Modelling Specialist
Virgin Money
MANCHESTER, ENG, United Kingdom
Business Unit: Risk Analytics Centre of Excellence Salary range: £39,200 - £52,000 per annum DOE + red-hot benefits Location: UK Hybrid, attendance to London HUB 1x per week. Contract type : Permanent
Our Team
We have an exciting opportunity in our Credit Stress Testing Modelling team in Risk Analytics. The Climate Risk Stress Testing Specialist is a key role in the development, maintenance, and performance monitoring of VMUK s suite of Climate stress testing models, which are used to forecast loan loss provisions and capital requirements under a range of Climate scenarios, including regulatory stress tests. The role holder will have the opportunity to work across a broad range of models spanning retail and business asset classes and drive business insight.
What you ll be doing
Leading the development of the suite of climate stress testing models across Retail and Business portfolios, and across IRB and IFRS 9 modelling environments
Supporting technical leads to independently implement changes to the SAS based Stress Testing Engines and associated analytical tools
Focusing on continuous improvement through addressing of the Open Model validation actions and by identification of model performance issues, addressing oversight actions and by embedding learnings and evolving business and regulatory requirements
Ensuring effective design and implementation of the Climate Stress testing monitoring of the stress testing models
Continually assess and identify SAS processes/code to promote simplification and automation, reducing any operational risk inherent in the current environment
Close collaboration with credit risk modelling, finance and business teams for obtaining insights and feedback for the management of the credit stress testing models
Assisting the operational/delivery arm of the credit stress testing team in relation to model usage.
We need you to have
Good Knowledge of Climate risk model methodologies and stress testing frameworks across a range of Retail / Business credit portfolios with a good understanding of model usage
Strong model development experience in stress testing, ideally using SAS and R
Effective Climate Risk Modelling skills across physical risk and transition risk
A strong understanding of climate-related regulations and reporting standards (e.g. TCFD, ESG reporting)
Excellent analytical ability to solve complex problems, with a keen attention to detail
Brilliant communication skills to be able to effectively communicate complex methodologies, processes, and outputs to colleagues with varying levels of subject matter expertise.
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 careers@virginmoney.com
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.