Audit Analyst, Lloyds
Models
£52.1-57.9k
+ A discretionary performance share bonus
Retail and commercial bank
Job no longer available
Retail and commercial bank
1001+ employees
Job no longer available
£52.1-57.9k
+ A discretionary performance share bonus
1001+ employees
Company mission
To support families and businesses, helping them to take the next step, whatever that may be.
Role
Who you are
- Knowledge of the generic elements of a model life cycle, and their associated risks
- Effective model risk management and governance
- Regulatory capital requirements in Insurance or Banking
- Statistical analysis and qualitative techniques for validating models
- Credit risk modelling, regression based models, retail credit risk scorecards, credit provision modelling techniques
- Stress testing and scenario analysis, including qualitative and quantitative techniques for firm wide stress testing, and knowledge of econometric modelling and forecasting
- Actuarial and Insurance modelling, including reserving pricing, stress testing, capital and insurance risk modelling
- Analysis and modelling of market and credit risk, Value at Risk (VaR) and generic risk measures such as Greeks and stress testing
- Traded products valuation models (all product types)
- You will ideally be technically oriented, and may be working towards professional qualifications in a quantitative discipline
- An important part of the role is to review, challenge and identify areas of improvements. You will therefore be comfortable understanding the underlying methodologies and assumptions of models and their development and use
- As well as these technical requirements, it is key that you also possess excellent analytical, presentational, report writing, and communication skills
- Candidates will have an interest in and a wider appreciation of the business context of models and stress testing, and be able to demonstrate commercial awareness
- They will possess an ability to quickly understand the practical business requirements of models and be able to pick up new or varied techniques beyond their experience to date
What the job involves
- The role of Audit Analyst provides an excellent opportunity to join the Models Audit team, part of Group Audit
- You will work within a leading audit function and gain exposure to a wide range of risk modelling, capital assessment and other analytical techniques across our banking and insurance businesses
- You will use your expertise to support the delivery of the audit plan by executing risk based audits
- Through this you will harness a deep understanding of business priorities, controls and risks to provide reliable, independent assurance and agree management actions to enhance the control framework
- Work collaboratively across the risk / business audit matrix to develop an understanding of business priorities and risk appetite relevant to assigned Audits, identify key controls and evaluate their design effectiveness requiring only light supervision
- Complete testing of key controls for assigned Audits to evaluate their operational effectiveness
- Highlight any control deficiencies for assigned Audits and draft issues and actions for inclusion in Draft Reports
- Deliver assigned areas of Audits within agreed timescales, through collaboration with other colleagues keeping the Engagement Lead (EL) updated on progress and escalating issues and concerns promptly
- Apply the Group Audit methodology and standards to identify and deliver high quality findings and robust supporting files
- Ensure management actions address the root cause of findings, all findings are reported, followed up and management proposals to close are credible and fully supported by evidence ahead of recommending closure to the EL/Head of
- Embrace continuous improvement through supporting change initiatives
- Motivate, develop and collaborate within own team and across the wider function to drive higher performance and sustained results
- Establish and build relationships with stakeholders to educate the business in the control framework and influence business processes and required actions to deliver control improvements
Salary benchmarks
Our take
Lloyds Bank, part of Lloyds Banking Group, began operations back in 1765 and is nowadays one of the UK’s leading retail and commercial banks. As with many leading banks, the company has dealt with its share of controversy, but it has nonetheless stood the test of time and worked to build back its public reputation in the wake of these setbacks.
As part of its ongoing digital transformation, the company is seeking to put the cloud at the front of its services and systems, and has cited intentions to invest heavily in overhauling its technology infrastructure. All this seeks to serve the modern banking customer, and to compete with the fast-increasing number of alternative banking options appearing on the market.
On top of this, Lloyds Bank has shown great interest in facilitating innovation in the industry, joining as a partner on "FinTech Action Labs" to bring its industry expertise to early-stage FinTechs. The company continues to enhance its online and mobile services (it is the UK's biggest mobile bank), as well as expanding its partnerships with digital banking companies.
Steph
Company Specialist at Welcome to the Jungle
Insights
-1% employee growth in 12 months
Company
Company benefits
- Flex cash: This is 4% of your basic salary and can be used to spend on the benefits of your choice, or you can choose to take it as a cash top up in your monthly salary.
- A generous holiday allowance: You’ll be eligible for a minimum of 22 days holiday (excluding bank holidays), rising to 30 days based on length of service and grade.
- A flexible way of working: Whether you want flexibility over your location or when you log on, together we can create an approach that works for you and for the business.
- Family leave: Up to 63 weeks of maternity or adoption leave. Statutory maternity or adoption pay is available for 39 weeks, and 20 weeks will be enhanced to the equivalent of full pay. Partners can have six weeks of fully paid paternity leave.
- Health insurance: Our company funded Private Medical Benefit provides all colleagues with access to good quality medical care, including accommodation, nursing care and specialist advice.
- Colleague Offers: Get discounts on everything from electrical items to cinema tickets and weekly food shopping. You can share this benefit with up to ten family members or friends.
- Financial products: Take advantage of our great financial products, some at a discounted rate, including current accounts, home and car insurance and loans.
- Share plans: Participate in Sharematch and receive matching shares of up to £45 a month from the company, and you can choose to participate in Sharesave, our combined savings and share option plan.
- Pension: We offer a generous pension plan, with all joiners being automatically enrolled in our 'Your Tomorrow' scheme. You can decide how much you save and get a say in where your contributions are invested.
Company HQ
City of London, London, UK
Leadership
Charlie Nunn
(Group Chief Executive)Spent nine years at HSBC, including as Group Head of Wealth Management and Digital, and as CEO of Wealth and Personal Banking.
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