At a Glance
- Tasks: Join a dynamic team to validate pricing models and enhance model validation processes.
- Company: Lloyds Banking Group, a leader in financial services with a commitment to innovation.
- Benefits: Generous pension, performance bonuses, flexible working, and 28 days holiday.
- Other info: Inclusive workplace with opportunities for personal growth and development.
- Why this job: Make a real impact in a transformative environment while developing your skills.
- Qualifications: Master’s degree in a quantitative field or equivalent experience; programming skills in C++ and Python.
The predicted salary is between 65304 - 72560 £ per year.
We support flexible working – click here for more information on flexible working options.
Flexible Working Options: Hybrid Working, Job Share
Salary: 65,304 - 72,560
Location: London
Hours: Full-time
Working Pattern: 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.
What you'll be doing:
- Deliver in-depth theoretical assessments of pricing models across various asset classes.
- Independently benchmark Front Office pricing models using C++ and Python.
- Perform qualitative analyses and stress tests to measure model performance.
- Compile comprehensive validation reports that clearly detail your findings and recommendations.
- Develop, enhance, and maintain internal tools that support and streamline the model validation process, contributing to the team’s overall efficiency and impact.
Why join us?
We’re transforming at pace. Investing billions in our people, data and tech to change the way we meet the needs of our 28 million customers. We’re growing, and we’d love you to be part of the journey.
What we’re looking for:
- A Master’s degree or higher in a quantitative discipline (e.g., Mathematics, Physics, Quantitative Finance) or equivalent experience in a quantitative role.
- A solid theoretical understanding of, and familiarity with, derivative pricing models, stochastic calculus, partial differential equations and Monte Carlo methods.
- Excellent problem-solving and time management skills.
- Strong written and verbal communication skills, with the ability to articulate complex mathematical concepts clearly and concisely.
- The ability to work independently, meet deadlines, and perform well under time pressure.
And any experience of these would be great:
- Prior experience in a Model Validation or Front Office Quant role.
- Programming experience in C++ and/or Python including library architecture design.
- Strong understanding of financial derivatives and risk modelling.
- Ability to critically evaluate model performance and identify limitations.
- Familiarity with regulatory expectations related to model risk.
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. We offer reasonable workplace adjustments for colleagues with disabilities, including flexibility in office attendance, location and working patterns. And, as a Disability Confident Leader, we guarantee interviews for a fair and proportionate number of applicants who meet the minimum criteria for the role with a disability, long-term health or neurodivergent condition through the Disability Confident Scheme.
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
- 28 days’ holiday, with bank holidays on top
- A range of wellbeing initiatives and generous parental leave policies
Ready for a career where you can have a positive impact as you learn, grow and thrive? Apply today and find out more.
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.
Summary Location: London 33 Old Broad Street Type: Full time
Assistant Manager, Model Validation Quant employer: Lloyds Banking
Lloyds Banking Group is an exceptional employer, offering a dynamic work culture that prioritises employee growth and development. With a strong focus on strategic initiatives in Corporate & Institutional Banking, employees benefit from generous pensions, annual bonuses, and flexible working arrangements, making it an ideal place for those seeking meaningful and rewarding careers in London.
StudySmarter Expert Advice🤫
We think this is how you could land Assistant Manager, Model Validation Quant
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like Lloyds Banking. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Assistant Manager, Model Validation Quant
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Lloyds Banking.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Lloyds Banking's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Lloyds Banking
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Lloyds Banking.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Lloyds Banking will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Lloyds Banking employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
