Job Description
About us
More than ever before, borrowers need a lender that will react and respond when they are faced with financial complexity. Vida is the mortgage lending specialist with a clear focus on helping more customers in their home ownership journey, unravelling complex situations, and making the process clear and simple.
Working exclusively with expert intermediary partners, Vida combines cutting-edge technology with skilled and caring people to deliver an efficient and differentiated customer experience. With over 11,000 customers we have lent over £2.1bn since our launch in 2015, but we want to do more. By continuing to invest in technology, people, and process to ensure we deliver a market leading proposition that helps more people with a wider range of home buying needs.
We are flexible and efficient; we cut through complexity and never accept second best.
At Vida, we always keep our promises, what you see is what you get, and it will never change. Put simply, Vida helps those who are typically ignored by high street banks to get life moving.
With three offices in Egham, London, and Skipton, we bring teams together regularly to collaborate but 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 Values
Our values lie at the heart of everything we do and provide a frame of reference for the behaviour we expect to see in our people every day. Refreshed in 2020, we look for these qualities when hiring new talent into the organisation, and they underpin our approach to personal development and performance management for all our people. 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.
Role main purpose
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 point of acquisition and throughout the customer’s holding period.
- Utilise the pricing model as part of all pricing recommendations, analysing 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 in order 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 compliant, 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
- Graduate or equivalent level qualifications.
- 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.
- Team worker
- Structured and organised.
- 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 Culture
As an equal opportunities employer, Belmont Green and Vida are committed to the equal treatment of all current and prospective employees and does not condone discrimination on the basis of age, disability, sex, sexual orientation, pregnancy and maternity, race or ethnicity, religion or belief, gender identity, or marriage and civil partnership.
We aspire to have a diverse and inclusive workplace and strongly encourage suitably qualified applicants from a wide range of backgrounds to apply and join us. We believe diversity enables better business outcomes. We also believe that a more inclusive workplace, where people of different backgrounds work together, ensures better outcomes for all staff. From application to interview, we place inclusion at the heart of all we do.
Benefits
Belmont Green and Vida offers comprehensive benefits package to support our employees’ professional and personal needs, these are:
Agile Working
- Annual Leave - 28 days annual leave rising to 30 days (1 extra day per full year worked)
- Buy Annual Leave
- Birthday - We provide staff their birthday off to celebrate in style
- Vitality - Private Medical (Single cover) with Vitality as a ‘Benefit in Kind’ including discounts and health incentives
- Health MOT - Annual health checks with Vitality representative
- Free eye tests
- Free flu jabs
- Pension - up to 10% employer contribution after probation.
- Season Ticket Loan - We understand that some staff will need to rely on public transport in order to attend their work location. This benefit is intended to help staff cover the costs of a season ticket.
- Life Assurance - Offering 4 x basic salary
- Group Income Protection Insurance
- Annual Bonus - (company and personal performance related)
- Volunteering opportunities
- Car Parking - Free parking at Egham and Skipton offices.
- Education and Further Learning - We are keen believers in continuous professional development (CPD) and are committed to the development of all employees for the mutual benefit of the individual and furthering the business ability and needs. We encourage both professional qualifications and courses that are directly relevant to your current position and/or career path.
- Employee Referral Incentive Scheme
Job Types: Full-time, Permanent
Benefits:
- Additional leave
- Bereavement leave
- Company pension
- Enhanced paternity leave
- Flexitime
- Free flu jabs
- Free or subsidised travel
- Free parking
- Life insurance
- On-site parking
- Paid volunteer time
- Private medical insurance
- Referral programme
- Sick pay
- Wellness programme
- Work from home
Schedule:
- Flexitime
- Monday to Friday
- No weekends
Supplemental pay types:
Application question(s):
- Are you a Graduate or have equivalent level qualifications?
- Have you worked within the mortgage or banking industry?
Work Location: Remote