Business Unit: Model Risk & Analytics
Location: UK Hybrid – London HUB, once per week.
Contract type : Permanent
Our IFRS 9 and Stress Testing team sits at the core of Model Risk & Analytics. We report regular model performance updates, model monitoring RAGs, remediations etc. Monitoring of Credit risk models for Retail and Business portfolios, including IRB, IFRS 9, and stress testing environments. Ensure ongoing model maintenance and compliance with bank standards and regulatory requirements.
Managing large datasets for monitoring purposes, including data handling and identifying issues/root causes, and preparing remediation plans for both Retail and Non-Retail portfolios.
Focusing on continuous improvement by identifying and addressing performance issues in existing models, implementing oversight actions, and incorporating learnings to enhance model accuracy and compliance with evolving business and regulatory requirements.
Independently manage updates to model monitoring, including recalibrations and adjustments to analytical tools. Ensure effective communication of monitoring results and implementation assurance to management.
Producing high-quality monitoring reports and recommendation papers for governance committees. Conducting regular performance monitoring of models to ensure they remain robust and fit for purpose.
Working closely with credit risk modelling, finance, and business teams to gather insights and feedback for the ongoing monitoring and management of models. Support the operational aspects of the credit risk models team.
Ensuring ongoing compliance of models with internal and external policies and regulations through robust monitoring processes, appropriate challenge, oversight, and stakeholder engagement.
Demonstratable strong model monitoring including some model development and/or validation experience in IFRS 9, IRB and stress testing, ideally using SAS and R, and Credit Risk knowledge
Excellent knowledge of IFRS 9, IRB and stress testing model monitoring in IFRS 9 and IRB environment across a range of Retail / Business credit portfolios with a good understanding of model usage
Evident capability to build strong networks and relationships with internal and external parties
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.
We're all about helping you Live a Life More Virgin, so happy to talk flexible working with you.
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. 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. 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.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. Now the legal bit
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.