Head of IFRS9 & Stress Testing Analytics

Business Unit:  Risk
Salary range: From £100,000 depending on experience 
Location:  Remote - work from anywhere within the UK with occasional travel required to a hub.

Be a change maker with more cha-ching. Live a life more Virgin.

Our Team

We are a team who has a strong focus on ensuring the success of Virgin Money's drive to enhance modelling capability, management, and oversight. We play a vital role in working collaboratively with colleagues across all 3 lines of defence, providing insight and challenge to ensure we continually seek improvements and ensure we are delivering good customer outcomes.

As a member of the Model Risk and Analytics (MRA) leadership team you'll report into Chief Model Risk Officer, and you will be responsible for delivering the end-to-end lifecycle of IFRS9 & Stress Testing model development and monitoring.

What you'll be doing

• Lead and be accountable for the design, development and ongoing maintenance and monitoring of best practice model management.
• Deliver ongoing management and ensure model development of IFRS9 & Stress Testing Models is driven forward by providing thought leadership and team management.
• Help deliver the Groups Purpose by supporting the team to accurately and dynamically manage the Bank's risk position to ensure we can successfully deliver a great customer experience, also ensuring good customer outcomes.
• Collate, and collaborate with all colleagues across the 3LOD to present accurate, insightful portfolio MI to Board, Executive and Senior Management within the bank.
• Chair the Technical forums to ensure timely delivery and robust model life cycle management, and confidently work with Senior Leaders in MRA to improve modelling process efficiency and effectiveness.
• Work and align with business leaders' diagnosis, prioritisation and development of risk models, including new territories (e.g. Climate Risk models, Collection models, EWS).
• Be a subject matter expert maintaining a relationship with the PRA and external auditors, ensuring all monitoring frameworks and practice align with industry standards and regulatory requirements.
• Deliver the very best performance through your team by keeping our purpose, strategic aims, values and behaviours at the heart of all they do.

We need you to have

• Technically proficient in a wide variety of data science algorithms including AI/ML, NLP
• A broad understanding of the various types of models (IRB, IFRS9, ST, Digital Lending, Early Warning, Collections etc.)
• Track record of leading analytics engagements, and proven excellence in influencing, challenging, and guiding the business to make decisions.
• Experience in managing the end-to-end model build, deployment, and monitoring.

It's a bonus if you have but not essential

• A strategic view of the banking industry with an understanding of how its evolution would affect the model set of assets.
• A strong understanding of advanced development approaches deployed in risk modelling.
• Advanced degree educated in a data science heavy discipline.

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.
• 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 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.  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 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

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.