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Forecasting and Pricing Oversight Manager - Risk

Newcastle Upon Tyne, Tyne And Wear, United Kingdom, £ £ - Annual Annual, Permanent


Business Unit: Group Risk, Personal Credit
Salary: £52,704 - circa £70,000
Location: UK based
Contract Type: Permanent

In our quest to make things better, we never stop looking at how every bit of banking works. We sweat the small stuff, because we know it makes a big difference for our customers. But at the heart of this are our people - who we couldn't do without. Our bold and brilliant colleagues who bring their A game every single day. The question is - are you ready to bring yours?

It's an exciting time to be joining Risk as we're growing, and transforming our team into one that is ready to meet the 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, capability 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!

In this exciting new role, you'll be responsible for the 2nd Line of Defence for unsecured credit lending. You'll be accountable with the Head of Personal Credit for the credit performance of the unsecured portfolios (Credit Cards, Personal Loans, Overdrafts). You'll provide key input into the setting of the bank's credit risk appetite and policy whilst supporting the commercial teams through oversight of pricing and forecasting to deliver growth and impairment plans within the agreed risk appetite and regulations.

The core role of our Leaders is to deliver the very best performance through their people by keeping our Purpose, Strategic Aims and Values & Behaviours at the heart of all they do whilst developing their team with stretching goals to build capability and ambition.

Day to day you'll:
Use your experience and expert judgement along with bank supplied economics in the oversight of appropriate personal credit pricing and forecasting models, ensuring credit expectations and guardrails are set appropriately to deliver target returns. Through oversight and independent investigation provide assurance, support and recommendations into the design, implementation and monitoring of pricing and forecasting models allowing safe, profitable unsecured lending growth. Including:

• Unsecured lending Return on equity models
• Credit Guardrail calculations
• Arrears and capacity forecasting models and outputs
• Pricing changes and impacts of negative and positive selection
• Ensuring consideration of impacts on capital consumption and impairment forecasts

You'll be monitoring the health of the portfolio and performance of credit strategies, regularly producing high quality reports to appropriate risk governance including Credit risk forums, Unsecured commercial meetings and Credit Risk Committees. You'll escalate relevant points to the Head of Personal Credit and the Unsecured commercial team.

Collaboration will be key as you work closely with the wider credit team to ensure models are utilised correctly, provision forecasts are reflective of expected portfolio performance and systems, data and reporting are implemented accurately.

There are a few essentials you need to bring…
• Good knowledge of Unsecured lending products and the wider market
• Experience in the development and / or oversight of return on equity, pricing or forecasting models.
• Ability to analyse and interpret data using SAS, showing a logical approach to problem solving
• Be experienced in interpreting data and producing analytics with a tenacity to look beyond headline information to identify inconsistent trends.
• Experience of building trusted relationships with a wide range of stakeholders at all levels
• Effective communication skills, both verbal and written, with experience of managing challenge and conflict
• High motivation and to demonstrate a professional "can do" attitude
• Capacity to handle high workflows and prioritise appropriately, ensuring tasks are completed within required timeframes

We'd love you to have (but not essential)...
• Experience in contributing to strategic direction and priorities
• An understanding of proposition and product development
• Credit Strategy or Model development and / or oversight experience

We really need you to have the skills and experience listed in the essentials 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!

RED HOT Rewards
• A generous holiday package and the option to buy more!
• Private Medical Insurance - with the option to extend to family members.
• Pension! A market leading pension - we'll top up your contributions too.
• Flexible benefits - customise your rewards to work for 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 friendly team at or

Point to note…
At the minute, depending on which team you are joining, lots of us are working from home. This is something that may change over time, and if so, we will come together in one of our hub locations, giving you the chance to meet your new colleagues in person. 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!

Now the legal bit…
If we offer you a job and you accept, there are some checks we need to complete before you can start with us. This will include a credit and criminal record check, as well as providing 3 years' worth of satisfactory references.

Job Details

Not Specified
Newcastle Upon Tyne, Tyne And Wear, United Kingdom
£ £ - Annual Annual