Model Validation Data Scientist

Business Unit: Group Risk, Model Risk Management
Salary range: GBP36,800 - GBP48,000 per annum DOE + red-hot benefits
Location: Remote - work from anywhere within the UK, with occasional travel to a HUB
Contract type: Permanent

Be a change maker with more cha-ching

Our Team

Ensuring we have robust Model Risk Management frameworks in place is essential for us to comply with complex regulations and increasing regulatory expectations. As a firm that is now part of the Bank of England's Solvency Stress Test, the use and controls around models is more important than ever. This is where our team comes in! We provide and evidence oversight in the form of independent validations, reviews, and challenge model development activities. We ensure we adhere to frameworks and policies by supporting identification and remediation of gaps in compliance.

As our team is expanding, we are looking to welcome a Validation Specialist (Data Scientist) to our Independent Model Validation team. As part of the team, you'll help to secure the foundations of our business decisions by providing quantitative and qualitative validations across our model landscape.

What you'll be doing

• Supporting validations of new and revised statistical models to ensure models across the business are fit for purpose.
• Ensuring we are compliant with our regulatory requirements.
• Utilising your technical skills in data manipulation and extraction, analyse model performance and model risk.
• Engaging with model owners, gathering materials for analysis, challenging model performance/development and documenting findings.
• Generating Model Validation reports and ensure that validation actions are followed through to a resolution.
• Providing statistical expertise to support the discussion between Model Development and Independent Model Validation as part of the model build and model review process.
• Presenting Model Validation findings to technical forums and governance committees.

We need you to have

• Experience with model development and/or Model Validation, ideally related to at least one of the following areas: IRB, IFRS 9, Stress Testing, Climate Risk, Fraud, Financial Crime, Econometrics.
• Highly analytical skills with a numerate degree or equivalent technical experience.
• Advanced knowledge of at least one programming language, e.g., SAS/Python/R/SQL.
• Capability to articulate complex technical concepts to non-technical specialists.
• Ability to work to a high degree of accuracy, ensuring you always get the basics right.

It's a bonus if you have but not essential

• Knowledge of machine learning and artificial intelligence modelling techniques.
• Specialist knowledge of modelling techniques including industry-wide approaches.
• Technical knowledge of Model Risk Management and Capital Requirement Regulation.

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.