Senior Manager, Credit Policy

Business Unit: Group Risk
Salary range: £74,400 – £93,000 per annum DOE + red-hot benefits
Location: Remote, UK Flexible

Your next adventure starts here

Our Team
We’ve an exciting opportunity in our Strategic Credit Risk team within Credit Risk. The Senior Manager, Credit Policy is a key role in designing, implementing, and directing VMs Credit Policy and Delegated Credit Authority frameworks. You’ll question the status quo, driving the simplification agenda across both Credit Policy and Decisioning Authorities.

What you’ll be doing
• Leading, directing and designing credit policy, simplifying and driving change. Simplification will be a key requirement to ensure Credit Policy is fit for the future and ensure VM can meet its digital ambitions.
• Undertaking continual assessment, simplification and monitoring of Credit Policy to ensure adherence and relevance to VMs strategic objectives and risk appetite. Responsibilities will include consideration of and responding to changing regulatory and prudential requirements.
• Maintaining and managing relationships regarding Credit Policy, ensuring compliance, and where necessary obtaining policy exemptions.
• Developing, implementing and designing appropriate Delegated Authority frameworks, including monitoring usage, compliance and controls delegated from Risk.
• Undertaking, as a minimum, annual review on the effectiveness of policies owned, prioritising and directing changes and developing review schedules based on materiality of Credit Policy.
• Supporting the implementation of overarching Credit Risk Governance and Control Frameworks in the bank to drive operational effectiveness of the Credit Risk function.
• Reviewing and making recommendations to Head of Strategic Credit Risk, and relevant committees, on Risk Appetite and any potential conflicts with policy.
• Guiding key stakeholders on the management or implementation of various projects relating to improving lending policy and practice.
• Developing effective systems and controls to identify, measure and control all business and regulatory risks to ensure that the firms’ business is conducted in a compliant manner.

We need you to have
• Detailed understanding and knowledge credit policy, loss methodologies and linking to delegated commitment authorities.
• Highly developed communication skills, both verbally and in writing.
• Strong Leadership and change management skills.
• Extensive experience across various Credit related positions.

It’s a bonus if you have but not essential
• Knowledge of Credit Risk within Retail or business banking
• A strong understanding of 3 Lines of Defence Model and Risk Management Principles
• A strong knowledge of regulatory frameworks including PRA and FCA approaches

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 and free private medical cover
• Flexible benefits include Cycle to Work, wellness and health assessments, and critical illness
• Ability to work anywhere in the UK (where the role allows)

And there’s no waiting around, you’ll enjoy these benefits from day one.

Feeling insatiably curious about this role? Apply as soon as you can. If we’re lucky to receive a lot of interest, we may close the advert early and would hate you to miss out.

We’re all about helping you Live a Life More Virgin, so happy to talk flexible working with you.

Say hello to Virgin Money
We’re making great strides towards achieving our ambition of becoming the UK’s best digital bank. As a full-service digital bank with a heritage stretching back over 180 years, we`re a workforce to be reckoned with. We’re putting the full power of our experience behind disruptive ideas that reinvent the role a bank plays in people’s lives. We strive to create positive experiences for our millions of customers and our purpose, ‘Making You Happier About Money’, underpins everything we do. We believe in doing banking differently, innovating and working together to make a real difference. 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. 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

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 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.