Address
Form of workBusiness Unit: Risk, Unsecured Portfolios
Salary range: £44,000 - £55,000 per annum DOE + red-hot benefits
Location: Remote - work from anywhere within the UK with occasional travel to a hub
Live for the weekday. Live a life more Virgin.
Our Team
The Unsecured Credit Risk - Financial Insight team produce loss and impairment models which form part of the bank’s pricing models and strategic plan. We ensure all models are accurately monitored, and track and provide insight on monthly movements in both arrears and impairments. ?We ensure quality control over analysis provided and execution of controls to ensure integrity of analysis completed.
What you’ll be doing
• Supporting and designing of arrears and provision models for Credit Cards/Loans and PCAs for inclusion in VM strategic plans.
• Providing loss and IFRS9 expectations for pricing models for Credit Cards and Personal Loans.
• Investigating monthly impairment movements (both Loss & IFRS9) and providing a detailed explanation for trends and variance from plan, to aid understanding of P&L reporting.
• Ensuring that all model metrics are accurately monitored and tracked within the team, to ensure any emerging trends are investigated and understood.
• Building and maintaining relationships with the strategy, modelling and risk teams to ensure metrics within the models are reflective of current strategies, models and future changes.
• Working closely with the Risk Strategy and Commercial Strategy teams to ensure that they are proactively informed of current and forecasted trends and strategies are appropriately reflected in forecasts.
• Supporting the continued development of a best practice modelling culture within the bank, producing clear well written model documentation.
• Supporting the Financial Insight Manager in enhancing the operational effectiveness of the team.
We need you to have
• Strong, independent analytical capabilities with proficiency in SAS and MS Office suite.
• Experience producing Loss Forecasting and/or pricing models.
• Previously worked with retail AIRB & IFRS9 modelling.
• Extensive experience in Financial Services or banking with practical experience of performance reporting/analytics.
• A proven ability to build strong networks and relationships, encouraging collaboration.
• Excellent communication skills with the ability to condense and simplify complex information to brief and influence senior stakeholders.
It’s a bonus if you have but not essential
• Commercial understanding of the unsecured lending sector.?
• Strong understanding of the operations of Risk and the wider business.
• Understanding of pricing models and strategies.
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.
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.
