Quantitative Analyst | S2 | Risk & Compliance | Milton Keynes
Country: United Kingdom
IT STARTS HERE
Santander ( www.santander.com ) is evolving from a global, high-impact brand into a technology-driven organisation , and our people are at the heart of this journey. Together , we are driving a customer-centric transformation that values bold thinking, innovation , and the courage to challenge what’s possible.
This is more than a strategic shift. It’s a chance for driven professionals to grow, learn, and make a real difference .
Our mission is to contribute to help more people and businesses prosper . We embrace a strong risk culture and all our professionals at all levels are expected to take a proactive and responsible approach toward risk management.
Retail & Commercial Banking is a global business integrating all our retail and commercial banking activities to better serve our customers, improve efficiency and drive value creation.
THE DIFFERENCE YOU MAKE
Santander UK is looking for a quantitative analyst based out of Milton Keynes .
Within Model development there are 3 model development teams; retail credit, corporate credit, and non-credit.
The Retail Methodology Team has a diverse remit covering (but not limited to):
Models used on mortgage, personal loan, bank account overdraft and credit card portfolios.
Models used in credit decisions and customer management.
Models used to calculate Regulatory and Economic Capital, which are subject to subject to CRR regulations.
Models used to calculate Provisions, which are subject to subject to IFRS9 regulations.
Models used to generate Stress Testing forecasts.
Our people are passionate about truly listening to our customers to make banking more simple, personal and fair. And change like that doesn’t happen unless we all speak up with new ideas and challenge things that could be better. That’s why we’ve built a culture of respect, where everyone supports each other to keep their promises and go above-and-beyond – every day.
We’re shaping the way we work through innovation, cutting-edge technology, collaboration and the freedom to explore new ideas. To succeed in this role, you will be responsible for:
Working independently to deliver model development projects to deadlines which will include:
Writing technical documentation describing the model development in detail;
Analysing the performance of the new model and any challenger models;
Assessing adherence to the relevant regulatory environment;
Ensuring that models are fit for purpose in accordance with company strategy and aims;
Presenting the model development to approval committees;
Monitoring model performance for in-force models
WHAT YOU’LL BRING
Our people are our greatest strength. Every individual contributes unique perspectives that make us stronger as a team and as an organisation. We’re enabling teams to go beyond by valuing who they are and empowering what they bring.
The following requirements represent the knowledge, skills, and abilities essential for success in this role. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Professional Experience:
Track record of successful delivery in a statistical analysis or modelling role, preferably in a Banking environment (Required)
Proven ability of conducting statistical analysis in a coding environment such as SAS, SQL, R or Python (Required)
Experience of interpreting technical documentation and producing written reports which convey technical information in an accessible manner, targeted to specific audiences (Required)
Appreciation/knowledge of regulatory compliance requirements such as Basel or IFRS9 (Preferred)
Education:
Hard Skills:
Statistics: Knowledge of statistical techniques such as logistic regression, linear regression, time series analysis, and survival analysis (Required)
Programming: Proficiency in statistical programming languages such as SAS or Python (Required)
Data: Experience with large, complex datasets and ensuring data quality (Preferred)
Modelling: Experience developing or validating PD (probability of default), LGD (loss given default) or EAD (exposure given default) models (Preferred)
Retail banking : Knowledge of retail banking products (e.g. mortgages, loans, credit cards, overdrafts) and the retail credit product lifecycle and associated data (Preferred)
Soft Skills:
Communication: Excellent written and verbal communication skills to articulate complex technical concepts to non-technical stakeholders (Required)
Analytical rigour: Good critical thinking, problem-solving abilities and attention to detail (Required)
Collaboration: Effective teamwork and adaptability (Required)
Regulatory focus: Good understanding of the UK and European regulatory environment (FCA/PRA/ECB) and the importance of governance and model risk management (Preferred)
WE VALUE YOUR IMPACT
At Santander, your contribution matters. We recognise the difference you make every day, and we make sure you feel valued, supported and rewarded in return.
Here, recognition goes beyond pay. It’s about the pride you feel in your work, the impact you have on customers and communities, and the opportunities you have to grow and thrive — personally and professionally.
£500 annual cash allowance to spend on our great range of benefits.
27 days’ holiday plus bank holidays, which increases to 28 days after 5yrs service, with the option to purchase up to 5 contractual days per year.
Voluntary healthcare benefits at discounted rates. Including: medical insurance, dental insurance, and health assessments
We put 8% of salary into your pension, even if you don’t contribute yourself. We’ll pay in up to 12.5% of salary, if you contribute as well, and you can take some of our contribution in cash if you prefer.
Protection for you and your family, with company-funded death-in-service benefit and income protection insurance, and the option to take advantage of discounted rates for additional life assurance and critical illness cover.
Share in Santander’s success by saving or investing in our share plans.
As a Santander UK employee, you are able to request staff versions of our products like our Edge Current Accounts and Credit Cards with no fees, as well as apply to many other deals and discounts in Santander products and services
Competitive rewards that reflect the real impact you make and the value you bring.
Wellbeing that goes beyond work — we work with a range of wellbeing partners across our 4 pillars of wellbeing (physical, mental, social and financial) to give you access to a suite of apps, discounted gym and fitness access, weekly online classes, flexible healthcare and mental health support.
Support for every life stage — from menopause and pregnancy to parenthood and beyond, with enhanced family leave, childcare options and tailored wellbeing support.
Time to give back through volunteering opportunities that let you make a difference in the communities we serve.
Global growth opportunities to shape your career, learn new skills and explore what’s possible across our international network.
Ready to be recognised? It starts with you.
LOCAL COMPLIANCE
At Santander, we’re proud to be an inclusive organisation that provides equal opportunities for everyone — regardless of age, gender, disability, civil status, race, religion or sexual orientation.
We’re committed to creating a recruitment experience that’s accessible, fair and welcoming for all candidates.
We want our people to thrive — at work and at home — while delivering the best outcomes for our customers and supporting each other to grow.
To make this possible, our roles are site-based with a hybrid working pattern , where colleagues are expected to attend the office at least 12 days per month (pro-rata for part-time roles).
When applying, please consider the travel distance, time and cost to your chosen office location(s).
Right to work in the UK
WHAT TO DO NEXT
If this sounds like a role you are interested in, then please apply.
If there’s anything we can do in the recruitment process to help you achieve your best, get in touch. Whether it’s a copy of our application form in another format or additional assistance, we’re available through email. You can contact us at [email protected] .
#LI-DNI
