Climate Risk Stress Testing Specialist

Business Unit:Risk Analytics Centre of Excellence
Salary range: 39200 - 52000 per annum DOE red-hot benefits
Location:UK Hybrid attendance to London HUB 1x per week.
Contract type: Permanent

Our Team

We have an exciting opportunity in our Credit Stress Testing Modelling team in Risk Analytics. The Climate Risk Stress Testing Specialist is a key role in the development maintenance and performance monitoring of VMUKs suite of Climate stress testing models which are used to forecast loan loss provisions and capital requirements under a range of Climate 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.

What youll be doing

• Leading the development of the suite of climate stress testing models across Retail and Business portfolios and across IRB and IFRS 9 modelling environments
• Supporting technical leads to independently implement changes to the SAS based Stress Testing Engines and associated analytical tools
• Focusing on continuous improvement through addressing of the Open Model validation actions and by identification of model performance issues addressing oversight actions and by embedding learnings and evolving business and regulatory requirements
• Ensuring effective design and implementation of the Climate Stress testing monitoring of the stress testing models
• Continually assess and identify SAS processes/code to promote simplification and automation reducing any operational risk inherent in the current environment
• Close collaboration with credit risk modelling finance and business teams for obtaining insights and feedback for the management of the credit stress testing models
• Assisting the operational/delivery arm of the credit stress testing team in relation to model usage.

We need you to have

• Good Knowledge of Climate risk model methodologies and stress testing frameworks across a range of Retail / Business credit portfolios with a good understanding of model usage
• Strong model development experience in stress testing ideally using SAS and R
• Effective Climate Risk Modelling skills across physical risk and transition risk
• A strong understanding of climate-related regulations and reporting standards (e.g. TCFD ESG reporting)
• Excellent analytical ability to solve complex problems with a keen attention to detail
• Brilliant communication skills to be able to effectively communicate complex methodologies processes and outputs to colleagues with varying levels of subject matter expertise.

Its 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 theres no waiting around youll enjoy these benefits from day one.

Feeling insatiably curious about this roleIf were lucky to receive a lot of interest we may close the advert early and would hate you to miss out.

Were all about helping you Live a Life More Virgin so happy to talk flexible working with you.

Say hello to Virgin Money
Were making great strides towards achieving our ambition of becoming the UKs best digital bank. As a full-service digital bank with a heritage stretching back over 180 years were a workforce to be reckoned with and were putting the full power of our experience behind disruptive ideas that reinvent the role a bank plays in peoples lives. Were customer-obsessed and work tirelessly to deliver on our purpose Making You Happier About Money. This means were able to do banking differently and by innovating and working together we can make a real difference by creating memorable moments and red-hot experiences for our millions of customers. Join us and Live a Life More Virgin that empowers you with choice and flexibility in how you work.

Be yourself at Virgin Money
Our purpose is to make people happier about money this means seeing and feeling the world as our customers do by creating a workforce that reflects the rich diversity of our customers and communities. Were committed to creating an inclusive culture where colleagues feel safe and inspired to contribute speak up and be heard.

As a Disability Confident Leader were committed to removing any obstacles to inclusion. If you need any reasonable adjustments or support making your application contact our Talent Acquisition team

Its important to note that there may be occasions where its not possible to interview all candidates declaring a disability who meet the essential criteria for the job. In certain recruitment situations such as receiving a high-volume of applications we may need to limit the overall numbers of interviews offered to both disabled and non-disabled applicants.

Now the legal bit
Living A Life More Virgin allows our colleagues to be based anywhere in the UK (if the role allows it) but well need you to confirm you have the right to work in the UK.

If youre 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 well ask for six years of regulatory references and once in the role youll be subject to periodic employment checks.