Departments London

Legal, Risk & Compliance Team

The Legal, Risk & Compliance team provides guidance, support and monitoring on regulatory and legal issues.

Legal Team

Provides expertise in consumer financial services law and commercial contract law. A broad understanding of consumer credit and general financial services law is necessary to provide advice, guidance and drafting on consumer terms, advertising and when advising on consumer complaints.

Operational Risk

Responsible for guiding and advising the business on managing operational risks. These include the non-financial risks that a bank has in providing its day-to-day service, and can range from IT security risks to general internal fraud risks.

Compliance

Responsible for guiding the business on regulatory requirements and monitoring compliance with those risks.

Credit Risk Team

The Credit Risk team sets policies on lending. The main objective is to support sustainable business growth by calculating the risks versus the benefits of lending activities, recommending the best way forward and overseeing the execution of these strategies.

Decision Science

Decision Science uses statistical modelling and analytical techniques to build the models that support key underwriting and targeting decisions. These models are used to decide whether or not to accept an application for credit, determine which customers should receive credit limit increases or decreases, and identify which potential customers to target with our marketing campaigns.

Customer Value Management

This crucial function sets the core lending policies across the business. This includes the decisions to approve or decline a new application, decisions to grant additional lending and set pricing levels appropriate to individual’s risk profile.

Management Information and List Generation

Key to managing Credit Risk effectively is having a detailed understanding of the performance of our strategies against our expectations, the economic environment we operate in and the behaviour of our customers. Delivering this knowledge to the team provides the understanding we need to steer strategies in the right direction and to keep looking forward, anticipating future events.

Marketing Team

The marketing team is responsible for developing and implementing the marketing strategies that drive new account acquisition, customer activation, balance build and customer retention.

We focus on:

Customer Acquisition

Our key channels are Direct Mail, Internet and Third Party Partnerships. We are also seeking to broaden the channel mix by testing press, magazines and door drops.

Customer Management

The Customer management team seeks to strengthen our relationship with our customers and motivating them to use their Vanquis Bank Credit Card as the first card in their wallet.

Product Development

Using customer insights and market information to enhance existing products and develop new ones, ensuring that our products and services continue to meet our customers’ needs.

Commercial Delivery

Commercial Delivery works closely with the Marketing, Credit and Business Development teams, to develop and deliver their ideas.

We work with them through the whole lifecycle of a project:

• Identifying solutions and to deliver the requirements
• Producing business cases to support initiation of the changes
• Working with both external and internal areas to scope and build solutions
• Co-ordinate delivery and testing of changes

Changes can range from small tactical tweaks to existing products through to such things as the launch of Internet Banking. Working in London, with direct and daily contact with the key sponsors lends itself to an exciting, diverse and challenging environment. The team relies on each other to pull together and share our experiences and skills.

Finance

The Finance department at Vanquis is responsible for a wide variety of tasks, which can be grouped into four separate areas:

Corporate Accounting

This area covers all the traditional areas of Finance such as payroll, tax matters, making sure our suppliers get paid and providing information to regulatory bodies such as the FSA

Settlement and Treasury

The Settlement and Treasury team keeps overall control of our customers’ cash movements and makes sure that the company’s funds are carefully managed.

Projects

Working with other areas of the bank to introduce new systems and processes as part of a continuous improvement programme.

Management Information (MI)

Providing directors and managers with the daily, weekly and ad hoc reports and analysis to enable them to run the business.

The company encourages study for professional qualifications and provides study packages to support CIMA, ACCA and AAT training.

If you are interested in a career working with Vanquis please view our current opportunities to view the latest vacancies.

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