Business Unit: Group Credit Stress Testing, Finance
Salary Range: Up to circa £57,000 per annum DOE + red-hot benefits
Location: UK Remote with occasional need to travel to HUB for team meetings / collaborations (~4x per year)
Live for the weekday. Live a life more Virgin.
Our Team
The Group Credit Stress Testing team are responsible for understanding and forecasting how our credit portfolios would react under acute stress economic conditions and the impact this has on impairment and minimum capital requirements. These insights are used to understand the extent to which current capital levels are eroded under stress and safeguards the bank in supporting the setting of capital buffers.
The team also contributes to and plays a key role in the coordination of the Bank’s corporate planning process for impairment and RWA, whilst there are plans to enhance the usage of stress test outputs to help drive commercial performance and support the development of more granular ROTE measures.
What you’ll be doing
* Supporting management in the production of stress testing outputs, insights and associated documentation and proactively investigating/exploring trends or observations which may be of interest.
* Engaging with stakeholders, reviewing, and interpreting credit stress test forecasts of credit RWA, ELs and impairments.
* Independently recommend and implement changes and enhancements to the SAS based Credit Stress Testing Engines and associated analytical tools and Excel interfaces, with evidenced assurance of implementation and controls.
* Supporting integration of any future data infrastructure changes to ensure data used in Credit Stress Testing is fit for purpose.
* Taking the lead in continually driving improvements in existing processes to promote simplification and automation, reducing operational risk and enabling a better outcome for our customers.
* Ensuring that any changes to processes/code are clearly documented to a high standard enabling others to understand and execute tasks independently.
* Maintaining an effective version control process, adequate for a high volume of complex change.
* Ensuring continued credit stress testing data consistency with internal and external reporting.
We need you to have
* Superb analytical skills and ability to solve complex problems.
* Proficient in the use of statistical analysis software SAS (or equivalent)
* An inquisitive nature to spot trends or underlying observations and ability to articulate to various audiences while reviewing stress testing outputs including proactively assessing materiality of the observation made.
* The aptitude to implement with speed and efficiency as well as driving process improvements with previous experience of managing change to ensure smooth transition from old to new processes.
* Demonstrable knowledge of Credit Risk, particularly an understanding of Credit Risk Metrics such as PD/LGD/EAD.
* Expert user with MS Office suite.
We'd love you to have but not essential
* Experience in a Credit Stress Testing environment with proven exposure to processing stress and scenario outputs.
* Familiarity with macroeconomic time series models, knowledge of the macroeconomy and potential impact on credit portfolio performance.
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.