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Risk Calculator Control Analyst

United Kingdom

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City/Region United Kingdom Job ID 695975 Category Risk Contract type Secondment Applications Close 8 Jun 2023 GMT Daylight Time

Business Unit: Group Risk, Model Risk Oversight
Salary Range: circa £36,800 - £46,000 depending on experience.
Contract Type: Fixed term - 8 months

Your life more Virgin starts here

It’s an exciting time to be joining Risk as we are growing and transforming our team into one that is ready to meet 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, capabilities, 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 would be joining Model Risk Oversight at an exciting time. With increasing impact from digital approaches on our models, as well as making sure we manage the increasing expectations of our Board and the Regulators we are expanding! As part of the Model Risk Oversight (MRO) team you’ll help to secure the foundations of our business decisions.

Here's what you'll be doing:

  • Supporting the roll out of new requirements in approaches to Model Risk Management
  • Assisting teams interpret the new requirements and to give support and guidance
  • Supporting the creation / updates to Model Risk Policies, Frameworks and Standards
  • Supporting the discovery of new models (or associated objects) and ensuring all relevant information is captured across an inventory in a way that is easily accessible and can be used for insight / MI
  • Extracting and systematically recording key model information from documentation (e.g. model limitations, adjustments / overlays, restrictions on use, assumptions, purpose).

To be successful you’ll need to bring:

  • Experience of quantitative risk modelling, independent model validation, model risk management, audit, or any equivalent discipline
  • First Class analytical skills and ability to extract conclusions from quantitative or qualitative evidence
  • Red Hot knowledge of Microsoft Office (in particular Excel, Word and PowerPoint)
  • Excellent data presentation and report writing skills with the ability to tell the story
  • The ability to solve complex problems independently
  • Influencing skills; the ability to form arguments, both written and verbal in an effective straight up manner
  • Stakeholder management - ability to build successful and collaborative relationships is key.

We would like you to have (but not essential):

  • Some knowledge of typical banking products such as Mortgages, Credit Cards or Corporate SME
  •  Some knowledge of modelling in a banking or financial services context (e.g. Credit Risk– PD, EAD, LGD).
  • A degree in a numerate discipline subject (e.g. Maths, Statistics, Economics etc) or equivalent.
  • Some experience of working with and interpreting regulation (e.g. CRR, SS11/13, SS3/18, CP6/22).

We really need you to have the skills and experience listed in the ‘to be successful you’ll 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

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.

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