Assistant Manager, Pricing Model Validation

Last updated 3 days ago
Location:Greater London
Job Type:Full Time

End Date

Thursday 20 August 2020

Salary Range

£52,947 - £58,830

We support agile working – click here for more information on agile working options.

Agile Working Options

Other Agile Working Arrangements / Open to Discussion

Job Description Summary

Monitor and support a range of risk management processes and systems and interpret a range of data, managing the efficient and effective production of high quality analysis, anticipating stakeholder needs.

Job Description

At Lloyds Banking Group, we have a clear purpose; to help Britain prosper and to become the best bank for our customers. What we do makes a genuine difference to families, businesses and communities, and we’re playing a central role in crafting a growing UK economy.

In this rare and impactful role, you’ll be joining the Pricing Model Validation team within the Chief Operating & Market Risk Science department.

Job description/what would you get involved with?

We welcome you to a team which cover pricing, counterparty credit, and market risk measurement modelling. We are also responsible for the independent review and analysis of the derivative pricing models used for valuation and risk.

You’ll develop and benchmark pricing models in an independent C++ library, provide theoretical analysis and review of pricing models across asset classes understanding the mathematical models used and their implementation methods.

You’ll also provide qualitative analysis and stress testing of pricing models used for pricing and/or risk calculation.

Other responsibilities include:

  • To model the annual review for pricing models
  • Undertake algorithmic trading validation work to be complaint with MiFID regulation
  • Undertake trade surveillance validation work to be complaint with FCA regulation


What skills and experience can you bring to the role?

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 demonstrate commercial experience in a quantitative role)
  • Strong analytical skills
  • Programming experience in C++ including library architecture design
  • 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

It would also be beneficial if you had experience of working in a Model Validation or Front Office Quant role.

The role is based at Lloyds Banking Group, 10 Gresham Street, London. EC2V 7AE

This advert opens for applications on the 31st of July and closes on the 20th of August (for those applying through Find a Job please note THIS IS NOT THE 30 AUGUST 2020 CLOSING DATE QUOTED ABOVE)

And in return...

It is a very exciting time to join LBG. Together we'll continue our market leading, ground breaking transformation and you'll help us realise the Group's vision to become the Best Bank for Customers. Here, you'll grow as a person and develop your career.

The salary range is £55,889 – £61,771 plus benefits (NOT THE 52,947 - £58,830 QUOTED ABOVE)

As well as a competitive salary, you’ll receive:

  • Discretionary Performance Share Award
  • Generous pension contribution
  • A flex benefits cash pot you can adjust to suit your lifestyle (4% on top of your basic salary)
  • Private health cover
  • Share schemes
  • 30 days holiday plus bank holidays

In return for your expertise, you'll enjoy our total dedication to your ongoing personal and professional development. We'll help you perform at your best today, so you can fulfil all your potential in the future.

Lloyds Banking Group is committed to building a workforce which reflects the diversity of the customers and communities we serve, and to building an inclusive environment where all our colleagues can be themselves and succeed on merit. We're an equal opportunity employer and deeply value diversity within our organisation.

We've gained industry recognition including Stonewall Top 100 Employer, Top 30 Employer for Working Families, Gold Standard 2014 from the Business Disability Forum and Top 50 Employer for Women.

So if you have the skills we’re seeking and you’re looking for your next step, we’d love to hear from you!

At Lloyds Banking Group, we're driven by a clear purpose; to help Britain prosper. Across the Group, our colleagues are focused on making a difference to customers, businesses and communities. With us you'll have a key role to play in shaping the financial services of the future, whilst the scale and reach of our Group means you'll have many opportunities to learn, grow and develop.

We're focused on creating a values-led culture and are committed to building a workforce which reflects the diversity of the customers and communities we serve. Together we’re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.