Job Details

Group Credit Oversight Specialist - Risk

Newcastle Upon Tyne, Tyne And Wear, United Kingdom, Permanent

Posted: 2 days ago


Business Unit: Group Risk, Group Credit Oversight & IRB Modelling
Salary: £38,882 - £55,000 depending on experience
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 joining the team responsible for the 2nd Line of Defence for credit risk for some of the Group's key credit process. As an Oversight Specialist, you'll be accountable with the Senior Group Credit Oversight Manager for oversighting the execution and appropriateness of the outcomes from key Group Credit processes. No day will be the same as you support the Finance and Commercial teams through oversight of these disciplines ensuring appropriate outcomes which support the safe delivery of growth plans, within risk appetite and regulations.

Specifically, you'll provide oversight, challenge and opinion on the Credit Stress Testing and IFRS9 processes (excluding models), controls, overlays and overall outcomes. You'll also support second line oversight of the Credit Stress Testing and IFRS9 provisioning which is fundamental to the success of the bank.

Here's what you'll be doing:
Designing and executing appropriate oversight activity to ensure the effectiveness of the processes (excluding the Models components), relevance of the inputs, calculations, adjustments and results. This is to ensure robust informed challenge and effective participation in, or support for, the governance process enabling first class delivery of the 2nd line oversight. You'll have a particular focus on these credit processes.

• IFRS9 provisioning.
• Credit Stress Testing (ICAAP, ACS SST, BAU)

Day to day you'll collaborate with the Finance and Commercial teams to maintain and develop the regulatory and accounting standard compliance and currency of these key disciplines and capabilities whilst keeping our Purpose at the heart of all activity. This includes supporting and inputting to key governance processes such as Stress Test Expert Panels, and further forums as part of the effective governance of these disciplines.

You'll working closely with the wider credit team to ensure inputs and outputs are utilised correctly, are reflective of expected portfolio performance, inform and are shaped by Risk Appetite where appropriate and systems, data and reporting are implemented accurately.

There are a few essentials you need to bring:
• Expert knowledge of Credit Provisioning and Credit Stress Testing and how these apply to the VMUK portfolio.
• Good knowledge of regulatory and accounting policy standards and expectations.
• Experience in the development and execution of 2nd line Credit Oversight and Assurance plans.
• Ability to analyse and interpret data, showing a logical approach to problem solving and a tenacity to look beyond headline information to identify inconsistent trends.
• Experience of building trusted relationships with a range of stakeholders at all levels, including feeding opinions and challenges into the operational and governance process in a constructive and influential ensuring the 2nd line opinion adds value and is effective.
• Effective communication skills, both verbal and written, with experience of managing challenge.
• Capacity to handle high workflows and prioritise appropriately, ensuring tasks are completed within required timeframes.
• High motivation and to demonstrate a professional "can do" attitude.

It's a bonus if you have:
• Experience in effectively operating in a small team of technical individuals.

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

Newcastle Upon Tyne, Tyne And Wear, United Kingdom