Credit Risk and Control Manager

Business Unit: Credit
Salary range: £58,400 – £73,000 per annum DOE
Location: Hybrid – with occasional travel required to one of our key hubs
Contract type: Permanent

Our Team
The Strategic Credit Risk team supports a broad range of key areas of Credit Risk. The team supports the Chief Credit Officer (CCO) and the wider 2LOD Credit risk team managing and overseeing the risk profile for Credit, leading strategic initiatives and assurance reviews across Credit and supporting the Credit change agenda.

What you’ll be doing

• Leading and supporting business areas to utilise and update the Bank’s central risk and control system (IRM) in line with the group’s Risk Management Framework.
• Ensuring risk management practices are well understood, communicated, and embedded across the Bank by liaising with the first and second line of defence (1LOD & 2LOD) for the timely identification and management of emerging risks and issues.
• Leading the support, guidance, and constructive challenge to manage risk effectively, driving a robust control environment and providing a central point of contact for Credit Risk Management interactions with colleagues in other areas of the Bank.
• Development and implementation of meaningful Key Risk Indicators (KRIs) across the function, ensuring all key risks are identified, discussed, and managed accordingly with the Credit Risk Leadership team and wider business.
• Providing accurate and timely reporting of risks, controls, key indicators, and issues to the monthly Credit Risk Forum and other senior committees, designing and producing succinct and accurate reports, including Control Effectiveness Statements.
• Overseeing management and continuous improvement activities across Credit Risk profiles, performing reviews on the application of control frameworks, completing control testing and assurance reviews, and ensuring risks are appropriately assessed and escalated as required.
• Maintaining awareness of regulatory and mandatory changes, proactively monitoring regulatory changes and operational performance, and supporting risk owners in managing their responsibilities and meeting the Risk Management Framework (RMF) minimum standards. Supporting strategic Credit Risk initiatives and changes, as required.

We need you to have

• Proven experience in understanding and applying risk management frameworks, methodologies, associated policies, and standards, ensuring robust risk management practices are in place.
• Demonstrated ability to produce dynamic and high-quality risk reporting, including the design and production of succinct and accurate reports, and implementing robust governance procedures and systems.
• Expert ability to engage confidently with stakeholders at all levels, providing risk insight and opinion on queries and papers, and leading support, guidance, and constructive challenge.
• Proven experience in providing insightful analysis, identifying and escalating key risks, and performing reviews on the application of control frameworks to ensure risks are appropriately assessed and managed.
• Expert knowledge of managing regulatory changes, with the proven ability of proactively monitoring regulatory changes and operational performance, supporting risk owners in meeting required standards.

It’s a bonus if you have but not essential

• Strong understanding of a Credit Risk function
• Knowledge of Risk Management disciplines and the 3 Lines of Defence model in place across the Bank

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.

If we’re lucky to receive a lot of interest, we may close the advert early. Please ensure to submit your applications as soon as possible.

Say hello to Virgin Money
Virgin Money is so much more than just a bank. As part of theNationwide group,together we\’re the UK\’s first full-service mutual bank serving millions of retail and business customers and all driven by our purpose; Banking but fairer, more rewarding and for the good of society. With us, you’ll be part of an organisation uniquely positioned to make a difference to the lives of customers, communities and broader society and embark on a collaborative, customer obsessed, and fun-filled career journey. Embrace the weekdays, enjoy fantastic perks, and make a meaningful positive difference. Time to discover what it means to be part of the first mutual full-service banking provider.

Be yourself at Virgin Money
At Virgin Money, we celebrate everyone. We have fun, think big, and relentlessly include each other, all in pursuit of our purpose: Banking – but fairer, more rewarding, and for the good of society.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 teamcareers@virginmoney.com

Please note: If we receive a high volume of eligible applications, we may need to prioritise candidates whose skills and experience most closely align with the role, while still ensuring fair and equitable consideration for all applicants.

Now the legal bit
Although some of our roles allow you to be based anywhere in the UK, 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.

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