Model Risk Manager - Oversight

Net-Worx (2001) Ltd; England; Hybrid; GBP 50,000 - 80,000; Full time

Benefits offered by this job

Private Medical Insurance

25 days holiday entitlement

Defined contribution pension scheme

Discretionary bonus scheme

Flexible working policies

Job summary

A leading specialist bank seeks a Model Risk Manager - Oversight to provide assurance and advisory support for model risk management. The role involves collaborating with stakeholders, assessing risks, and ensuring compliance with risk management standards. The successful candidate will have strong analytical and communication skills, along with experience in model risk management.

Qualifications

• Experience in a model risk management role.
• Ability to deliver high-quality work to deadlines.
• Excellent written and verbal communication skills.

Responsibilities

• Provide oversight of risk management standards across models.
• Identify control gaps and weaknesses in model design.
• Deliver fieldwork against assurance scope.

Skills

Analytical thinking

Effective communication

Problem-solving mindset

Relationship management

Education

Risk-related qualification (e.g., IRM)

Tools

MS Office Word

MS Office Excel

MS Office PowerPoint

Job description

Location: Chatham/London/Bradford/Petersfield

The Vacancy

You will provide independent assurance and advisory support to the management of model risk. As part of the second line of defence, the Model Risk Manager - Oversight will be responsible for delivering assurance over the design and effectiveness of the bank's models, identifying weaknesses, and working closely with stakeholders to agree and track appropriate actions. The role will collaborate with first line model risk owners, users, and developers to promote a balanced risk-reward approach that ensures the bank's long-term stability and success.

Responsibilities:

1. Provide oversight of risk management standards and outcomes across the bank's models.
2. Promote a positive culture driving the highest standards in model risk management.
3. Assess current and future risks, including those created through regulatory and macroeconomic changes.
4. Identify control gaps, weaknesses, or failures related to model design, development, and usage.
5. Manage the execution of model risk oversight reports to monitor key risk indicators and mitigations.
6. Deputise for the Senior Manager as required.
7. Maintain a good understanding of the bank's model risk exposures to support the development of risk management standards and behaviors.
8. Support the ongoing development of model risk oversight frameworks and methodologies.
9. Complete model risk assessments in advance of assurance activities to inform approach and strategy.
10. Prepare and agree on scope memos and objectives with key stakeholders.
11. Deliver fieldwork against assurance scope, including an integrated assessment of the risk and control environment for relevant models.
12. Provide detailed reports with quantified findings on model risk exposures and weaknesses.
13. Present and agree findings with key stakeholders prior to circulation of the final report.
14. Follow up on the status of actions and test their implementation where necessary.
15. Maintain strong, cooperative, and effective working relationships with colleagues.
16. Ensure all communications are clear, concise, and informative.
17. Offer sound advice with clear rationale, impacts, and benefits.
18. Maintain a ‘no-surprises’ approach to credit risk findings or concerns.

Experience Required:

• Ability to deliver high-quality, accurate work to deadlines and support others in doing the same.
• Effective communication skills to gain management support through reasoned arguments and decision-making.
• Analytical thinking to interpret MI/BI for sound decision-making.
• Problem-solving mindset using thoughtfulness, drive, and appropriate urgency.
• Excellent written and verbal communication skills to influence, negotiate, provide feedback, and challenge constructively at all levels.
• Proficiency in MS Office Word, Excel, PowerPoint.
• Proven ability to plan, organize, prioritize deadlines, and work efficiently at a fast pace.
• Strong initiative in concluding assurance results.
• Ability to work independently, proactively manage workload, and meet deadlines.
• Positive attitude, leadership, and motivation skills.
• Enthusiasm and passion for engaging with colleagues.
• Focus and drive when working towards stretch goals and deadlines.
• Detailed knowledge of risk management frameworks.
• Excellent relationship management and influencing skills, balancing assertiveness with relationship-building.
• Experience in a model risk management role.
• Experience in control monitoring or quality assurance.
• Risk-related qualification (e.g., IRM) is desirable but not essential.
• Ability to partner with stakeholders, understand their views, and create recommendations based on information and judgment.

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 committed to our colleagues and customers, offering competitive salaries, benefits, and recognition schemes. Our pension plans, ‘Buy as You Earn’ scheme, and ongoing training create a supportive environment for growth and success.

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, plus 1 day accrued per year (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, and dynamic working policies