Business Unit:
Model Risk & Analytics, IFRS 9 and Stress testing
Salary range:
£26,400 - £33,000 per annum DOE + benefits
Location:
UK Hybrid (London 1 day a week)
Contract type:
Permanent
Our Team
We have an exciting opportunity in our IFRS 9 and Stress Testing team within Model Risk & Analytics. The Model Monitoring Analyst plays a key role in maintaining and monitoring the performance of VMUK's suite of IFRS 9, macro-economic, and stress testing models, used to forecast loan loss provisions and capital requirements under various scenarios, including regulatory stress tests. The role offers exposure to a broad range of models across retail and business asset classes, driving business insights, supporting model calibrations, IFRS 9 monitoring, macroeconomic monitoring, and presenting findings to stakeholders.
What you'll be doing
1. Monitor and support stress testing and macroeconomic models across Retail and Business portfolios, including IRB and IFRS 9 environments.
2. Develop and maintain Management Information (MI) dashboards in Power BI to track model performance.
3. Collaborate with the model development team to understand and implement MI requirements.
4. Gather stakeholder feedback to ensure MI meets business needs.
5. Present insights and findings to governance committees and stakeholders.
6. Identify and address model performance issues, embedding learnings from evolving requirements.
7. Work closely with credit risk, finance, and business teams for insights and feedback on credit stress testing models.
8. Support the operational aspects of the credit stress testing team regarding model usage.
We need you to have
* Good knowledge of stress testing frameworks and macroeconomic model methodologies across Retail and Business credit portfolios.
* Experience in model monitoring and development using Power BI, SAS, and R.
* Proficiency in developing MI dashboards with Power BI.
* Strong analytical skills and attention to detail.
* Excellent communication skills for conveying complex methodologies to diverse audiences.
* Ability to liaise effectively with model development teams and present to governance bodies.
It's a bonus if you have but not essential
* Python experience
Red Hot Rewards
* Generous holidays – 38.5 days annual leave plus options to buy more.
* Up to five paid well-being days annually.
* 20 weeks paid, gender-neutral family leave (total 52 weeks).
* Market-leading pension, private medical cover, income protection, and life assurance.
* Flexible benefits including Cycle to Work, wellness assessments, and critical illness cover.
Benefits start from day one.
Interested?
If interested, apply promptly as the advert may close early due to high demand.
We support flexible working arrangements.
About Virgin Money
We aim to be the UK's best digital bank, with over 180 years of heritage. We focus on innovation, customer obsession, and making banking more fulfilling. Join us to Live a Life More Virgin and make a difference.
Inclusivity and support
We value diversity and inclusion, committed to creating a safe and inspiring environment. As a Disability Confident Leader, we support reasonable adjustments for applicants. We may limit interviews for high-volume applications, but we encourage all eligible candidates to apply.
Legal notes
Colleagues can work from anywhere in the UK if the role permits, subject to right to work. Pre-employment checks include references, credit, criminal record, and, for certain roles, regulatory checks.
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