Strategic Credit Risk Manager

Business Unit: Risk
Salary Range: £58,400 to £73,000 per annum DOE + benefits
Location: UK Hybrid – with occasional travel to Hub.
Contract Type: Permanent

Our Team
Our team plays a critical role in safeguarding both the bank and our customers by delivering impactful oversight and assurance across our Business lending portfolio. We ensure that credit underwriting standards, automated strategies, financial difficulty processes, and wider credit practices are robust, fit for purpose, and aligned with regulatory and risk expectations. Through independent investigation and analysis, we provide assurance, support, and actionable recommendations across the entire credit lifecycle. Our work enables safe, sustainable, and profitable lending growth while maintaining the highest standards of risk management and customer care.

What you\’ll be doing

• Deliver independent assurance on the execution of risk strategies and policies across first and second lines of defence, providing clear reporting to Senior Management on risk disciplines within the Bank.
• Collaborate with Business Credit Risk teams, Commercial and Operational colleagues to identify opportunities for improving risk management, enhancing efficiency, and delivering actionable insights to the business.
• Provide well-informed recommendations to Senior Management following assurance reviews to strengthen and evolve risk management practices.
• Ensure adherence to the Bank\’s Risk Appetite Statement and review areas of interest or concern to demonstrate compliance with the overall Risk Management Framework.
• Build and maintain strong relationships with stakeholders at both operational and senior levels to share best practice and drive continuous improvement.
• Manage deadlines effectively, shaping outcomes constructively to meet business needs.
• Uphold internal governance frameworks, policies, and regulatory guidelines, embedding these standards across the business to ensure robust risk practices.
• Challenge existing processes and champion continuous improvement through the delivery of the Risk Assurance Plan.

We need you to have

• Extensive experience in Business Credit Risk Management with knowledge of the UK lending markets, business sectors and macro-economic environment
• Ability to relay information, both written and verbally, to differing levels of seniority, in a clear, concise, and confident manner
• Ability to critique and challenge current policies, strategy and processes
• Capability to operate effectively with senior leaders, and represent VM with external stakeholders and stand up to robust challenge
• Proven experience in challenging other teams work through meetings and discussion forums, using strong influencing skills and Credit Risk knowledge
• Extensive experience in influencing change in a positive and collaborative manner, turning ideas into practical solutions

It\’s a bonus if you have but not essential

• Understanding of the Legal and Regulatory framework and agenda impacting Business lending in the UK
• Strong understanding of the operations of a Risk function
• Understanding of Credit Models, Scorecards and analysis of data through the use of statistical software, e.g., SAS/PowerBI and use if MS Office Suite.

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

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.