We study the dynamical behaviour of ultracold fermionic atoms loaded into an optical lattice under the presence of an effective magnetic flux, induced by spin-orbit coupled laser driving. At half filling, the resulting system can emulate a variety of iconic spin-1/2 models such as an Ising model, an XY model, a generic XXZ model with arbitrary anisotropy, or a collective one-axis twisting model. The validity of these different spin models is examined across the parameter space of flux and driving strength. In addition, there is a parameter regime where the system exhibits chiral, persistent features in the long-time dynamics. We explore these properties and discuss the role played by the systems symmetries. We also discuss experimentally-viable implementations.