Location: London, Bristol or Leeds
Hours: Full-time
Working Pattern: Our work style is hybrid, involving at least two days per week, or 40% of our time, at one of our office sites.
An excellent opportunity for a highly motivated applicant to join the Model Risk and Validation team within Lloyds Banking Group. This is an exciting chance to be part of a dynamic team in a changing and challenging environment, offering considerable scope for personal development.
About this opportunity
You will join the Pricing Model Validation team, which covers valuation models for Lloyds Banking Group. The team is responsible for the independent review and analysis of derivative pricing models used for valuation and risk.
Responsibilities:
1. Develop and benchmark pricing models in an independent code library using C++ or Python.
2. Provide theoretical analysis and review of pricing models across asset classes, understanding the mathematical models and their implementation methods.
3. Perform qualitative analysis and stress testing of pricing models used for pricing and risk calculations.
4. Model the annual review process for pricing models.
5. Undertake algorithmic trading validation work to ensure compliance with MiFID regulation.
6. Undertake trade surveillance validation work to ensure compliance with FCA regulation.
Why Lloyds Banking Group
Join us and, besides making a difference to customers, enjoy a fulfilling career where you can be yourself. Great colleagues, transforming workspaces, hybrid working, and a wide variety of career opportunities await you.
What you’ll need
* A numerical or statistical background, evidenced by a higher qualification at least Masters level in a quantitative discipline such as Mathematics or Finance, or demonstrated commercial experience in a quantitative role.
* Experience in a Model Validation or Front Office Quant role.
* Programming experience in C++ and/or Python.
* Theoretical understanding and familiarity with derivative pricing models, stochastic calculus, partial differential equations, and Monte Carlo simulation.
* Strong analytical skills.
* Excellent written and oral communication skills, with the ability to communicate complex quantitative models clearly and concisely.
* The ability to work independently to meet deadlines and under time pressure.
About working for us
We are committed to inclusivity, building an organization that reflects modern society and celebrates diversity in all its forms. We want our people to feel they belong and can be their best, regardless of background, identity, or culture. We have set diversity goals, created health initiatives, and welcome applications from underrepresented groups. We are disability confident, and can provide reasonable adjustments during recruitment upon request.
Our benefits include:
* A generous pension contribution of up to 15%
* An annual performance-related bonus
* Share schemes, including free shares
* Flexible benefits such as discounted shopping
* 30 days’ holiday plus bank holidays
* Wellbeing initiatives and parental leave policies
Join us and do meaningful work that impacts millions.
At Lloyds Banking Group, our purpose is to help Britain prosper. Our colleagues focus on making a difference to customers, businesses, and communities. With us, you'll have opportunities to learn, grow, and shape the future of financial services.
We prioritize data safety. We will only ask for confidential or sensitive information during formal interview invitations or after accepting an offer, when background checks are conducted. We will explain what we need and why, from trusted Lloyds Banking Group representatives.
We are dedicated to creating a values-led, inclusive culture and building a workforce that reflects the diversity of our customers and communities. Together, we are creating a workplace where everyone can make a meaningful impact.
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