Job Details

Senior Analyst, Model Risk Oversight - Virgin Money

Not Specified, United Kingdom, £35,000 - £43,000 , Permanent

Posted: 18days ago


Business Unit: Risk, COO, Model Risk Oversight
Salary: £35,000 - circa £43,000
Location: Flexible

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?

We need our Risk team to make sure that we are a responsible and safe pair of hands for our customers' and investors' money. We are looking for someone who shares our passion to build a better kind of bank and has the determination to help us be successful in this mission.

As part of the Model Risk Oversight team you'll help to secure the foundations of our business decisions by providing quantitative and qualitative validation across our model suite.

Here's what you'll be doing:
• Helping us to provide independent assurance to the CRO and wider Exec team to ensure models across the business are fit for purpose and developed in line with our policies and regulatory requirements.
• Engaging with model owners, gathering materials for analysis, challenging model performance/development and documenting your findings.
• Undertaking independent model validation to support the delivery of our Annual Model Validation Programme.
• Applying a risk-based approach to the review and validation of models, balancing the risk, regulatory requirements and industry best practice.
• Generating model validation reports and ensuring that validation action points are followed through to a resolution.
• Providing assurance on compliance with the regulatory requirements we work within.
• Supporting the continued development of a best practice modelling culture within the bank.
• Offering insight and recommendations that contribute to achieving best in class risk models.

To be successful you'll need to bring…
• Strong analytical skills with a good degree in a numerate discipline subject (e.g. maths, statistics, economics etc).
• Some experience analysing data using Excel and ideally SAS.
• Some experience interpreting and presenting data.
• The ability to solve complex problems independently.
• The ability to influencing and form clear arguments and to deliver them effectively verbally and in written form in order to get the best outcome.
• The ability to build collaborative and positive stakeholder relationships.
• Ability to write a clear and concise report - keeping it straightforward.

The icing on the cake would be (so not essential)…
• Some understanding of IRB, IFRS 9 or Stress Testing models.
• Some working knowledge of typical products of a Retail bank such as Mortgages or Credit Cards.
• Some knowledge of credit risk models such as PD, EAD or LGD.

The list above is not comprehensive and we are open to applications from strong candidates who are interested and capable in a Senior Analyst role in validation.

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

Job Details

Full Time
Not Specified, United Kingdom
£35,000 - £43,000