At UK Government Investments (UKGI), we create value for society from government’s most complex commercial interests. What we do is unique, and so are we. Wholly owned by HM Treasury (HMT), our team comprises c.150 experts who work together with Civil Servants to provide high quality corporate finance and corporate governance expertise to departments, advising in support of their policy objectives.

Working for UKGI provides a unique opportunity for talented individuals from the public and private sector to contribute to work of national importance. The work we do is challenging and fast-paced and is always significant in terms of social, economic, and political impact. Continuously interesting and often novel, our work spans sectors including: AI, defence, transport, energy security and space travel.

Within UKGI, we have undertaken a key advisory role in the most recent high-profile transactions involving government, including the return of NatWest group to the private sector, the acquisition of Royal Mail by IDS, the acquisition of OneWeb and subsequent merger with Eutelsat, the equity raise to fund the construction of Sizewell C nuclear plant and the re-acquisition of the Annington Homes estate. Our advice ranges from supporting companies in distress, responding to major private sector mergers and acquisitions, moving companies into public ownership and commercial negotiations.

About the team:

This role works across UKGI’s Financial Instruments and Transactions Advisory Group (FInTAG). FInTAG is an analytical and advisory function within UKGI that supports government departments and arm’s length bodies. The team provides trusted expert advice, portfolio-level analysis, and transparent reporting to help government better understand and manage its financial assets and liabilities. The team comprises of actuaries seconded from the Government Actuary’s Department (GAD), credit risk experts, policy professionals and portfolio and data analysts.

The role

UKGI is seeking to appoint a Credit Risk Analyst within the FInTAG Credit Risk team. This team is responsible for analysing the credit risk associated with financial guarantees and instruments provided by the government to the private sector.

The role will include work on credit risk modelling, stress testing and scenario analysis, and supporting assessments of capital needs and portfolios. You will also contribute in providing analytical input to the annual FInTAG reports on the government’s contingent liabilities and financial investments, including loan and equity portfolios.

The role will involve working closely with other team members across a number of work streams:

• To provide high-quality and timely analysis of the credit risk associated with proposed contingent liabilities, loans and equity investments, in order to support structuring, decision-making and reporting.
• To assess and report on the financial risks associated with contingent liabilities, loans and equity investments, including estimates of expected loss and to contribute to wider risk analysis.
• To support the development, review and application of credit risk models, to assess risks in government-supported transactions and portfolios.
• By contributing to analysis of capital needs, loss absorption and risk-bearing capacity, including consideration of how stress outcomes may affect broader fiscal risk.
• To build and maintain effective working relationships across government
• To promote the use of proportionate and robust analytical approaches across government to assess the financial impact of contingent liabilities, loans and equity investments.
• To contribute to the continued development of FInTAG’s analytical processes, tools and systems.
• You will be expected to support analysis, prepare written outputs, undertake modelling and stress testing work under supervision, and contribute to project delivery through strong technical execution and sound judgement.


About You

Essential criteria
• Have early-career relevant experience gained in a financial institution, rating agency, advisory firm or the public sector, with exposure to credit analysis, financial modelling or quantitative risk assessment.
• Experience of credit risk analysis relating to financial instruments such as loans, guarantees or other credit exposures, gained across a range of sectors.
• Ability to produce clear, concise and well-structured written advice for technical and non-technical audiences.
• Ability to work effectively with incomplete data or uncertainty, applying sound judgement and proportionate analysis.
• Experience of developing, reviewing or applying credit risk models (PD, LGD and EAD, pricing of financial instruments), including interpreting assumptions, outputs and limitations to support decision-making.
• Experience of stress testing, sensitivity analysis or scenario modelling
• Ability to interpret outputs critically, challenge assumptions appropriately, and explain quantitative findings clearly to business stakeholders.
• Strong communication and interpersonal skills, with the ability to build effective working relationships across teams and stakeholders.
• A collaborative, inclusive and delivery-focused approach, with strong problem-solving capability and attention to detail.
• Expected to demonstrate strong technical capability, effective prioritisation and a willingness to develop judgement through experience and feedback.

Desirable criteria
• Awareness of capital assessment concepts, including the ability to support analysis of capital needs, loss absorption and risk capacity in relation to credit exposures.
• Understanding of the relationship between credit risk, provisioning, capital needs and broader financial resilience.
• Project Management and planning and stakeholder management.

Diversity statement:

UKGI has a strong commitment to equality and diversity. Our aim is to be an open and inclusive organisation, recruiting and retaining diverse, talented and high-performing people who support and develop one another.

UKGI is a Disability Confident Employer. This means we’ve been recognised as an employer which is confident and leading the way in recruiting and retaining staff with disabilities. We will offer an interview to any applicants with a disability who have indicated they wish to take part in the disability confident scheme, provided they meet the essential criteria for the post set out in the person specification. If you need any reasonable adjustments to take part in the selection process, please tell us about this in your application.

UKGI is also part of the ‘Great Place to Work for Veterans’ initiative. This means that as part of our commitment to diversity and equality in our recruitment and retention policy, we will offer an interview to any eligible applicants from His Majesty’s Armed Forces provided they meet the essential criteria for the post set out in the person specification. Please indicate on your application that you wish for your application to be considered as part of this initiative.

In line with company policy, we will be employing a hybrid working model based, with 40% of your time being home-based. At UKGI we place a high degree of value on work life balance and as such applications from individuals seeking flexible working, reduced hours contracts and job shares are also actively encouraged.

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