The Vacancy
You will lead all the independent validation of models across the Bank. As part of the second line of defence, the Senior Model Risk Manager - Validation will be responsible for designing, prioritising, and delivering the model validation plan to ensure effective development and ongoing use of models across Vanquis Bank. The role will work closely with the first line model owners, users, and developers to promote a balanced risk-reward approach that ensures the Group's long-term stability and success.
Responsibilities:
* Oversee and lead the team's independent validation of models used across the Bank to assess their conceptual soundness, technical design, and ongoing performance.
* Create a positive culture driving the highest standards in model validation and management.
* Attend meetings with key stakeholders and senior leadership to deliver validation reports and effectively communicate model risk.
* Be a champion of effective model maintenance and management through development and ongoing validation, and drive discussion and challenge in model monitoring reviews.
* Support validation managers to identify model drift, weaknesses, non-compliance, business risks, or control weaknesses, and communicate these to relevant stakeholders.
* Ensure models are developed and maintained to be compliant.
* Deputise for the Head of Credit and Model Risk Oversight as required.
* Create a cooperative and effective relationship with senior management and colleagues across the business, always assisting them to comply with relevant regulations and achieve fair customer outcomes.
* Design a robust feedback loop that results in a no-surprise approach to validation reporting.
* Maintain an understanding of relevant business areas under review through asking intuitive questions and keeping regulatory requirements and the customer in mind.
* Ensure colleagues have a clear understanding of the business objectives and how their role contributes to them.
* Manage resources across the team to deliver the review work in line with operational risk objectives.
* Re-prioritise activity quarterly based on business needs and available resources.
* Support validation managers in delivering their remit as required.
* Build team capability by supporting and coaching through effective performance management practices.
* Communicate effectively with the Head of Credit and Model Risk Oversight regarding team performance, succession planning, and overall team health.
* Ensure the right people are in the right roles, with skills being utilised effectively to build high-quality teams.
* Manage team attendance, behaviours, and wellbeing discussions regularly.
* Create an inclusive culture promoting diversity and VBG values.
Experience required:
* Significant experience as a senior risk professional.
* Strong analytical skills with proven risk reporting capabilities.
* Experience developing and leading risk management practices and risk culture improvements in relevant environments.
* Degree or relevant professional qualification, with experience in risk-based monitoring or audit in regulated settings.
* Professional experience in model development or validation.
* Experience with various model types, including forecasting, IFRS 9, scorecards, and pricing.
* Ability to challenge stakeholders constructively and identify workable solutions.
* Quick understanding of business issues and risk events.
* Effective presentation and facilitation skills.
* Sound judgment, independence, and objectivity.
* Knowledge of credit cards, motor finance, deposits, and loans.
* Leadership skills to deliver high-quality work on deadlines.
* Delegation skills.
* Ability to deputise for the Head of Function and represent the department credibly.
* Analytical thinking and MI/BI interpretation skills.
* Excellent written and verbal communication, influencing, and negotiation skills.
* Effective planning, organisation, and prioritisation skills.
* Experience designing operational risk frameworks.
* Experience preparing reports for stakeholders and oversight committees.
* Coaching and staff development experience.
* Proficiency in MS Office (Word, Excel, PowerPoint).
* Ability to collaborate with peers and senior colleagues to foster a risk-aware culture.
The Company
At Vanquis, we've been empowering lives since 1880. As a FTSE All Share company and leading specialist bank, we lend responsibly to over 1.69 million UK customers.
We're committed to our colleagues and customers, offering competitive salaries, benefits, and recognition schemes, including pension plans, 'Buy as You Earn', and ongoing training opportunities.
Join us to bring your authentic self, find your voice, and build your career, because we believe in making the most of life's opportunities.
The Benefits
* Competitive salary and rewards
* Private Medical Insurance
* 25 days holiday, plus 1 day accrued per year (max 30)
* Defined contribution pension scheme
* Discretionary bonus scheme
* Perks at Work platform with over 30,000 discounts
* Volunteering leave: 2 paid days for charity work
* Flexible, hybrid working policies
* Personal and career development opportunities
* Monthly and quarterly social events
* Discounted gym memberships
* BUPA GP Service
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