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For Companies At a Glance
- Tasks: Validate models to ensure their effectiveness and compliance across the bank.
- Company: Join Vanquis Bank, a leading specialist bank empowering lives since 1880.
- Benefits: Enjoy competitive salary, private medical insurance, flexible working, and generous holiday entitlement.
- Why this job: Be part of a culture that values growth, collaboration, and making a positive impact.
- Qualifications: Experience in model development or validation, strong analytical and communication skills required.
- Other info: Opportunity for personal development and involvement in meaningful projects.
The predicted salary is between 43200 - 72000 £ per year.
The Vacancy
You will undertake independent validation of models across the Bank. As part of the second line of defence, the Model Risk Manager – Validation will be integral to the delivery of 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 Groups long-term stability and success.
Responsibilities:
- Lead independent validation of models used across the Bank to assess their conceptual soundness, technical design, and ongoing performance.
- Promote 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 communicating model risk.
- Be a champion of effective model maintenance and management through development and ongoing validation in addition to driving discussion and challenge in model monitoring reviews.
- Identify model drift, weaknesses, non-compliance, business risks or control weakness, and communicate these to the relevant stakeholders.
- Review model compliance assessments.
- Deputise for the Senior Model Risk Validation Manager as required..
- Maintain a co-operative and effective relationship with senior management and colleagues across the business always assisting them to comply with relevant regulations and achieve fair customer outcomes.
- Promote 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.
Experience required:
• Professional experience in model development or model validation.
• Experience of model types such as forecasting, IFRS 9, scorecards, and pricing.
• Able to deliver high quality, accurate work to deadlines, and support others.
• Able to communicate effectively to gain the support of management through reasoned argument and effective decision making.
• Analytical thinking who can interpret MI/BI and use it for sound decision making.
• Excellent communication skills (written and verbal) with the ability to influence, negotiate, feedback and constructively challenge at all levels.
• PC Literacy to include MS Office Word, Excel, Power Point.
• Proven ability to effectively plan and organise work effectively and prioritise deadlines whilst working at a fast pace.
• Strong ability to use initiative when concluding on testing results.
• Proven ability to work independently and pro-actively take ownership for own workload to meet deadlines.
• Ability to demonstrate a positive attitude and the ability to lead and motivate others.
• Ability to deputise for the senior manager as required.
• Excellent relationship management and influencing skills with the ability to balance assertiveness with need to build and maintain internal relationships
• Risk related qualification (e.g. IRM) desirable but not essential
• Strong experience in a risk management role
• Experience of advising on Risk and Control Self-Assessment work
• Experience of Risk Management Information Systems
• Natural problem-solving mindset that uses thoughtfulness, drive, and appropriate urgency
• Partnering with key stakeholders to ensure views are understood and agreement is reached using both information and judgement to create recommendations and support decisions.
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 just as committed to our colleagues as we are to our customers, offering competitive salaries, comprehensive benefits, and recognition schemes. With pension plans, our \’Buy as You Earn\’ scheme, and ongoing training opportunities, we create a supportive environment where you can grow and thrive.
Bring your authentic self, find your voice, and build your career with us-because at Vanquis, we believe in making the most of life\’s opportunities.
The Benefits
Competitive base salary and rewards
Private Medical Insurance
25 days holiday entitlement
one day accrued for each year of service (max 30 days)
Defined contribution pension scheme
Discretionary bonus scheme
Perks at Work
A perks platform of over 30,000 unique discounts
Volunteering
2 paid days to support a charity of your choice
Flexible, hybrid, & dynamic working policies
Personal & career development opportunities
Monthly and Quarterly Colleague Socials
Discounted gym membership
BUPA GP Service
Workplace Gallery
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Model Risk Manager - Validation employer: Vanquis Bank
Contact Detail:
Vanquis Bank Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Model Risk Manager - Validation
✨Tip Number 1
Familiarise yourself with the specific models mentioned in the job description, such as forecasting and IFRS 9. Understanding these models will not only help you during interviews but also demonstrate your proactive approach to model validation.
✨Tip Number 2
Network with professionals in the risk management field, especially those who have experience in model validation. Engaging in discussions about best practices and challenges can provide valuable insights and may even lead to referrals.
✨Tip Number 3
Prepare to discuss your analytical thinking skills by reviewing case studies or examples of model validation you've encountered. Being able to articulate your thought process and decision-making will impress interviewers.
✨Tip Number 4
Showcase your communication skills by practising how to present complex information clearly and concisely. This is crucial for the role, as you'll need to effectively communicate model risks to various stakeholders.
We think you need these skills to ace Model Risk Manager - Validation
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in model development or validation. Emphasise your analytical skills and any specific model types you've worked with, such as forecasting or IFRS 9.
Craft a Strong Cover Letter: In your cover letter, express your understanding of the role and how your background aligns with the responsibilities outlined. Mention your ability to communicate effectively with stakeholders and your commitment to high standards in model validation.
Showcase Communication Skills: Since excellent communication is key for this role, provide examples in your application that demonstrate your ability to influence and negotiate at various levels. This could be through past experiences where you successfully communicated complex information.
Highlight Problem-Solving Abilities: Include specific instances where you've used your problem-solving mindset to address challenges in model validation or risk management. This will show your proactive approach and ability to take ownership of your workload.
How to prepare for a job interview at Vanquis Bank
✨Understand Model Validation Fundamentals
Make sure you have a solid grasp of model validation principles, including conceptual soundness and technical design. Be prepared to discuss specific models you've worked with, such as forecasting or scorecards, and how you validated them.
✨Communicate Effectively
Since the role involves delivering validation reports and communicating with stakeholders, practice articulating your thoughts clearly. Use examples from your experience to demonstrate how you've influenced decisions or resolved conflicts in previous roles.
✨Showcase Analytical Skills
Be ready to discuss how you interpret management information and business intelligence for decision-making. Prepare to share instances where your analytical thinking led to identifying model drift or weaknesses.
✨Demonstrate Relationship Management
Highlight your ability to build and maintain relationships across different levels of an organisation. Think of examples where you've successfully collaborated with senior management or other teams to achieve compliance and fair customer outcomes.
