Model Monitoring Risk Specialist

Business Unit: Group Risk, Risk Analytics
Salary Range: circa £42,000 - £52,500 depending on experience
Contract Type: Permanent

Here at Virgin Money, we take a huge amount of pride in what we do, working seamlessly across all areas to achieve the same goals for the business. This is an exciting time as we stand up our Risk Analytics Centre of Excellence (RACE). Our ambition is to drive forward enhanced modelling capability by providing:

• Consistency: Modelling choices conducted consistently across models removing incoherence between outputs.
• Best practice sharing:  Advanced modelling approaches (e.g. ML, monte carlo simulation, Open Banking data) rapidly shared.
• Delivery speed:  Ability to load balance across a large, centralised team of similar skill set, building on pre-existing data sets and codes and rapidly engage with system implementation.
• Efficiency: Consolidated model landscape with re-use of engineered and cleaned data and validated code snippets.

The Model Monitoring and Management Specialist is responsible for providing quantitative and qualitative analysis across our model suite, providing solutions supporting the acquisition of new business, risk-based account management and managing the banks’ capital across its Retail and Business portfolios.

Here’s what it means for YOU:

• 38.5 days annual leave for all colleagues (including bank holidays and pro rata if part-time)​
• Up to five extra paid well-being days per year​
• A 35-hour working week
• 20 weeks paid, gender neutral family leave (52 weeks in total) for expectant parents and those looking to adopt
• Market leading Pension & Private Medical Insurance
• Flexible benefits including Cycle to Work, Wellness & Health Assessments and Critical Illness
• Ability to work anywhere in the UK​ (where the role allows)

And you get these Red-Hot Rewards from day one!

Day to day you’ll

• Lead the enhancement and maintenance of Portfolio & Credit Model reporting tools
• Investigation and resolution of credit, data, and MI related issues
• Provide support and subject matter expertise to other business units and stakeholders
• Identify opportunities to improve processes, coding efficiency and approaches
• Provide ongoing model management through model calibrations and model performance monitoring.
• Provide first class model insight and recommendation papers to governance committees explaining complex outcomes in a way that all stakeholders can understand – keeping it straightforward!
• Support the coaching and development of risk analysts, prioritising tasks and developing technical capabilities
• Deputise for your line Manager as a subject matter expert in cross function meetings and committees

There are a few essentials you need to bring… 

• Qualified to degree level in a relevant field or equivalent experience
• Experienced in building complex credit MI solutions
• SAS / SQL coding experience and/or equivalent coding languages
• Experience in Microsoft Office (Excel, Word & PowerPoint)
• Experience in Banking and Risk Management, ideally in an IRB environment
• Experience in an environment that drives strong commercial understanding and utilises the interpretation of complex data collation and analysis to identify effective data and systems capabilities
• Strong analytical skills and the ability to solve complex problems independently
• Excellent communication, listening and writing skills. An ability to present analysis, both written and verbally, in a clear, concise and confident manner
• Knowledge of the Basel Capital Requirements Regulation and/or IFRS9
• Influencing skills; the ability to form arguments and to deliver them effectively.

The icing on the cake….

• Degree educated in a data science heavy discipline
• Experience of using Tableau or Power BI

We really need you to have the skills and experience listed in the ‘There are a few essentials you 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!

Feeling insatiably curious about this role? Apply as soon as you can. 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.

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 careers@virginmoney.com.

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 to you to confirm you have the Right to Work in the UK.

If you’re successful securing a role with us, there are some checks you need to complete before starting. This includes a credit and criminal record check, as well 3 years' worth of satisfactory references.   If the role is part of the Senior Manager and Certification Regime, it requires enhanced pre-employment checks - we’ll ask for 6 years' of regulatory references and once in role, you’ll be subject to periodic employment checks.