End Date

Friday 14 July 2023

Salary Range

£76,428 - £84,920

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

Agile Working Options

Flexible / Variable Hours, Other Agile Working Arrangements / Open to Discussion

Job Description Summary

An exciting opportunity has become available to join the Model Risk and Validation (MRAV) team within Lloyds Banking Group’s Risk division. The role will give you responsibility for independent model review and technical validation across the Retail and Commercial divisions with a degree of flexibility to work across the MRAV teams. The scope is wide and covers Retail and Commercial Credit, Market Risk and Asset Liability Management across both Regulatory and Non-Regulatory models.

Job Description

JOB TITLE: MANAGER, MODEL RISK AND VALIDATION (MRAV)

SALARY: £65,320 - £91,710

LOCATION(S): London, Halifax, Edinburgh, Cardiff, flexible

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.

This is a superb opportunity to develop areas of knowledge relating to the Group’s modelling capability and build a strong network of contacts.

About this opportunity

An exciting opportunity has become available to join the Model Risk and Validation (MRAV) team within Lloyds Banking Group’s Risk division. The role will give you responsibility for independent model review and technical validation across the Retail and Commercial divisions with a degree of flexibility to work across the MRAV teams. The scope is wide and covers Retail and Commercial Credit, Market Risk and Asset Liability Management across both Regulatory and Non-Regulatory models.

Key accountabilities:

• Lead independent reviews of all aspects of Lloyds Banking Group models, including new developments, model changes, periodic validations and ongoing monitoring.

• Independent Validation and challenge of model developments (data profiling, recoding, development of challenger models data profiling, selection, validation, back-testing, stress testing and model documentation) including detailed evaluation of models (design, calibration and validation, operation, usage, reporting, and governance).

• Documentation of validation findings, providing insight and evaluation of weaknesses and making recommendations for improvements.

• Presentation of independent model review to Model Governance Committee or Personal Approver and engagement with senior colleagues across the Group to manage relationships, influence decision makers and challenge constructively at a senior level.

• Maintain knowledge of model risk and regulatory requirements and standards pertaining to risk models.

About Us or Why Lloyds Banking Group?

We’re on an exciting journey and there couldn’t be a better time to join us. The investments we’re making in our people, data, and technology are leading to innovative projects, fresh possibilities, and countless new ways for our people to work, learn, and thrive.

Essential skills:

• Experience: Model build experience using C/C++, R, Python or SAS and/or independent validation within a financial services organisation in either Commercial Credit, Retail Credit, Treasury or Market Risk models

• Qualifications: You'll be highly numerate, with at least a degree level qualification covering quantitative content or equivalent skills derived from experience.

• Business Partnering: Effective relationship management, delivering successful business partnering whereby constructive challenge is undertaken in a timely and orderly fashion

• Influence: Ability to communicate and influence on sophisticated issues, verbally and in writing (including model documentation), across all key partner groups

• Industry Knowledge: A sound and up-to-date understanding of modelling and validation techniques, governance, model documentation and relevant regulation, including any changes that may impact the Group

• Judgement: Ability to utilise experience and knowledge to make sound model judgements, taking into account model performance, regulation and wider considerations such as complexity vs benefit and short vs long term trade-offs

• Integrity: Has ethics and integrity at the heart of every decision, and creates an environment that encourages high performance, openness, honesty and integrity

And any experience of these would be really useful (if these exist)

• Advanced Analytics: Machine Learning / Advanced Analytics experience, possibly gained in a nonbanking environment.

• Business Knowledge: Knowledge of banking business and associated risk management approaches sufficient to understand models in the context of the business

• Drive and Delivery: Track record of effective delivery and overcoming challenges to deliver business results

About working for us

Our focus is to ensure we're inclusive every day, building an organisation that reflects modern society and celebrates diversity in all its forms. We want our people to feel that they belong and can be their best, regardless of background, identity or culture. We were one of the first major organisations to set goals on diversity in senior roles, create a menopause health package, and a dedicated Working with Cancer initiative. And it’s why we especially welcome applications from under-represented groups. We’re disability confident. So if you’d like reasonable adjustments to be made to our recruitment processes, just let us know.

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 start growing with purpose? 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.