Balance Sheet Risk - New Works, United Kingdom - Virgin Money

Virgin Money
Virgin Money
Verified Company
New Works, United Kingdom

3 weeks ago

Tom O´Connor

Posted by:

Tom O´Connor

beBee Recruiter
Description

Business Unit:
Risk Management, Financial Risk & Model Risk

Salary range:

  • £62,000
  • £77,500

Location:
Remote - work from anywhere within the UK

Contract Type:
Permanent - Full Time

Grab onto your Virgin Money adventure


We've made huge progress on our transformation into a digital bank - from launching new digital propositions for customers to giving our colleagues more flexibility and Virgin oomph.

Together, we're creating something unique in UK banking.

And we're acceleratingour digital drive to position ourselves as the number one digital bank, so it's a massively exciting time to be joining us.


Here's what it means for YOU:

  • 38.5 days annual leave for all colleagues (including bank holidays and pro rata if part-time)?
  • Five extra paid wellbeing days per year?
  • A 35hour working week
  • 20 weeks paid, gender neutral family leave (52 weeks in total) for expectant parents and those looking to adopt
  • Market leading Pension & Private Medical Insurance
  • Flexible benefits including Cycle to Work, Wellness & Health Assessments and Critical Illness
  • Ability to work anywhere in the UK? (where the role allows)

And you get these Red Hot Rewards from day one


Appropriate management of Balance Sheet and Prudential Risks is essential to keep the Bank and our Customers safe and to support the Bank's strategic objectives.

The role holder will support the Senior Manager, Balance Sheet Risk to oversee Balance SheetRisks (e.g. Market, Liquidity, Funding and Capital Risks) and models used to manage these risks, to drive alignment of strategies with overall Strategic Priorities.


This is great role for someone looking to make the next step in their career and gain exposure to stakeholders across the Bank.

The role holder will have experience in a treasury, market risk, audit or banking professional background.


This role in a nutshell

  • Support a robust governance framework for the management of all Balance Sheet Risks covered by the Group's Financial Risk Policy Statement.
  • Provide quantitative and research support to all areas of Balance Sheet Risks in a timely and accurate manner (incl. quantitative support to the analysis of market risk, interest rate risk and liquidity risk measures and assumptions);
  • Review and challenge assumptions underlying foreign exchange risk, interest rate risk, funds transfer pricing measurements and calibrations;
  • Review and challenge Pillar 2A and 2B assessments relating to balance sheet risks;
  • Understanding and anticipation of regulatory impacts (e.g. PRA Rulebook, Basel 3.1) on Balance Sheet Risks;
  • Validate ALM system, behavioural and pricing models for Treasury and undertake periodic reviews of ALM system, behavioural andpricing models
  • Support Internal Audit and other 2LOD teams to fulfil their responsibilities;
  • Preparation of ALCO and Risk Committee papers as required
  • Establish, build and maintain strong relationships with a wide range of stakeholders
  • Attend and contribute to project and business committees and forums and, where appropriate, deputise for the Senior Manager Balance Sheet Risk.
  • Supporting the development and recommendation of appropriate Risk Appetite Statement (RAS) metrics, limits and triggers for Balance sheet risks

There are a few essentials you need to bring

  • A detailed understanding of mathematical and financial concepts underpinning risk and pricing models relating to Balance Sheet Risks.
  • Previous experience in modelling complex treasury financial instruments
  • In depth competence across the range of Prudential Regulation, Balance Sheet Risks (e.g. Interest Rate Risk, Liquidity, Capital and Funding).
  • Thorough knowledge of the financial services market and the opportunities and threats
  • Strong conceptual knowledge of interest rate, market and liquidity risk models
  • A track record of presenting to, interacting with, and building trusted relationships with key internal stakeholders, business partners and relevant external agencies.
  • Strong communication skills with an ability to proactively interact with Treasury ALM front office desk staff and quantitative analysts through demonstrable written and verbal reasoning skills
  • Ability to manage the needs of multiple senior stakeholders and deal with competing priorities.
  • Ability to write technical model review documents and develop presentations to explain modelling concepts to nontechnical senior management.
  • Experience in building trusted relationships with key stakeholders, both internally and externally.

We'd love you to have

  • Likely to have experience within a Treasury or Risk discipline with a detailed understanding of theory and practice within financial services for the relevant functional specialism
  • Ability to specify, develop and critique hedging/pricing methodologies and algorithms for new and existing products
  • A good level of knowledge of the Bank's policies pertaining to Regulatory & Compliance and Conduct Risk.
We really need you to have the skills and experience listed in the essentials you need to bring 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


Inclusion at Virgin Money
**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 will need to you to confirm you have the Right to Work in the UK.


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.
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