Business Unit: Group Risk, Model Risk & Analytics
Career Direction: Utilising our Data
Role Focus: Risk and Financial Modelling Peer Group: Management & Senior Specialists (B)
Salary range: £60,000 - £75,000 per annum
Location: UK, Hybrid, with team meetups in one of our hubs (Glasgow / Gosforth) x2 per year
Contract type: Permanent
Live to inspire change. Live a life more Virgin.
Our Team
Having solid Model Risk Management frameworks is super important for us to handle the risks that come with using models for our decisions, especially with all the complex regulations and growing expectations from regulators. Plus, with new tech like AI (and Gen AI) and new financial risks like climate change, the modelling space is constantly evolving and needs to be managed well.
That's where our team steps in! We provide independent validations and reviews, working with stakeholders across the bank to ensure our model developments are top-notch. We also make sure we stick to frameworks and policies by helping identify and fix any compliance gaps.
What you’ll be doing
* Designing a blueprint for process verification testing across the model lifecycle and embedding it in our existing validation processes
* Developing and executing comprehensive test plans across the model lifecycle, including test objectives, scope and success criteria
* Verifying the quality, consistency and relevance of input datasets by creating appropriate testing pipelines (e.g. data and model drift) using conventional and novel tools relating to data testing
* Evaluating model performance under stress scenarios and testing model scalability in production-like environments
* Designing effective integration testing that ensures seamless data flow and compatibility with overall system architectures
* Project leading and supporting a team of expert model validators covering an array of model types and performing highly quantitative process verification activities as part of validations
* Documenting and presenting validation findings to technical forums and governance committees, while producing summary reports and relevant Management Information (MI), where required
* Contributing to and influencing validation standards across the model lifecycle to continuously enhance the validation process, especially with process verification in mind
We need you to have
* An advanced degree in Computer Science, Data Science, Software Engineering, Statistics or relevant work experience
* Significant experience in data management, data quality assurance and/or reporting of risk data, including validating data inputs and/or data outputs
* Strong understanding of software engineering testing methodologies, including integration and scalability testing
* Significant experience in risk-specific systems (e.g. TSYS, PowerCurve) gained from implementing models in such systems or using them to monitor models and report on outputs
* Advanced knowledge of at least one programming language, e.g. SAS, R, Python, SQL
* Experience in independently validating / reviewing or building models
* Experience of leading a project-based team in a fast-paced environment, including effective resource management, positive behaviours and performance coaching to build capability
It’s a bonus if you have but not essential
* Knowledge of Model Risk Management frameworks and associated regulations (e.g. SS1/23)
* Familiarity with data science testing frameworks (e.g. unittest, pytest) and relevant processes (e.g. CI / CD pipelines for automated testing and deployment, Git for version control)
* Understanding of data privacy (e.g. GDPR) and security regulations. Familiarity with ethical principles including bias and fairness testing
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.
And there's no waiting around, you'll enjoy these benefits from day one.
Feeling insatiably curious about this role? 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're customer obsessed and work tirelessly to create positive experiences for our millions of customers and deliver on our purpose, ‘Making You Happier About Money.’ Our customer centric culture means that we're able to do banking differently and by innovating and working together we can 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 careers@virginmoney.com
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.