UK Government Investments (UKGI)
Credit Analyst - FInTAG
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Credit Risk Analyst – Financial Instruments & Transactions Advisory Group (FInTAG)
About UK Government Investments
At UK Government Investments (UKGI), we create value for society from the UK’s most complex commercial interests. As a wholly-owned subsidiary of HM Treasury, we provide corporate finance and governance expertise to government departments, advising on policy objectives across sectors including AI, defence, transport, energy security and space travel.
Recent high-profile engagements have included:
- The return of NatWest Group to the private sector
- Acquisition of Royal Mail by IDS
- OneWeb merger with Eutelsat
- Equity raise for Sizewell C nuclear plant
- Annington Homes re-acquisition
Our small yet high-impact team of ~150 experts collaborates with Civil Servants to deliver work of national significance, combining fast-paced challenge with meaningful socioeconomic and political outcomes.
About the Team – Financial Instruments & Transactions Advisory Group (FInTAG)
You will join UKGI’s FInTAG (Financial Instruments and Transactions Advisory Group), an analytical advisory function supporting government departments and arm’s length bodies. The FInTAG Credit Risk team provides expert advice by:
- Analysing portfolio-level financial risks (contingent liabilities, loans, equity)
- Modelling and stress-testing credit exposure to public sector interventions
- Secondary legislation scrutiny for financial liabilities
- Capital needs and loss absorption analysis
The team comprises: ✔ Actuaries (seconded from the Government Actuary’s Department) ✔ Credit risk experts (rating agency and bank experience) ✔ Portfolio and data analysts ✔ Policy professionals
With a shared mission to support governments’ financial management decisions—with a focus on national value creation.
The Role: Credit Risk Analyst
This role focuses on the credit risk associated with government financial guarantees, loans, and equity investments to the private sector. You will:
- Develop and apply cutting-edge credit risk models (including PD, LGD, EAD)
- Perform stress tests and scenario analysis to assess capital requirements
- Advise on financial risk structures for government-backed transactions
- Collaborate with teams across work streams to provide portfolio-level analysis
- Draft analytical reports for government oversight on contingent liabilities and investments
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Key Responsibilities
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Credit Risk Assessment
- Evaluate contingent liabilities, loans, and equity exposures for government interventions.
- Assess probability of default (PD), loss given default (LGD), exposure at default (EAD), and anticipated recovery timelines.
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Risk Modelling & Stress Testing
- Improve or implement credit risk models tailored to government-supported portfolios.
- Execute severity and baseline macroeconomic stress testing to anticipate fiscal risk impacts.
- Support Capital Needs analysis by quantifying possible loss absorbency scenarios.
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Reporting & Decision Support
- Present clear, actionable analysis for non-technical and technical stakeholders.
- Support annual UKGI reports on financial investments and financial risks to the Treasury.
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Collaboration & Technical Excellence
- Partner with actuaries, policy analysts, and public sector colleagues across departments.
- Promote proportionate, transparent analytical approaches for government decision-making.
- Work-product focus: Modelling, stress testing, construction of ad-hoc risk assessments—expect technical precision and sound judgment under supervision.
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Continuous Improvement
- Help develop FInTAG’s processes, tools, and research methodologies.
About You
Essential Requirements
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Early-career experience in:
- Finance (investment banks, rating agencies, and consultancies)
- Public sector (Massey Department or equivalent) with relevant financial expertise.
- Credit analysis, financial modelling or quantitative risk assessment.
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Sector exposure: Experience with loans, guarantees, or other credit products (e.g., venture capital, corporate bond架构).
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Analytical writing skills: Ability to synthesise complex findings into clear, structured advice for business-wide distribution.
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Sound judgment under uncertainty: Comfortable working with incomplete data and threshhold assumptions.
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Model development: Proficiency with credit risk modelling tools (regulatory PD, LGD, or commercial financial modelling).
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Stress testing sensitivity: Experience with scenario modelling, risk decomposition or ignoring forecasts.
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Effective communication: Ability to vote assumptions and model outputs to excluding audiences (stakeholders: senior policymakers to strategic analysts).
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Collaborative mindset: Strong interpersonal skills; will build cross-team relationships at Government level.
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Desirable Criteria (but not required)
- Capital assessment knowledge: Understanding of provisioning’s effect on risk-bearing capacity.
- Project management experience: Ability to manage time-sensitive multi-party tasks under government deadlines.
- Specialised exposure: Some familiarity with government-backed NPLs (Non-Performing Loans) or data-driven risk calibration.
Diversity, Equality and Inclusion Statement
At UKGI, we strive to be an open and inclusive employer. This includes:
🔹 Disability Confident Commitment: Hiring those who self-identify with disabilities, provided they meet the essential criteria. ✋ Interview Guarantee: Any applicant eligible for the disability adjustment scheme will be considered for an interview.
🏛️ Veteran-Friendly Environment: We actively recruit from His Majesty’s Armed Forces, offering interview eligibility if the criteria are met—simply flag this in your application.
📈 Flexible Work Culture: A hybrid model (40% on-site required) allows for tailored arrangements including flexible hours and job share opportunities.
No matter your background, if you meet the essential requirements, we encourage you to apply. We welcome diversity of thought, and view every candidate equally. Let’s build a UKGI team where everyone thrives.
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