Model Risk Manager – Validation
Model Risk Manager – Validation

Model Risk Manager – Validation

England Full-Time 43200 - 72000 £ / year (est.) No home office possible
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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 to work in a supportive environment with ongoing training and career development.

The predicted salary is between 43200 - 72000 £ per year.

Location Chatham/London/Bradford/Petersfield

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.
  • 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

2 paid days to support a charity of your choice

Flexible, hybrid, & dynamic working policies

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Model Risk Manager – Validation employer: Vanquis

Vanquis Bank is an exceptional employer that prioritises the growth and well-being of its employees, offering a competitive salary alongside comprehensive benefits such as private medical insurance and a generous holiday entitlement. With a strong commitment to fostering a positive work culture, employees are encouraged to bring their authentic selves to work while benefiting from flexible working policies and ongoing training opportunities that support career development. Located in vibrant areas like Chatham, London, Bradford, and Petersfield, Vanquis Bank provides a dynamic environment where you can thrive both personally and professionally.
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Contact Detail:

Vanquis 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 IFRS 9 and scorecards. Understanding these models will not only help you during interviews but also demonstrate your proactive approach to the role.

Tip Number 2

Network with professionals in the risk management field, especially those who have experience in model validation. Engaging in discussions or attending relevant events can provide insights and potentially lead to referrals.

Tip Number 3

Prepare to discuss your analytical thinking skills and how you've used data to make decisions in past roles. Be ready to share specific examples that highlight your ability to interpret MI/BI effectively.

Tip Number 4

Research Vanquis Bank's culture and values to align your responses during interviews. Showing that you understand their commitment to responsible lending and customer outcomes can set you apart from other candidates.

We think you need these skills to ace Model Risk Manager – Validation

Model Validation
Risk Management
Analytical Thinking
Communication Skills
Stakeholder Management
Technical Design Assessment
Forecasting Models
IFRS 9 Knowledge
Scorecard Development
Pricing Model Expertise
Report Writing
Problem-Solving Skills
PC Literacy (MS Office)
Time Management
Relationship Management
Decision-Making Skills
Proactive Ownership
Influencing Skills
Negotiation Skills
Regulatory Compliance Awareness

Some tips for your application 🫡

Understand the Role: Before applying, make sure to thoroughly read the job description for the Model Risk Manager – Validation position. Understand the key responsibilities and required skills, as this will help you tailor your application effectively.

Tailor Your CV: Highlight relevant experience in model development or validation in your CV. Use specific examples that demonstrate your analytical thinking, communication skills, and ability to work independently, as these are crucial for the role.

Craft a Compelling Cover Letter: Write a cover letter that not only outlines your qualifications but also reflects your understanding of Vanquis Bank's values and culture. Emphasise your commitment to high standards in model validation and your proactive approach to risk management.

Showcase Relevant Skills: In your application, be sure to mention your proficiency with MS Office tools and any risk-related qualifications you possess. Highlight your ability to communicate effectively and build relationships, as these are essential for the role.

How to prepare for a job interview at Vanquis

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 IFRS 9, and how you validated them.

Communicate Effectively

Since the role involves delivering validation reports and communicating model risks, practice articulating your thoughts clearly. Use examples from your past experiences to demonstrate your ability to influence and negotiate with stakeholders.

Showcase Analytical Skills

Be ready to discuss how you interpret management information (MI) and business intelligence (BI) for decision-making. Prepare to share instances where your analytical thinking led to significant insights or improvements in model performance.

Demonstrate Relationship Management

Highlight your experience in building and maintaining relationships across different levels of an organisation. Discuss how you've balanced assertiveness with collaboration to achieve positive outcomes in previous roles.

Model Risk Manager – Validation
Vanquis

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