Santander
Quantitative Analyst | S2 | Risk & Compliance | Milton Keynes
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Quantitative Analyst | S2 | Risk & Compliance | Milton Keynes
Quantitative Analyst | S2 | Risk & Compliance | Milton Keynes, United Kingdom
Santander (www.santander.com) is transforming into a technology-driven organisation where bold thinking and innovation are essential. We empower professionals to grow, learn and drive meaningful change—delivering a customer-centric transformation while maintaining a strong risk culture.
Retail & Commercial Banking integrates all global retail and commercial banking activities, improving efficiency and creating value for customers.
About the Role
Santander UK is looking for a Quantitative Analyst based in Milton Keynes, specialising in model development. The Retail Methodology Team is responsible for a diverse range of quantitative models, including:
- Mortgage, personal loan, account overdraft and credit card portfolios
- Credit decision-making and customer management models
- Regulatory and economic capital models (subject to CRR regulations)
- Provisioning models (subject to IFRS9 regulations)
- Stress testing forecasts
Our teams prioritise customer-centric innovation powered by cutting-edge technology, collaboration, and a commitment to challenging the status quo.
Key Responsibilities
As a Quantitative Analyst, you will:
- Independently deliver model development projects to deadlines, including:
- Writing detailed technical documentation for model methodologies
- Analysing model performance and assessing challenger models
- Ensuring regulatory compliance in model development
- Validating that models are fit for purpose in support of company strategy
- Presenting model developments to approval committees
- Monitoring performance of live (in-force) models
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What You’ll Bring
Professional Experience
- Adjacently in a statistical analysis, modelling, or banking role (Required)
- Proven statistical programming skills, ideally in SAS, SQL, R, or Python (Required)
- Experience producing technical documentation and written reports (Required)
- Awareness of regulatory compliance (e.g., Basel, IFRS9) (Preferred)
Education
- Degree in a quantitative field (Required)
Hard Skills
- Statistics: Familiarity with logistic regression, linear regression, time series analysis, and survival analysis (Required)
- Programming: Proficiency in SAS or Python (Required)
- Data: Experience handling large, complex datasets and ensuring data quality (Preferred)
- Risk Modelling: Experience with PD (probability of default), LGD (loss given default), or EAD (exposure at default) models (Preferred)
- Retail Banking Knowledge: Understanding of mortgages, personal loans, cards, overdrafts, and associated lifecycle data (Preferred)
Soft Skills
- Clear communication to explain complex concepts to non-technical teams (Required)
- Strong analytical reasoning and attention to detail (Required)
- Effective collaboration and adaptability (Required)
- Regulatory awareness: Understanding of UK/European regulatory frameworks (FCA, PRA, ECB) and model risk management (Preferred)
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What We Offer
Competitive Benefits
- £500 annual benefits allowance, including:
- 27 days’ holiday (28 days after 5 years), with the option to purchase up to 5 extra days
- Discounted healthcare (insurance, dental assessments)
- Pension contribution: £8% of salary automatically, with optional employer contributions
- Friendly insurance, critical illness, and claim support at premium rates
- Access to Santander products (e.g., Edge Current Accounts, Card offers) for employees
- Life stage support, including menopause, pregnancy, and flexible family provisions
- Wellbeing & talent: Free access to mentorship, training, and fitness discounts
- Volunteering opportunities and global career growth plans
Our Commitment to You
Santander is an equality and diversity partner, fostering a truly inclusive workplace while standing by transparency and accessibility. Roles are hybrid-based, requiring at least 12 in-office days/month (depending on experience).
Right to work: UK candidates must have the right authorization.
How to Apply
If you share our passion for innovation, impact, and risk management, we’d love to hear from you. Apply now or contact resourcing@santander.co.uk for support.
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