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- Tasks: Monitor and support IFRS 9 and stress testing models, presenting insights to stakeholders.
- Company: Join Virgin Money, a pioneering mutual bank focused on fair and rewarding banking for all.
- Benefits: Enjoy 38.5 days annual leave, flexible benefits, and market-leading pension from day one.
- Why this job: Be part of a collaborative team making a positive impact on society while developing your skills.
- Qualifications: Strong knowledge of IFRS 9, model monitoring experience, and proficiency in Power BI, SAS, or R required.
- Other info: Remote work available; apply early as the advert may close if interest is high.
The predicted salary is between 32800 - 41000 £ per year.
Business Unit: Risk Salary range: £32,800
Read the overview of this opportunity to understand what skills, including and relevant soft skills and software package proficiencies, are required.
– £41,000 per annum Location: UK, Remote 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 Senior 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.
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.
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 IFRS 9, 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 IFRS 9, stress testing frameworks and macroeconomic model methodologies across a range of Retail and Business credit portfolios, with a strong understanding of model usage.
Strong experience in model monitoring and development, ideally using Power BI, SAS and R.
Proficiency in developing and maintaining Management Information (MI) dashboards, preferably in 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.
Ability to liaise with model development teams 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.
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 the Nationwide 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 team careers@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.d02fcfcb-6df4-40ee-95cf-3eb059ce3173
Modelling Senior Analyst employer: Virgin Money
Contact Detail:
Virgin Money Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Modelling Senior Analyst
✨Tip Number 1
Familiarise yourself with IFRS 9 and stress testing frameworks. Understanding these concepts deeply will not only help you in interviews but also demonstrate your commitment to the role.
✨Tip Number 2
Brush up on your Power BI skills, especially in developing Management Information dashboards. Being able to showcase your proficiency in this area can set you apart from other candidates.
✨Tip Number 3
Prepare to discuss your experience with model monitoring and development. Be ready to provide examples of how you've tackled complex problems in previous roles, as this will highlight your analytical abilities.
✨Tip Number 4
Practice your communication skills, particularly in explaining complex methodologies. You may need to present findings to stakeholders, so being clear and concise is crucial.
We think you need these skills to ace Modelling Senior Analyst
Some tips for your application 🫡
Understand the Role: Before applying, make sure to thoroughly read the job description for the Modelling Senior Analyst position. Pay attention to the required skills, such as knowledge of IFRS 9 and experience with Power BI, SAS, and R.
Tailor Your CV: Customise your CV to highlight relevant experience and skills that align with the job requirements. Emphasise your analytical abilities, model monitoring experience, and any specific software proficiencies mentioned in the job description.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for the role and the company. Mention how your background fits the responsibilities outlined, particularly your experience with model performance monitoring and stakeholder communication.
Highlight Soft Skills: In your application, don't forget to mention your soft skills, such as strong communication and collaboration abilities. These are crucial for presenting findings to stakeholders and working with various teams, as noted in the job description.
How to prepare for a job interview at Virgin Money
✨Understand IFRS 9 and Stress Testing
Make sure you have a solid grasp of IFRS 9, stress testing frameworks, and macroeconomic model methodologies. Be prepared to discuss how these concepts apply to both retail and business credit portfolios, as this knowledge will be crucial during your interview.
✨Showcase Your Technical Skills
Highlight your experience with Power BI, SAS, and R, especially in developing and maintaining Management Information dashboards. Be ready to provide examples of how you've used these tools to monitor model performance and solve complex problems.
✨Communicate Effectively
Strong communication skills are essential for this role. Practice explaining complex methodologies and processes in simple terms, as you'll need to convey your findings to stakeholders with varying levels of expertise. Consider preparing a few key points or examples to illustrate your ability to communicate effectively.
✨Demonstrate Collaboration Skills
This role involves working closely with various teams, so be prepared to discuss your experience in collaborating with others. Share examples of how you've liaised with model development teams or gathered feedback from stakeholders to improve model performance and meet business needs.
