Model Validation Quant Assistant Manager London, England
Lloyds Banking Group
Full Time
London, England
55620 - 61800 GBP ANNUAL Today
Job description
End Date
Tuesday 23 May 2023
Salary Range
£55,620 - £61,800Agile Working Options
Job Description Summary
Please see job description below...
Job Description
An excellent opportunity has arisen for a highly motivated applicant to join the Chief Operating & Risk Science Office – Market & Liquidity Risk team 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 Price Model Validation 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.
At Lloyds Banking Group, we have a clear purpose; to help Britain prosper and to become the best bank for our customers. What we do makes a genuine difference to families, businesses and communities, and we’re playing a central role in crafting a growing UK economy.
What would you get involved with?
We welcome you to a team which cover pricing, counterparty credit, and market risk measurement modelling. We are also responsible for the independent review and analysis of the derivative pricing models used for valuation and risk
You’ll develop and benchmark pricing models in an independent code library using either C++ or Python, provide theoretical analysis and review of pricing models across asset classes understanding the mathematical models used and their implementation methods.
You’ll also provide qualitative analysis and stress testing of pricing models used for pricing and/or risk calculation
Other responsibilities include:
- To model the annual review for pricing models
- Undertake algorithmic trading validation work to be complaint with MiFID regulation
- Undertake trade surveillance validation work to be complaint with FCA regulation
What skills and experience can you bring to the role?
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 demonstrate commercial 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 including library architecture design
- 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
And in return...
It is a very exciting time to join LBG. Together we'll continue our market leading, ground breaking transformation and you'll help us realise the Group's vision to become the Best Bank for Customers. Here, you'll grow as a person and develop your career.
We work in hybrid ways which involves spending at least two days per week or 40% of their time at one of our office sites.
As well as a competitive salary (dependant upon location and experience) you’ll receive:
- Discretionary Performance Share Award
- Generous pension contribution
- A flex benefits cash pot you can adjust to suit your lifestyle (4% on top of your basic salary)
- Private health cover
- Share schemes
- 30 days holiday plus bank holidays
- In return for your expertise, you'll enjoy our total dedication to your ongoing personal and professional development. We'll help you perform at your best today, so you can fulfil all your potential in the future.
Lloyds Banking Group is committed to building a workforce which reflects the diversity of the customers and communities we serve, and to building an inclusive environment where all our colleagues can be themselves and succeed on merit. We're an equal opportunity employer and deeply value diversity within our organisation.
We've gained industry recognition including Stonewall Top 100 Employer, Top 30 Employer for Working Families, Gold Standard 2014 from the Business Disability Forum and Top 50 Employer for Women.
So if you have the skills we’re seeking and you’re looking for your next step, we’d love to hear from you!
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.
