Mortgage Product Analyst

Vida Bank; United Kingdom; On-site; GBP 30,000 - 60,000; Full time

Job description

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Vida Bank provides competitive savings products through Vida Savings and specialist mortgage solutions through Vida Homeloans.

Our mortgage business supports Buy to Let (BTL) and residential borrowers (ROO) who find themselves underserved elsewhere. Our mortgage customers range from Buy to Let investors to the self-employed and customers with multiple jobs.

Our savings proposition is delivered online via our website and is focused on providing savers with fair, transparent, and competitive rates. Our typical customers are active savers who tend to look beyond their current account provider for savings accounts.

Our business model and strategy are underpinned by our core purpose to Help More People Find a Place to call Home.

We are here to help the under-served, especially those with more nuanced personal circumstances or borrowing needs who are not able to access a mortgage from a mainstream mortgage lender. Working exclusively with intermediary partners, we combine cutting-edge technology with skilled and caring underwriting expertise to solve complex customer problems.

As a fully regulated UK-based bank with ambitious growth aspirations, we recognize the importance of having a clearly articulated culture strategy and the need to actively manage how it embeds in the business together with the behaviors that exemplify it.

As a recognized Best Companies Top 100 mid-sized company to work for in the UK and a finalist at the Financial Reporter Women’s Recognition Awards, we take pride in our diverse workforce, championing both ethnic and gender diversity through our EDI commitments.

Having met the target set by being a member of the HM Treasury Women in Finance Charter, we have 50% of senior management roles filled by women.

With offices in London, Newcastle, and Skipton, we bring our teams together regularly to collaborate and empower our colleagues to have more choice around when and where they work on the days they are not in the office, with colleagues working remotely in various locations across the UK.

Our Culture

We are proud to have built a culture founded on an ethos of caring, which sits at the heart of our Vida Values, driving the way we run our business, support our customers, and other stakeholders on a daily basis.

By Joining Vida, you will have a sense of belonging in what is a diverse and collaborative environment, where you will be empowered to take responsibility for driving delivery.

We embrace a diversity of backgrounds and experiences in our people, in the deeply held belief that better outcomes are achieved for customers when our colleagues are better placed to empathize with and understand their unique circumstances. From application to interview, we place inclusion at the heart of all we do.

Role Overview:

The Product Analyst will support the development and delivery of the pricing of our mortgage products for both new and existing customers, helping to ensure that the pricing is designed to deliver the appropriate balance between volumes, returns, and credit risk whilst ensuring good and fair customer outcomes are achieved.

Ongoing monitoring and analysis of trading performance against both plan and external market factors and competitors.

This is a key role in a small and flexible proposition, product, and pricing function, with strong working relationships essential across Sales, Commercial, Marketing, Credit risk, IT, Change, and Operations through the development and delivery of new propositions.

Key Responsibilities:

• Assist with the monitoring, reporting, and assessment of ongoing trading performance against business targets, mortgage credit risk limits, and funding requirements.
• Ensure the maintenance of accurate and up-to-date competitor and market analysis, with changes flagged promptly to help mitigate performance deterioration.
• Use Excel knowledge to automate and simplify where possible.
• Support the Senior Commercial Manager with the recommendation of all new, retention, and revert rate pricing across the mortgage product range, helping to identify opportunities to improve yield and return on equity.
• Help to ensure that mortgage pricing proposals reflect the prevailing market environment and are designed to achieve target company volume and spread targets, whilst delivering fair customer outcomes and meeting all regulatory requirements.
• Assist with the assessment of customer outcomes relating to the provision of good and fair value both at the point of acquisition and throughout the customer’s holding period.
• Utilize the pricing model as part of all pricing recommendations, analyzing outcomes, and adapting proposals as required.
• Assist with the drafting of pricing proposals ensuring they are both accurate and to a high standard.
• Develop an understanding of pricing elasticity across the BTL and Residential specialist mortgage market segment to help drive robust pricing proposals.
• Support the Commercial Planning and Forecasting processes. Work with Finance to ensure targets are challenging but realistic.
• Assist with the production of forecast forward business flows (applications, offers, completions, retention, redemptions) to support hedging and liquidity.
• Engage with Treasury, specifically around product mix and tranche management.
• Engage with Finance on the development and enhancement of the pricing model.
• Where required, support the end-to-end delivery of the implementation of pricing changes and the associated product withdrawals and launches.
• Link up with peers and other departments (e.g. MI, operations, risk, treasury) to aggregate information to help improve and deliver better management information and reports. Drive the product team MI.
• Build constructive partnerships across the business.
• Source, review and aggregate intermediary, market, competitor, and economic data to translate this into actionable insights.
• Assist in the review of the product ranges to ensure they remain fit for purpose, meet customer needs, regulatory compliance, and still achieve key business metrics and expected performance.
• Active involvement in Senior Commercial Manager duties as an option to expand role and develop further.
• Where required, cover or assist the Senior Commercial Manager.

Requirements:

• Numerate, accurate and analytical with significant attention to detail.
• Good communicator, both written and verbal.
• Experience preferred of working within a similar role previously within mortgages / Financial Services.
• Very strong Excel skills.
• Structured and organized.
• Experience of using PowerPoint and Word.
• Takes responsibility to initiate change where required and can take other stakeholders with them.
• Communicates in a constructive, friendly, and positive manner that demonstrates respect and sets an example to all.
• Anticipates trends in both the internal & external environment and can identify a range of opportunities and strategies in response to these.
• Encourages a culture where high standards of performance, timely delivery, 100% accuracy, an appropriate sense of urgency, and quality is expected and rewarded.
• Fosters and openly champions a culture of exceptional customer care and focuses on a positive internal & external customer experience.

Our Values

Our values are well established and recognized throughout our organization. They provide a frame of reference for the behaviors expected from our colleagues every day.

We find ways to break old conventions, especially those which cause exclusion or customer harm. We look for these qualities when hiring new talent into the organization, and they underpin our approach to personal development and performance management for all our people. At the heart of this is the fact we care about our Customers, Our Colleagues, and our Communities. We are:

Visionary - We innovate and break old habits, thinking big and pushing boundaries together as one team.

Inclusive - We value each other’s differences and work to see people for who they really are.

Dynamic - We are flexible and fast, cutting through complexity and never accepting second best.

Authentic - We are honest and genuine; what you see is what you get.

We offer a comprehensive benefits package to support our employees’ professional and personal needs. Further details can be provided upon application.

Seniority level

Not Applicable

Employment type

Full-time

Job function

Product Management

Industries - Banking and Financial Services

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