Model Validation Counterparty Credit Risk Pricing Models Manager, Lloyds
£95.4-106k
Plus an annual performance-related bonus & Share schemes including free shares
2+ days a week in office
Retail and commercial bank
Be an early applicant
Retail and commercial bank
1001+ employees
Be an early applicant
£95.4-106k
Plus an annual performance-related bonus & Share schemes including free shares
2+ days a week in office
1001+ employees
Company mission
To support families and businesses, helping them to take the next step, whatever that may be.
Role
Who you are
- To be considered, it is essential that you have a numerical or statistical background (evidenced through a higher qualification to at least Masters level in a quantitative discipline such as Mathematics or Finance, or via suitable experience in a quantitative role)
- It is also desirable that you have experience of working in a Model Validation or Front Office Quant role
Desirable
- Strong analytical skills
- Programming experience in C++ and/or Python
- Excellent written and oral communication skills with an ability to communicate quantitative models in a clear and concise manner
- Theoretical understanding and familiarity with derivative pricing models, stochastic calculus, partial differential equations and Monte Carlo simulation
- Ability to work independently to deadlines and under time pressure
What the job involves
- An excellent opportunity for a highly motivated applicant to join the Model Risk Office within Lloyds Banking Group. This is an exciting opportunity to be part of a dynamic team in a changing and challenging environment, which offers considerable scope for personal development
- You'll join the MAI & AI Modelling (MAI) team which covers valuation models for Lloyds Banking Group. The team is responsible for the independent review and analysis of the derivative pricing models used for valuation and risk
- We welcome you to a team which cover pricing, counterparty credit, and Gen AI analytics. We are also responsible for the independent review and analysis of the derivative pricing models used for valuation and risk
- You will help to validate counterparty credit risk pricing models and model changes and improvements, including new metrics such as COLVA , collateral optimisation tools etc.
- You’ll also provide qualitative analysis and stress testing of counterparty credit risk pricing models and sub models
- Validate and produce periodic reviews for XVA/Counterparty Credit Risk models
- Provide quantitative support to the XVA new business and regulatory initiatives from a model validation/risk perspective
Application process
- End Date: May 30, 2026
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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