Business Unit: Model Risk and Analytics
Salary range:£Individual per annum DOE + red-hot benefits
Location: UK Flexible
Contract type: Permanent
Be the voice we need. Live a life more Virgin.
Our Team
Model Risk and Analytics’ (MR&A) purpose is to identify and manage model risk, allowing improved customer outcomes, capital efficiency, accurate provisioning, supporting digitisation & automation and reducing bad debt. Within the Model Strategy Management team, they serve an important role in providing strategic direction on the management of models and their associated risks to VM’s businesses and is an essential element of the structure for the MR&A function.
What you’ll be doing
- Managing the schedule of complete model pipeline including model development, validation, data, and governance work carried out by the wider MR&A function.
- Enabling automation in the delivery of the end-to-end lifecycle of model management.
- Leading on Model Initiation to ensure alignment with the strategic areas of growth or reduction in the model landscape.
- Maintaining the overarching model risk and controls for the MR&A function including risk assessment and control effectiveness testing as needed.
- Peer reviewer on the regulatory self-assessment exercises to ensure quality and robustness of those assessments.
- Shaping new change initiatives run within MR&A into activities for the team for example the SS1/23 implementation, BCBS239, AI governance or IRB accreditation programs
- Leading the expansion of model risk management practices into novel areas like AI / GenAI models as well as other not so matured areas like Fraud and Financial Crime modelling. Development of ongoing training on models and model risk in the bank as well as development and strategic expansion of the Model Risk Management platform.
- Leading the MR&A team with a focus on purpose and customer-centricity.
- Building and maintaining productive working relationships with all business units.
- Writing and presenting papers to the Model Governance Committee, and Boards’ Risk Committee as required.
We need you to have
- Substantial experience within Mode Risk Management.
- Excellent knowledge of regulatory requirements for models; model risk frameworks; impact on strategy; detailed understanding of compliance requirements; ability to direct the medium/long term focus of a committee.
- Highly skilled in using novel modelling techniques like AI/GenAI and be able to shape the safe and responsible roll out in the bank
- Strong experience in workflow planning/project management, resourcing, and budgeting.
- A track record of developing and introducing new principles, practices, and tools.
- A strong track record of leading model risk teams within a retail bank environment.
It’s a bonus if you have but not essential
- Experience in data science or machine learning.
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 youLive 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
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.
