Automotive Economist

Last updated an hour ago
Location:Greater Manchester
Job Type:Full Time

End Date

Thursday 04 February 2021

Salary Range

£49,743 - £55,270

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

At Lloyds Banking Group, we’re motivated by a clear purpose - to Help Britain prosper. Across the Group, our colleagues are focused on making a difference to customers, businesses and communities.

Consumer Finance are responsible for providing personal and business credit cards, unsecured loans, motor finance and leasing in the UK. We have approximately £40bn of lending across all of our products. Our purpose is to enable customers to purchase today with the money they will pay us in the future, enabling them to buy, borrow and budget, and to help Britain prosper by keeping Britain mobile. We're the UK’s leading provider of cards and loans and our businesses support the four iconic brands of Halifax, Lloyds Bank, MBNA and Bank of Scotland. These brands are trusted by millions of people across the UK to deliver what they need, in the way they want it, when they need it.

Job Description

The Motor Pricing team leads the residual value setting strategy for the Motor Finance and Leasing Business within Lloyds Banking Group, in addition to supporting the stress testing and residual value provisioning activity and development of Guaranteed Future Value Policy. All new vehicle residual values across the Motor Finance and Leasing business are within the scope of the team.


  • Own, run and develop the macro-economic forecasting methodologies pertinent to the Motor Finance and Leasing fleet portfolio, working closely with Pricing Research Team Manager, Fleet Revaluation Manager and Group Economics team, whilst developing and undertaking research activities to improve the accuracy of the residual value forecasting methodology
  • Utilise sophisticated data modelling techniques to identify and evaluate the impact of the market-specific factors that drive used vehicle prices
  • Work closely with the Pricing Research Manager, Fleet Revaluation Manager, Group Finance and Credit Risk teams in the development of Multiple Economic Scenarios including the modelling of market stress effects in support of financial reporting requirements.
  • Take ownership for research on the relevant aspects of risk management to advise the Motor Finance Residual Value Forum, and work with the Fleet Revaluation Manager to develop fleet valuation accuracy, working with the Pricing Management Team to identify potential operational improvements and business benefits.

The role gives an excellent opportunity to broaden skills, experiences and exposure to Senior Executives in a high-performing, high profile and fulfilling environment. You'll learn about how residual value setting and GFV Policy management and not just mitigates risk exposure, but how it interacts with commercial activity and its importance to long term success.

To deliver in this role, you'll need to demonstrate you possess the following skills:

  • The ability to implement economic time series forecasting and hedonic price index construction or demonstrate a firm grasp of other sophisticated statistical techniques
  • Strong analytical skills as well as paying close attention to detail, with a comprehensive understanding of how economic developments influence vehicle residual values
  • Data management and analysis, capable of handling high volume, detail focused processes to tight timescales with high degrees of accuracy
  • Building and maintaining influential and collaborative relationships, which give customers confidence in our fleet revaluation processes.

We’ll also need you to have the following knowledge and experience:

  • A Masters or PhD in Economics or closely related subject
  • Market Risk modelling techniques that involve econometrics, supply and demand simulation, market/regulatory impact evaluation
  • Experience in handling large datasets and financial and analytical projects
  • Excellent written and verbal communication, including presentation skills
  • Experience in automotive sector residual value risk management, or similar, is desirable

This role provides the scope to work flexibly, develop personally and work collaboratively with a results-oriented team to transform our colleague experience and bring to life the Group’s vision of being the Best Bank for Customers & colleagues.

We're an equal opportunity employer and deeply value diversity within our organisation.

Together we make it possible.

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.