our Talent Acquisition team careers@virginmoney.com

It’s important to note that there may be occasions where it’s not possible to interview all candidates declaring a disability who meet the essential criteria for the job. In certain recruitment situations such as receiving a high-volume of applications, we may need to limit the overall numbers of interviews offered to both disabled and non-disabled applicants. 

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'll need you to confirm you have the right to work in the UK.

If you're successful in securing a role with us, there are some checks you need to complete before starting. These include credit and criminal record checks and three years' worth of satisfactory references. If the role is part of the Senior Manager Regime and Certification Regime, it requires enhanced pre-employment checks – we'll ask for six years of regulatory references, and once in the role, you'll be subject to periodic employment checks.