Modelling Analyst

Business Unit: Model Risk & Analytics, IFRS 9 and Stress testing
Salary range: £26,400 - £33,000 per annum DOE + red-hot 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 in Model Risk & Analytics. The Model Monitoring Analyst is a key role in the maintenance and performance monitoring of VMUK’s suite of IFRS 9, macro-economic and stress testing models, which are used to forecast loan loss provisions and capital requirements under a range of scenarios, including regulatory stress tests. You’ll have the opportunity to work across a broad range of models spanning retail and business asset classes and drive business insight. Additionally, the role involves supporting model calibrations, IFRS 9 monitoring, macroeconomic monitoring, and presenting findings to stakeholders.

What you’ll be doing

Monitor and support the suite of stress testing models and macroeconomic models across Retail and Business portfolios, including IRB and IFRS 9 modelling environments.

Develop and maintain Management Information (MI) dashboards in Power BI to track model performance and outcomes.

Liaise with the model development team to understand and implement MI requirements.

Capture requirements and gather feedback from stakeholders to ensure MI meets business needs.

Present findings and insights to governance committees and other stakeholders.

Focus on continuous improvement by identifying and addressing model performance issues and embedding learnings from evolving business and regulatory requirements.

Collaborate closely with credit risk modelling, finance, and business teams to obtain insights and feedback for the management of the credit stress testing models.

Support the operational/delivery arm of the credit stress testing team in relation to model usage.

We need you to have

Good knowledge of stress testing frameworks and macroeconomic model methodologies across a range of Retail and Business credit portfolios, with a strong understanding of model usage.

Substantial experience in model monitoring and development, using Power BI, SAS and R.

Proficiency in developing and maintaining Management Information (MI) dashboards, using Power BI.

Excellent analytical ability to solve complex problems, with a keen attention to detail.

Strong communication skills to effectively convey complex methodologies, processes, and outputs to colleagues with varying levels of subject matter expertise.

The proven ability to liaise with model development teams effectively to understand and implement MI requirements, capture stakeholder feedback, and present findings to governance committees.

It’s a bonus if you have but not essential

Python experience

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, and 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 deliver on our purpose, ‘Making You Happier About Money.’ This means we're able to do banking differently, and by innovating and working together we can make a real difference by creating memorable moments and red-hot experiences for our millions of customers. 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

It’s important to note that there may be occasions where it’s not possible to interview all candidates declaring a disability who meet the essential criteria for the job. In certain recruitment situations such as receiving a high-volume of applications, we may need to limit the overall numbers of interviews offered to both disabled and non-disabled applicants.

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