location_0_addressRegionName

location_0_addressCountryName

OFFSITE

PERMANENT

FULL_TIME

jobPosting hiringOrganization as json hashed.

ADAPTED_NOW

UNKNOWN

Risk Manager

You’ll be helping to embed new MRM practices and a brand-new technology solution (MAx) that will transform the way we manage model risk, whilst delivering insights and analytics across the expanding universe of models and other objects we look after. Ensuring we have a robust Model Risk Management (MRM) framework is essential for us to manage risk arising from using models for our decision making, while complying with complex regulations and increasing regulatory expectations.

KBSkills

ACTIVE

Business Unit:  Model Risk and Analytics Salary range: up to circa £93,000 per annum DOE + Red Hot benefits! Location:  UK remote with the option to attend a local HUB. Contract type: PermanentLive for the weekday. Live a life more Virgin.Our Team It’s an exciting time to be joining Model Risk Governance, a central pillar in the Model Risk & Analytics (MR&A) team. Ensuring we have a robust Model Risk Management (MRM) framework is essential for us to manage risk arising from using models for our decision making, while complying with complex regulations and increasing regulatory expectations. Also, the advent of new technologies (e.g., AI) and emerging sources of financial risk (e.g., climate change) drive innovation in the modelling space that must be managed appropriately.You’ll be helping to embed new MRM practices and a brand-new technology solution (MAx) that will transform the way we manage model risk, whilst delivering insights and analytics across the expanding universe of models and other objects we look after.What you’ll be doing<ul><li>Driving the remediation plan to achieve and maintain material compliance against new regulation SS1/23 (MRM Principles for Banks), representing a multi-year journey towards elevated MRM standards / practices across the model lifecycle.</li><li>Leading a small team of expert model governance analysts/specialists and analysing trends that highlight model risks, issues, remediation actions and commercial opportunities.</li><li>Maintaining the MRM Policy Framework, including Model Risk Policy, Validation Framework, and other MRM Standards (e.g., PMA standards).</li><li>Developing and introducing new principles, practice and tools as needed, ensuring that the developments are industry recognised, proven, and refined by other professional such as third parties & management within the function.</li><li>Representing the Bank with external bodies including external audit functions, external consultancies, and the Regulator.</li><li>Providing MRM training for Senior management across technical fora (e.g., CMTF), Model Governance Committee and Board.</li><li>Supporting the development of the End User Computing (EUC) Standard and identification and management of EUCs across the bank</li><li>Ensuring the following are included embedded into policy and operation to ensure the best practise and professionalism of the model risk function: model risk identification, quantification, mitigation, and reporting</li></ul> We need you to have<ul><li>Specialist knowledge covering Model Risk Management, regulatory requirements (e.g. SS1/23, CRR), policy and frameworks, model governance, risk appetite and industry best practice.</li><li>Technical knowledge within a range of modelling approaches (e.g. Credit Risk modelling – Scorecards, PD, EAD, LGD) and understanding the impacts on strategy and customers.</li><li>An in-depth knowledge of the Financial Services market and the opportunities and threats.</li><li>Excellent written and oral communication skills, with the ability to constructively influence and challenge Senior Management and the Regulators effectively.</li><li>Highly developed analytical and quantitative skills, demonstrable through a numerate degree or equivalent technical experience.</li></ul>It’s a bonus if you have but not essential<ul><li>Experience in working with Exec & Leadership teams.</li><li>A track record of dealing with and effectively influencing the Regulators.</li></ul>Red Hot Rewards<ul><li>Generous holidays - 38.5 days annual leave (including bank holidays and prorated if part-time) plus the option to buy more.</li><li>Up to five extra paid well-being days per year. </li><li>20 weeks paid, gender-neutral family leave (52 weeks in total) for expectant parents and those looking to adopt. </li><li>Market-leading pension.</li><li>Free private medical cover, income protection and life assurance.</li><li>Flexible benefits include Cycle to Work, wellness and health assessments, and critical illness. </li><li>Ability to work anywhere in the UK (where the role allows). </li></ul>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'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 "To apply, click the Monster apply button"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.

Virgin Money

Senior Manager Model Risk Governance

PayForPerformance

InventoryType

Autorefresh

IsEcomm

Analysis Skills

Artificial Intelligence (AI)

Banking Services

Best Practices

Climate Change

Communication Skills

Credit Risk

Diversity

Embedded Systems

External Audit

Financial Risk

Financial Services

Hyperion Pillar

Knowledge Modeling

Leadership

Life Insurance

Maintain Compliance

Object Modeling

Presentation/Verbal Skills

Quantitative Analysis

Regulations

Regulatory Compliance

Regulatory Requirements

Risk Analysis

Risk Management

Risk Modeling

Scorecarding

Team Lead/Manager

Training/Teaching

Trend Analysis

Writing Skills

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