Risk Model Validation Manager

Business Unit:  Group Risk, Model Risk Management
Salary range: circa £70,000 DOE + red-hot benefits
Location:  Remote - work from anywhere within the UK
Contract type:  Permanent

Live for the weekday. Live a life more Virgin.

Our Team

We've a key role to play in the bank - providing the oversight of risk and financial models.  Ensuring we've robust Model Risk Management frameworks is essential to ensure we're compliant with complex regulations, increasing regulatory expectations, and we're now part of the Bank of England's Solvency Stress Test, the use and controls of models is even more important.

We're a talented team of Model Risk experts who provide and evidence oversight in the form of independent validations and reviews.  We collaborate with stakeholders across the bank, keeping them safe by ensuring robust model development activities. We're always evolving as new technologies like AI and emerging sources of financial risk such as climate change drive innovation in the modelling space and must be managed appropriately.

What you'll be doing

• Leading the oversight and validation of a range of models, ensuring that risk and outcomes are aligned both to the Bank's strategic objectives/risk appetite and regulatory requirement.
• Inspiring and leading a team of model validators specialising in an array of model types and performing highly analytical validations.
• Creating a high performing team - supporting development and wellbeing.
• As an SME you'll provide confidence to senior management in knowing the risks involved in using models
• Shaping the future direction of how validations are undertaken in novel areas.
• Providing statistical expertise to inform the discussion between Model Development and Model Risk Management in the model build and model review process.
• Utilising your technical skills in data manipulation and extraction.
• Generating model validation reports and ensure that validation actions are followed through to a resolution.
• Presenting model validation findings to technical forums and governance committees with the ability to keep the complex simple and adapt for your audience.
• Applying the adoption of best practice approaches to model validation, including influencing frameworks to continually enhance the validation process.
• Providing expert-level input and positive challenge into model and strategy developments and changes throughout the model lifecycle.

We need you to have

• Expert knowledge across a range of modelling methodologies, regulatory requirements, industry best practice.
• Extensive experience with model development and/or model validation in some of the following areas: IRB, IFRS 9, Stress Testing, Climate Risk, Fraud, Financial Crime.
• Superb analytical skills with a numerate degree or equivalent technical experience.
• Advanced knowledge of at least one programming language, e.g., SAS/Python/R/SQL.
• Excellent written and oral communication skills. Ability to articulate complex technical concepts to non-technical specialists.
• Leadership skills and people management skills.

It's a bonus if you have but not essential

• Knowledge of machine learning and artificial intelligence modelling techniques.
• Technical knowledge of Model Risk Management and Capital Requirement Regulation.
• Experience of leading a team in a fast-paced environment including effective resource management, positive behaviours, and performance coaching/development to build capabilities.

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.