Atom Bank • Remote/Durham

Model Validation Analyst

Employment type:  Full time
Salary:  £50000 - £70000 per annum


A little flex time

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Job Description

What’s it all about?

The Risk team is made up of Operational Risk, Compliance, Financial Risk and Credit Risk. Our Money Laundering Reporting Officer also sits within this department. Risk is a crucial second line of defence for the bank — it has oversight of the risks associated with running the business and manages them effectively.

You will assist the Lead Model Validation Manager in the delivery of model validation. In addition, you will play a role in Atom’s aspiration towards A-IRB waiver.

Atom aims to use data, insight, and technology to provide superior products and services to customers. This role is essential in ensuring that the use of models and data allows Atom to fulfil that objective.

You'll play an essential role in ensuring that model and data oversight is robust as Atom pursues one of the most highly coveted designation, an A-IRB waiver. In doing so, Atom aspires to demonstrate that it implements standards suitable for a bank of its size and complexity to all aspects of data and model driven decision making.

What will your ‘typical’ day look like…. (Different that’s for sure):

Reporting to the Lead Model Validation Manager, the holder of this role will:

  • Support independent validation of credit risk models (A-IRB models, IFRS9, Loss forecast models and Scorecards)
  • Review numerical implementation of model design choices and assumptions
  • Review and validate any external data used in internal models
  • Ensure models are validated in line with UK regulatory requirements
  • Prototyping challenger models to strengthen independent validation outcomes when appropriate
  • Support the validation of other models as required, such as finance, pricing, and treasury.
  • Conduct / support reviews of Atom’s data infrastructure.
  • Track and provide oversight of remediation activities of validation findings
  • Make recommendations on risk appetite metrics, limits and KRIs feeding into management and governance reporting

What do we need from you?

  • Degree in a numerate discipline with a high degree of statistics or comparable qualification.
  • Model validation experience in the UK financial services sector in credit risk modelling
  • Specific experience of developing or validating A-IRB and IFRS9 models for UK residential mortgages
  • Reviewing numerical implementation of model methodologies and assumptions
  • Experience of data analysis tools, such as R or similar
  • Working knowledge of statistics and econometrics

Company benefits

Open to part-time employees
Open to job sharing
Open to compressed hours
Four day week
Enhanced maternity leave
Enhanced paternity leave
Adoption leave
Shared parental leave
22.5 days annual leave + bank holidays
Teambuilding days

We asked employees of Atom Bank how satisfied they were with flexible working, and this is what they told us

Employees are very happy with their working location freedom
Employees are very happy with the flexibility in the hours they work
Employees are largely happy with the benefits their company offers
Work-life balance
Employees feel that they can switch off quite easily from work
Role modelling
Employees feel that most people work flexibly
Employees feel they have complete autonomy over getting their work done
Working at Atom Bank

Company employees


Gender diversity (male:female)


Office locations

Durham & London

Funding levels

What employees are saying

"We have a four day working week that has transformed my home life. In particular the flexibility I now have to support my youngest daughter. I have been able to support her more with school activities and just generally taking her to school on my non working day already, than I was ever able to with my eldest daughter"

Atom Bank Employee