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    Model Risk Governance Specialist - Birmingham, United Kingdom - Virgin Money

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    Full time
    Description

    Business Unit: Group Risk, Model Risk ManagementSalary range: £38,400 - £48,000 DOE + Red-Hot BenefitsLocation: Remote - work from anywhere within the UKContract type: 12-month Fixed Term

    Be the voice we need. Live a life more Virgin.

    Our Team

    It's an exciting time to be joining Model Risk Governance, a central pillar in the Model Risk & Analytics (MR&A) team. Ensuring we have robust Model Risk Management (MRM) framework is essential for us to manage risk and comply with complex regulations and increasing regulatory expectations. Also, the advent of new technologies like AI and emerging sources of financial risk (e.g. climate change) drive innovation in the modelling space that have to be managed appropriately.

    As part of the team, you'll help to embed new MRM practices and a brand-new technology solution (MAx) that will transform the way we manage model risk, whilst delivering insights and analytics across the expanding universe of models and objects we look after.

    What you'll be doing

    • Supporting the management and embedding of the new Model Risk Management Solution (MAx) across the bank, housing the model inventory and actions register
    • Leading the secretariat function for Credit Model Technical Forum, including collation of materials, drafting minutes and action tracking
    • Production of reporting / MI for senior committees (e.g. Model Governance Committee) and Board on Model Risk Management, including Model Risk - Risk Appetite (RAS)
    • Analysing trends and conducting analysis to identify systemic model risks across the estate
    • Supporting the development and maintenance of the Risks & Controls for the MR&A team
    • Supporting Group IRB regulatory self-assessment (e.g. Capital Requirement Regulation)
    • Supporting the review of Model Risk Management Policy and underlying Standards / Frameworks
    • Encouraging the continued development of a best practice modelling culture within the bank.

    We need you to have

    • Ability to produce MI / reporting and other analysis, drawing out key insights and trends to allow identification and measurement of Model Risk.
    • Highly developed analytical and quantitative skills, demonstrable through a numerate degree or equivalent technical experience.
    • Excellent written and oral communication skills and the ability to articulate complex technical concepts to non-technical specialists.
    • Ability to work to a high degree of quality, accuracy and attention to detail while ensuring you always get the basics right.
    • Red Hot knowledge of Microsoft Office (in particular Excel, Word and PowerPoint).

    It's a bonus if you have but not essential:

    • Technical knowledge of Model Risk Management and Prudential regulation
    • Some knowledge of modelling in a banking or financial services context (e.g. Credit Risk Modelling – PD, EAD, LGD)
    • Knowledge of Banking products (Mortgages, Credit Cards, Loans, Current Accounts)
    • Knowledge of coding and analysis / reporting tools (e.g. SAS, R, Power BI).

    Red Hot Rewards

    • Generous holidays 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
    • Ability to work anywhere in the UK​ (where the role allows)

    And there's no waiting around, you'll enjoy these benefits from day one.

    Feeling insatiably curious about this role? Apply as soon as you can. 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 you Live a Life More Virgin, so happy to talk flexible working with you.

    Say hello to Virgin MoneyWe'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. We're putting the full power of our experience behind disruptive ideas that reinvent the role a bank plays in people's lives. We strive to create positive experiences for our millions of customers and our purpose, 'Making You Happier About Money', underpins everything we do. We believe in doing banking differently, innovating and working together to make a real difference. Join us and Live a Life More Virgin that empowers you with choice and flexibility in how you work.

    Be yourself at Virgin MoneyOur 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 (url removed)

    Now the legal bitLiving 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.



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