Manager, Lifetime Mortgage (LTM) Pricing and Product Team

About this opportunity:

Lloyds Banking Group (LBG) is now an active participant in the lifetime mortgage market (LTM) under the Scottish Widows (“SW”) and Liverpool Victoria (LV=) brands. LBG has large ambitions for the LTM business, seeking to be a key long-term market participant addressing a growing customer need. This is why we're looking for a Pricing and Product Manager to further develop the business and make it a commercial success.

The role sits in a truly dynamic team working with key programme sponsors and partners across Insurance Pensions & Investments, Commercial Banking and Consumer Lending.

As part of the Loan Investments and Shareholder Assets Team (LI&SA) you'll be a key contributor to the development of the pricing methodology including contributing to valuation and capital optimisation workstreams, enabling SW to be at the forefront of this continually evolving market. This will extend to analysis of our existing portfolio to assess if there are optimisation opportunities to improve investment outcomes for SW and its shareholders.

What you’ll be doing:

• You'll develop and validate pricing, structuring and monitoring tools for existing and new asset types. This includes monitoring of profitability metrics, financial markets, competitors’ offerings, and pricing, as well as customer application and sales volumes.
• Develop and mentor junior members of the team.
• There will also be wider opportunity within the team to assist in designing, optimising, and implementing the securitisation transactions. Assisting with ongoing product design.
• Gain exposure and opportunity to develop your understanding of a range of long-term assets key to the success of IP&I.

Why Lloyds Banking Group

Like the modern Britain we serve, we’re evolving. Investing billions in our people, data and tech to transform the way we meet the ever-changing needs of our 26 million customers. We’re growing with purpose. Join us on our journey and you will too!

What you’ll need:

• Experience in actuarial valuation or asset pricing. Experience of developing pricing models/capital methodologies would be beneficial.
• Able to use of a variety of diagnostic techniques to understand a situation/issue/problem by breaking it down and tracing the root cause/underlying implications in a methodical step-by-step way.
• Strong modelling and analytical skills, preferentially in Mo.Net, R, Python or Prophet modelling software
• Knowledge of relevant Solvency (II/UK) regulation and understanding of asset profiles required to back long-term pension liabilities is desirable.
• The ability to clearly and optimally communicate information, ideas, plans, requests and opinions to internal and external customers through a range of channels including written and oral. Ensures alignment with communication guidelines and policies.
• Remain commercially focused at all times. Generate and implement creative solutions and novel ways to achieve goals.

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 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

Salary: Circa £100,000 DOE and location

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 our Edinburgh or London office.