Since our launch in 2015, we’ve backed entrepreneurs with over £13bn in funding, helping create 56,000+ jobs and 34,000+ new homes across the UK and US and we’re not about to stop there. We’re dedicated to helping trailblazing businesses thrive and our strong analytics capabilities help us build trust and secure our digital assets and customer data.
This is a fantastic opportunity to join a fast-paced, growing bank with a reputation for doing things differently. We don’t want another cog in the machine, we’re looking for self-starters and bold thinkers who want to pave their own career.
In a nutshell this exciting and high-performing role, in the risk analytics team, you will be responsible for statistical model validation and regular monitoring for the credit risk models – PD/LGD/EAD and ICAAP models. You will also be involved in provisioning and stress testing exercise for the bank.
Are you ready to step up to the challenge?
Responsibilities
Ability to independently develop and lead the entire model validation framework at Oaknorth bank
Validating and documenting internal credit risk models of ON – PD/LGD/EAD/IFRS9 – one time and quarterly validation both qualitative and quantitative
Validating vendor models of the bank, if any
Building model validation governance framework as per regulatory requirements
Working closely with model development team to understand model build and other business reporting
Reporting the findings and suggesting quantitative and qualitative techniques for model enhancement
Working with Risk and compliance team within the bank for model validation, working closely with external auditors and third parties to get the validation done
Liaising with multiple teams and various business units across the firm for different risk management and stress testing initiatives.
Coding in SAS/R/Python to enhance the current models and automating the processes.
Analyzing, explaining and documenting the models and their results.
Assisting in research, modelling and development for refinement of the current credit risk framework
Communicating with stakeholders, internal audit, model validation, regulatory agencies and responding to their requests on a timely and accurate basis.
Required Experience:
2 -5 years of relevant experience at a financial institution or a consulting firm, preferably on a Quant/Data Science role in a data-rich environment
Preferably Master’s degree in a quantitative field such as Statistics, Mathematics, Operations Research, Economics, or Finance, or equivalent
Experienced in developing/validating credit risk - PD/LGD/EAD/Stress testing models
Experienced in provisioning as per IFRS9 implementation for banks
Proficiency in programming and Advanced Statistical Techniques– R/SAS/Python/Advanced excel
Analytical thinking, quantitative abilities and problem-solving skills
Understanding of risk management concepts like Stress-Testing, regulatory frameworks for Risk Management
Attention to detail and ability to prioritize projects and workload
Self-motivated team player who brings a “can-do” approach
Ability to work well under pressure in a fast-paced team-oriented environment
Strong communication skills; ability to present complex and technical issues clearly, both verbally and in writing
FRM/CFA certification or equivalent is a plus
About Us We’re OakNorth Bank and we embolden entrepreneurs to realise their ambitions, understand their markets, and apply data intelligence to everyday decisions to scale successfully at pace. Banking should be barrier-free. It’s a belief at our very core, inspired by our entrepreneurial spirit, driven by the unmet financial needs of millions, and delivered by our data-driven tools. And for those who love helping businesses thrive? Our savings accounts help diversify the high street and create new jobs, all while earning savers some of the highest interest on the market. But we go beyond finance, to empower our people, encourage professional growth and create an environment where everyone can thrive. We strive to create an inclusive and diverse workplace where people can be themselves and succeed. Our story OakNorth Bank was built on the foundations of frustrations with old-school banking. In 2005, when our founders tried to get capital for their data analytics company, the computer said ‘no’. Unfortunately, all major banks in the UK were using the same computer – and it was broken. Why was it so difficult for a profitable business with impressive cashflow, retained clients, and clear commercial success to get a loan? The industry was backward-looking and too focused on historic financials, rather than future potential. So, what if there was a bank, founded by entrepreneurs, for entrepreneurs? One that offered a dramatically better borrowing experience for businesses? No more what ifs, OakNorth Bank exists. For more information regarding our Privacy Policy and practices, please visit: https://oaknorth.co.uk/legal/privacy-notice/employees-and-visitors/
About Us
We’re OakNorth Bank and we embolden entrepreneurs to realise their ambitions, understand their markets, and apply data intelligence to everyday decisions to scale successfully at pace.
Banking should be barrier-free. It’s a belief at our very core, inspired by our entrepreneurial spirit, driven by the unmet financial needs of millions, and delivered by our data-driven tools.
And for those who love helping businesses thrive? Our savings accounts help diversify the high street and create new jobs, all while earning savers some of the highest interest on the market.
But we go beyond finance, to empower our people, encourage professional growth and create an environment where everyone can thrive. We strive to create an inclusive and diverse workplace where people can be themselves and succeed.
Our story
OakNorth Bank was built on the foundations of frustrations with old-school banking. In 2005, when our founders tried to get capital for their data analytics company, the computer said ‘no’. Unfortunately, all major banks in the UK were using the same computer – and it was broken.
Why was it so difficult for a profitable business with impressive cashflow, retained clients, and clear commercial success to get a loan?
The industry was backward-looking and too focused on historic financials, rather than future potential.
So, what if there was a bank, founded by entrepreneurs, for entrepreneurs? One that offered a dramatically better borrowing experience for businesses?
No more what ifs, OakNorth Bank exists.
