At a Glance
- Tasks: Validate counterparty credit risk pricing models and provide quantitative support for new business initiatives.
- Company: Join Lloyds Banking Group, a leader in finance with a commitment to diversity and inclusion.
- Benefits: Generous pension, performance bonuses, 30 days holiday, and flexible working options.
- Other info: Hybrid working environment with excellent career growth opportunities and support for disabilities.
- Why this job: Make a real impact in a dynamic team while developing your career in finance.
- Qualifications: Masters level qualification in a quantitative discipline and programming skills in C++ or Python.
The predicted salary is between 95418 - 106020 € per year.
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Our work style is hybrid, which involves spending at least two days per week, or 40% of our time, at one of our office sites. Colleagues with disabilities can be supported with workplace adjustments including hybrid working expectations in line with our Flexibility Works policy.
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.
Some of the activities you'll be involved in:
- Validate counterparty credit risk pricing models and model changes and improvements, including new metrics such as COLVA, collateral optimisation tools etc.
- 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.
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. In addition, knowledge and experience of the following would be beneficial:
- 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.
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 offer reasonable workplace adjustments for colleagues with disabilities, including flexibility in office attendance, location and working patterns.
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.
Model Validation Counterparty Credit Risk Pricing Models Manager employer: Lloyds Banking Group
At Lloyds Banking Group, we pride ourselves on being an exceptional employer that champions diversity, equity, and inclusion while fostering a dynamic work culture. Our hybrid working model allows for flexibility, ensuring a healthy work-life balance, while our commitment to personal development offers employees ample opportunities for growth in their careers. With a generous benefits package, including a substantial pension contribution and wellbeing initiatives, joining our team means making a meaningful impact in the financial sector while enjoying a fulfilling and supportive workplace.
StudySmarter Expert Advice🤫
We think this is how you could land Model Validation Counterparty Credit Risk Pricing Models Manager
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by practising common questions and scenarios related to model validation and counterparty credit risk. We recommend doing mock interviews with friends or using online platforms to boost your confidence.
✨Tip Number 3
Showcase your skills! Bring along examples of your work or projects that highlight your analytical abilities and programming experience. This will help you stand out and demonstrate your expertise in a tangible way.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re genuinely interested in joining our team at Lloyds Banking Group.
We think you need these skills to ace Model Validation Counterparty Credit Risk Pricing Models Manager
Some tips for your application 🫡
Tailor Your CV:Make sure your CV reflects the skills and experiences that match the job description. Highlight your numerical or statistical background, and any relevant experience in model validation or quantitative roles. We want to see how you fit into our team!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're excited about this role and how your background aligns with our mission at Lloyds Banking Group. Keep it concise but impactful—show us your passion!
Showcase Your Communication Skills:Since excellent written communication is key for this role, make sure your application is clear and well-structured. Use straightforward language to explain complex concepts, as if you're talking to someone who's not a quant expert. We love clarity!
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way to ensure your application gets to the right people. Plus, you’ll find all the details you need about the role and our company culture there!
How to prepare for a job interview at Lloyds Banking Group
✨Know Your Models
Make sure you have a solid understanding of the derivative pricing models mentioned in the job description. Brush up on your knowledge of stochastic calculus and Monte Carlo simulations, as these are likely to come up during the interview.
✨Showcase Your Analytical Skills
Prepare to discuss specific examples where you've used your analytical skills in previous roles. Be ready to explain how you approached complex problems and the quantitative methods you employed to solve them.
✨Programming Proficiency
Since programming experience in C++ and/or Python is desirable, be prepared to talk about your coding experience. You might even want to bring along a project or two that showcases your skills in these languages.
✨Communicate Clearly
Practice explaining complex quantitative concepts in simple terms. The ability to communicate effectively is crucial, so think of ways to break down your past experiences into clear, concise narratives that anyone can understand.
