Treasury Graduate

Business Unit: Finance
Starting Salary: £30,000 per annum, with reviews and increases throughout the programme
Location: Hybrid but with access to our Treasury hubs in Newcastle, Glasgow or London
Contract Type: Permanent

Treasury Graduate programme starting in September 2024

This is an exciting time to join Virgin Money.  We’ve made great progress on our transformation into a digital bank. From launching new digital propositions for customers to embedding our new colleague proposition - A Life More Virgin, together we’re creating something unique in UK banking. As we grow with these digital innovations, we will need a world leading Treasury function to ensure that our balance sheet remains safe and sound for the risks we manage.  Coupling together these digital innovations, our unique colleague propositions, and world leading Treasury function…. this really is a great time to join our team!

But what do YOU get when you join Virgin Money… Red Hot Rewards of course!
* A 35 hour working week
* 38.5 days annual leave (including bank holidays)​
* Five extra paid well-being days a year​
* Private Medical Insurance
* 20 weeks paid family leave (52 weeks in total) for expectant parents and those looking to adopt
* Option to receive up to a 13% pension contribution​
* A digital-first colleague experience ​

All these benefits are available to colleagues from their first day.

Have we got your attention? Let’s tell you a little more about our Treasury Graduate Programme.

Our Treasury Graduate programme allows you to gain hands on experience and knowledge across Treasury and our wider Finance and Risk functions. This year we have space for 2 people to join our team.  We’ll invest in you and your training, so you’ll have the technical and professional skills you need to help you achieve your long-term career aspirations. We know that our amazing colleagues are key to our success and we’re not going to lie, we do sweat the small stuff, because we know it makes a BIG difference for our customers and our colleagues and we’d love for you to join us!

The Treasury function sits at the heart of Virgin Money by ensuring that our balance sheet remains safe and sound for customers, colleagues, counterparties, and other stakeholders.    Treasury is Virgin Money’s window on and access point to the global capital markets.    Treasury, on behalf of Virgin Money, manages a broad range of financial and market risks that arise out of our day-to-day operations.   So, if you are interested in developing a career in capital markets and using that insight to help our colleagues better serve our customers and counterparties then Treasury might well be a good fit for you.

Banks need to manage financial risks such as interest rate or foreign exchange movements to help protect their customers and themselves. Treasury teams need to understand and measure those risks both against our own risk appetite and rules set by regulators. We help the bank raise funds as capital or by issuing secured or unsecured debt.  We also manage a portfolio of high-quality investments to help ensure we carry enough liquidity insurance to allow customers to withdraw deposits as and when they need to.  We work closely with a range of market counterparties including investment banks, rating agencies, law firms and institutional investors from around the globe.  We work closely with the tri partite regulators in the UK because Banks are heavily regulated, and those rules are constantly evolving.  We also work closely with all our product teams to ensure that all products are appropriately structured to manage all the different risks we are exposed to.

Our unique Treasury Graduate programme will give you the opportunity to complete 3 x 9-month rotations in the areas listed below, but if you find your happy place, during your rotation, don’t worry you can stay there and focus on building your career in your chosen field of expertise.

Opportunities on the programme span across various areas of Treasury including Treasury Markets, Treasury Operations, Asset and Liability Management, Debt Capital Markets and Recovery and Resolution Planning.  Don’t worry there is more to it than that: you will get involved in financial planning and forecasting, stress testing, risk appetite setting and systems development, integration and simplification.  Throughout this journey you will understand how a bank functions across its different areas of activity but also understand its role across the wider financial markets landscape.

As you’d expect, working on a placement rotation, will mean that there will be lots of different things to get involved in.  Of course, you’ll have loads of training and support, but across all rotation you’ll be

• Part of an Agile team to help us drive our Treasury and Finance agenda
• Working closely with experienced professionals on highly varied projects and interesting change initiatives that drive our strategic direction
• Monitoring market, industry and peer developments and understanding the implications / ‘so what’? for Virgin Money and helping to communicate that analysis and rationale to stakeholders
• Interpreting requirements and contributing ideas to create efficient, innovative, and highly functional solutions
• Understanding our Business and working with your team and stakeholders to realise our goals  
• Assisting on design and development of Treasury systems, new product features, new funding ideas and ways of working
• Helping to build, design, test and deliver high quality system solutions in line with guidance and best practices
• Owning and managing your day-to-day activities
• Learning new technologies and augmenting your skills to keep abreast of new developments
• Contributing to the overall evolution of best practice within Virgin Money
• Writing and reviewing clear and concise technical documentation to support your work.

We need you to have

• At least a 2:2 degree or above ideally in an Economics, Finance or Maths related subject from any university; PhD and Masters students are also welcome
• Experience of using spreadsheets, databases and other mathematical software to produce insight and analysis in understanding of behavioural and other patterns
• A growth mind-set and genuine interest in supporting the Bank’s cultural journey
• A rigorous, methodical approach with excellent attention to detail
• Tenacity, demonstrating an ability to continually learn from your successes and failures
• A great attitude and sense of ambition – be motivated with an appetite for success
• Ability to build productive working relationships and be a credible team player
• Most importantly we need you to be passionate about being involved at the heart of our business, with one eye on what we’re delivering today and the other on the future planning for the bank.

It's a bonus if you have but not essential

• A passion and understanding of capital markets, the role of prudential regulators or the role played by central banks perhaps gained either through your degree course, your own studies or even work experience.
• An inquisitive mind set that is happy to explore items in considerable detail but to be able to explain the implications of these issues at a higher level to a non-technical audience.
• A passion for problem solving and be excited about immersing yourself in a fast moving and challenging environment

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.

Points to note…

We will advertise the roles through to 31^st January 2024.

Shortlisting will take place by 16^th February 2024 & Interview dates will be from 04^th March 2024.

Successful candidates will be invited to an assessment centre. Offers of employment are subject to the normal vetting checks.

We are working towards a start date of September 2024. 

Please ensure you answer all the questions and provide all the required information as part of the application process.  The more you tell us about yourself, your background and aspirations the better we are able to assess your application.

This role will be a mixture of office based as well as working from home, and we’ll work with you to find a rhythm and routine that works best. 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!