Quantitative Analyst | S2 | Risk Retail Methodology | Milton Keynes | Internal Mobility

Quantitative Analyst | S2 | Risk Retail Methodology | Milton Keynes | Internal Mobility

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

Retail Methodology, within Risk and Compliance, is looking for a Quantitative Analyst based out of Milton Keynes.

We currently have an exciting opportunity for a Quantitative Analyst to be part of the Retail Methodology Team within Treasury Risk & Analytics. The opportunity is to join the Retail Mortgage team as an analyst, working on IRB capital models, scorecards, IFRS 9 provision models and stress-testing models.

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 agreed deadlines, including:

• Writing methodology and technical documentation describing model development to a level of detail that allows a third party to replicate the work.
• 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.

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)
• Experience of interpreting technical documentation and producing written reports which convey technical information in an accessible manner, targeted to specific audiences (Required)
• Experience developing or validating PD (probability of default), LGD (loss given default) or EAD (exposure given default) models (Preferred)
• Knowledge of retail banking products (e.g. mortgages, loans, credit cards and overdrafts), the retail credit product lifecycle and associated data (Preferred)
• Appreciation/knowledge of regulatory compliance requirements such as Basel or IFRS9 (Preferred)

Education:

• Degree level education in a quantitative field (Required)

Hard Skills:

• Proven ability to conduct statistical analysis using SAS, SQL, R or Python (Required)
• Knowledge of statistical techniques such as logistic and linear regression (Required)
• Experience with large, complex datasets and ensuring data quality (Preferred)

Soft Skills:

• Excellent written and verbal communication skills to articulate complex technical concepts to non-technical stakeholders (Required)
• Solid critical-thinking and problem-solving abilities, with excellent attention to detail (Required)
• Effective teamwork and adaptability (Required)
• 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.

• 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.

IMPORTANT INFORMATION FOR INTERNAL APPLICANTS:

PERMANENT ROLES:

• If you are currently employed by Santander UK plc on TSB Legacy terms or by TSB and choose to apply for this Santander vacancy, please be aware that, if successful, you will move onto full Santander terms and conditions of employment and will no longer be part of the TSB Legacy population with effect from the start date of your new role.

WHAT TO DO NEXT

If this sounds like a role you are interested in, then please apply.

For further Guidance please visit Internal Mobility - Candidate Guidance.

If you want to know more about the opportunity:

Please contact Bradley Jackson - bradley.jackson@santander.co.uk

#LI-DNI