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
Country: United Kingdom IT STARTS HERE | Santander
Santander 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 driving a customer-centric transformation that values bold thinking, innovation, and the courage to challenge what’s possible.
About the Role
Santander UK is seeking a Quantitative Analyst based in Milton Keynes. Within the Model Development function, there are three specialized teams:
- Retail Credit
- Corporate Credit
- Non-Credit
The Retail Methodology Team has a diverse portfolio, covering models for:
- Mortgage
- Personal loan
- Bank account overdraft
- Credit card portfolios
Their scope includes models used for:
- Credit decisions and customer management
- Calculation of Regulatory and Economic Capital (subject to CRR regulations)
- Provisions (subject to IFRS9 regulations)
- Stress Testing forecasts
Responsibilities
To succeed in this role, you will be responsible for delivering model development projects independently and on time. Key responsibilities include:
- Writing technical documentation that clearly outlines model development approaches
- Analyzing model performance and benchmarking against challenger models
- Ensuring models meet regulatory compliance requirements
- Confirming models are fit for purpose in alignment with business goals
- Presenting findings to approval committees
- Monitoring performance of in-force models
Requirements
Professional Experience
- A proven track record of delivering statistically challenging projects, preferably within a banking environment (required)
- Strong ability to conduct analyses in coding environments including SAS, SQL, R, or Python (required)
- Experience with technical documentation and producing accessible written reports for diverse audiences (required)
- Background or appreciation of regulatory compliance frameworks (e.g., Basel, IFRS9) (preferred)
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Education
- Degree in quantitative discipline (required).
Hard Skills
- Statistics: Expertise in logistic regression, linear regression, time series analysis, and survival analysis (required)
- Programming: Fluent in statistical programming, particularly SAS or Python (required)
- Data Handling: Experience with large, complex datasets and ensuring data integrity (preferred)
- Modelling: Experience in developing or validating PD (Probability of Default), LGD (Loss Given Default), or EAD (Exposure at Default) models (preferred)
- Retail Banking: Knowledge of products like mortgages, loans, credit cards, and overdrafts, alongside their data and credit lifecycle (preferred)
Soft Skills
- Communication: Exceptional written and verbal communication for describing technical concepts to non-technical stakeholders (required)
- Analytical Rigour: Strong critical thinking, problem-solving, and attention to detail (required), along with regulatory mindset (preferred)
- Collaboration: Ability to work effectively in a team environment (required)
- Regulatory Awareness: Knowledge of the UK/EU regulatory landscape (FCA, PRA, ECB) and the significance of governance, and model risk management (preferred)
Benefits
At Santander, your impact shapes our collective success. Our value proposition extends beyond compensation, focusing on:
💵 One-off Recruitment Bonus: £500 allowance across our extensive benefit suite tailored to your needs.
👛 Holiday Entitlement:
- 27 days + public holidays that grow to 28 days after 5 years of service
- Purchase up to five additional contractual days per year
🏥 Healthcare & Wellbeing:
- Access to voluntary enhanced medical, dental, health assessments
- Self-managed pension contribution (5-12.5% of salary) with prefilms paid-pension matching
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♾ Life Protection:
- Company-funded death-in-service benefit and income protection insurance plus discounted rates for additional cover
💼 Employee Share Schemes: Opportunity to benefit from Santander’s long-term growth via share plans.
🔒 Product Amenities:
- Access to santander.co.uk staff accounts ( Zero-fee bank accounts, discounts on cards and deals, etc.)
🤝 Long-Term Recognitions & Rewards:
- Projects designed with bonus structures, reflecting transparency and value delivered.
🌱 Wellbeing support: Mental, physical, social and financial enrichment tools—for a holistic lifestyle.
👨👩👧👦 Family Support: Enhanced parental leave, childcare options, menopause/pregnancy care, and tailored risk programs
🤝 Positive Impact:
- Volunteering programmes enabling community-level contributions.
🌐 Global Career Development:
- Mobility across Santander’s international network with expansion opportunities both locally and globally.
Local Compliance
- Inclusivity: Equal opportunities regardless of age, gender, disability, marital status, race, religion, or sexual orientation.
- Office Attendance: Hybrid working pattern where employees typically attend the office 12 days per month (pro-rata for part-time roles). Applicants must carefully consider the practicality of travel from their location.
- Employment Eligibility: Canditates must legally work in the UK to commence employment.
How to Apply
If this opportunity excites you, we’d love to hear from you.
Kindly get in touch via the recruiters at resourcing@santander.co.uk to request:
- Application forms in different accessible formats
- Additional assistance
#LI-DNI
The Santander Effect
Impact: Every day, our work touches 140 million lives. Through innovation, global collaboration, adaptive challenges and a belief in evolving for the future, even the smallest actions in this cause result in a massive difference—drive that is known as The Santander Effect.
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