Senior Risk Manager

Who are 118118 Money? At 118 118 Money, we are dedicated to helping Britain achieve financial fitness. In 2023, we proudly relaunched the iconic 118 118 twins, reaffirming our commitment to improving the financial health of individuals across the nation. Our loans and credit cards are designed specifically for those often overlooked by mainstream lenders, empowering over 800,000 customers on their journey to better financial well-being. Our vision is to champion financial fitness throughout Britain by offering accessible products, valuable resources, and unwavering support. We are on a mission to provide fair and transparent credit solutions that promote financial well-being for all. With an impressive 4.8 Trustpilot rating, we take pride in being an approachable lender, ready to provide clear financial support. If you're inspired by what you've read and want to make a real difference in people's lives, keep reading—your next opportunity to contribute to our mission could be just a few clicks away! What you'll do We are looking for an experienced Senior Risk Manager to support our Risk function. This is a hands on role focused on 2nd line risk oversight, with a particular emphasis on model risk and model governance. The role will suit someone with strong experience in consumer credit or fintech, with deep exposure to credit risk models, alongside broader enterprise risk management experience. As a growing and dynamic business, we are looking for someone who can apply pragmatic, proportionate risk management, balancing strong governance with commercial reality. Key responsibilities:

• Provide independent 2nd line oversight and challenge of credit risk, models and model governance across the business
• Oversee and enhance the model risk framework, including governance, validation, and controls
• Review and challenge credit risk models and model outputs, including new models, model changes and ongoing performance monitoring
• Identify gaps in model risk and risk governance frameworks and implement pragmatic improvements
• Support the ongoing delivery of the Enterprise Risk Management framework
• Prepare model risk reporting and contribute to wider credit risk reporting for senior governance forums
• Support monitoring of risk appetite, including escalation of key issues
• Support scenario analysis and stress testing activities where required
• Participate in risk and model governance forums and committees
• Identify emerging risks, including those related to models and new technologies (e.g. AI)
• Work closely with model owners and stakeholders across the business to promote strong risk practices Who you are
• Pragmatic and commercially minded, able to apply proportionate risk management rather than overly theoretical approaches
• Comfortable operating in a dynamic, evolving environment (not a large bank structure)
• Hands on and delivery-focused, with a willingness to “roll sleeves up”
• Proactive and able to take ownership of work independently
• Strong analytical and problem-solving skills
• Collaborative and team oriented approach
• Confident in providing effective challenge in a constructive way What you'll need Required:
• Strong experience in model risk oversight and model governance (essential)
• Proven experience in 2nd line risk (essential)
• Background in consumer credit and/or fintech (essential)
• Experience with credit risk models (development, validation, oversight) (essential)
• Strong analytical capability, with the ability to interpret complex models and translate insights into practical actions
• Able to quickly understand complex problems and apply sound, proportionate judgement
• Ability to operate effectively in a hands-on, fast-paced environment
• Excellent stakeholder management and communication skills
• Demonstrable experience in a Senior Risk Manager, Risk Manager or equivalent role
• Strong understanding of risk frameworks, governance and FCA regulatory expectations and of model risk standards such as PRA SS1/23 Desirable:
• Degree in a quantitative or analytical discipline (e.g. Mathematics, Economics, Finance, Engineering or similar)
• Exposure to AI or machine learning models
• Experience in stress testing or scenario analysis
• Experience in scaling or high-growth organisations
• Broader experience across enterprise risk management What's in it for you?
• A competitive salary
• Flexible, hybrid working opportunities.
• Company bonus scheme - if the business does well, you should get rewarded for your hard work.
• 25 days annual leave, (plus bank holidays) increasing to 27 after two years service and 30 after five.
• Company pension scheme – we provide an enhanced pension scheme with generous employer contributions to set you up for the future which includes life cover of 4x your base salary.
• Eye test – you can claim a freebie each year, or if your needs change.
• Employee Assistance Programme - we offer membership to a recognised scheme to support you and your wellbeing.
• A strong ethos of equality, diversity, and inclusion.
• Wide business exposure, in terms of business disciplines, projects and stakeholders.
• Direct contribution to business transformation and growth.
• Huge learning and career progression opportunities.
• Being valued as an individual from our team.
• Full training, support and mentoring to develop a successful career in financial services. Like what you've heard? Great - apply now! As a candidate, we know the interview process can be daunting and it's important that you have a great experience with us. We will do all we can to make sure you are fully informed and excited by our story so we get to see the best from you. If you need any adjustments made to help you with the interview process, just let us know by emailing claire.hinson@118118money.com and we'll do our best to accommodate them. Following your application, we will want to learn more about you, your motivations, experiences and values. In turn, you get to learn about our business, our culture, the role and what we can offer you.

At 118 118 Money we are passionate about equality, diversity, and inclusion. We are committed to being representative of different cultures, background, lifestyles, and groups, where everyone has an equal chance to succeed. It is our policy to treat everyone fairly and to ensure no one is disadvantaged or receives less favourable treatment. We recognise that everyone has different needs and while we can't accommodate every flexible working request we are more than happy to have a conversation about it. How we handle your data 118 118 Money requires your personal data to process your application for a position within our Company. If your application is successful through to telephone screening/interview, and you are not selected for a role, we may store your personal data for 12 months to enable our HR team to contact you should future roles be advertised. Where you apply, but are not selected for telephone screening/interview, we will delete your personal data once the position is filled. 118 118 Money does not use automated decisioning or profiling when selecting candidates. For your rights under GDPR please see our Privacy Policy. Please be aware that should we pursue your application, all our Financial Services employees will be expected to complete background checks to assess suitability for employment, these include; a criminal record, identity, sanctions, adverse finance, fraud prevention and reference checks to comply with our regulatory requirements.