Pensions Risk Manager in Edinburgh

Salary Range: £84,051 - £93,390

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

Flexible Working Options: Hybrid Working, Job Share

About the opportunity:

We have an exciting opportunity to join the Pensions Risk team within Liquidity, ALM and Pensions Risk; providing oversight and challenge on the Group sponsored Defined Benefit Schemes. The Schemes comprise of c£30bn of assets and are collectively some of the largest defined benefit schemes in the UK, offering great opportunity to be involved in a range of activities.

What you’ll be doing:

• This role involves becoming part of a small, cooperative Pensions Risk team.
• Leading multiple activities, assisting colleagues, and stepping in for the Senior Pensions Risk Manager as needed.
• Working closely with Group Corporate Treasury and Pensions Risk Management, acting as a trusted partner on pension scheme funding, strategy, and risk plans.
• Delivering clear, evidence-based analysis and offering constructive feedback to foster sound decision-making.
• Assisting with internal and external pensions stress testing, including work on the PRA ICAAP submission.
• Assessing how various scenarios affect pension risk within the broader Group strategy.
• Helping develop and maintain pension risk appetite, regularly checking exposures, analysing trends, providing insight and challenge when needed, and supporting pension model reviews.
• Contributing to the annual review and attestation of market risk policies and procedures.
• Reviewing external pensions-related IAS19 disclosures and contributing to the assumptions setting process.
• Representing the team in pensions and broader governance forums, sharing expertise and influencing discussions and outcomes.
• Contributing to strengthening the pensions risk frameworks by driving ongoing improvements.
• Building strong working relationships with key partners and keeping current with changes in the pensions landscape through internal and external networks.
• Participating in wider initiatives across Liquidity and Asset Liability Management Risk, collaborating with colleagues to support broader team goals.

Why join us?

From building a truly sustainable business to creating a place where people love to work, we need colleagues who are up for the challenge and can match our pace. People who love to push boundaries, make change happen and challenge the status quo.

What we’re looking for:

• At least 5 years hands-on experience of defined benefit pension schemes and their financial risk management, with the capability to apply this expertise in a complex environment.
• A relevant professional qualification is essential – for example, a qualified actuary (FIA/FFA or equivalent) or CFA.
• Confident communication skills, with the ability to explain technical concepts clearly, provide constructive challenge and influence a range of collaborators, including senior colleagues.
• A proactive, self-starting approach, with experience of managing your own workload, balancing multiple priorities, and adapting to new challenges.
• Strong analytical and problem-solving capability, with good judgement, attention to detail and the ability to work across multiple workstreams.

And any experience of these would be great:

• Experience presenting complex technical information to diverse audiences and building strong, collaborative relationships across teams.

We know that great talent comes from many backgrounds. Whilst this job advert may reference specific years of experience, we recognise that skills are developed in many ways, so if you have relevant, transferable experience, we encourage you to apply.

This is a place for you:

Our ambition is to be the leading UK business for diversity, equity and inclusion supporting our customers, colleagues and communities and we’re committed to creating an environment in which everyone can thrive, learn, and develop.

We also offer a wide-ranging benefits package, which includes:

• A generous pension contribution of up to 15%
• An annual performance-related bonus
• Share schemes including free shares
• Benefits you can adapt to your lifestyle, such as discounted shopping
• 30 days’ holiday, with bank holidays on top
• A range of wellbeing initiatives and generous parental leave policies

Ready to make an impact? Apply today.

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 keep your data safe. So, we'll only ever ask you to provide confidential or sensitive information once you have formally been invited along to an interview or accepted a verbal offer to join us which is when we run our background checks. We'll always explain what we need and why, with any request coming from a trusted Lloyds Banking Group person.

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.