Quantitative Analyst – Model Validation

An excellent opportunity for a highly motivated applicant to join the Model Risk and Validation 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.

About this opportunity

You'll join the Pricing 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.

Responsibilities:

• 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.
• Perform qualitative analysis and stress testing of pricing models used for pricing and/or risk calculations.
• 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.

Why Lloyds Banking Group

Join us and, as well as making a difference to customers, you’ll enjoy a fulfilling career where you’re free to be yourself. Great colleagues, transforming workspaces, hybrid working and a wide variety of career opportunities – you’ll find them all here.

What you’ll need

• You must 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.)
• Experience of working in a Model Validation or Front Office Quant role
• Programming experience in C++ and/or Python
• Theoretical understanding and familiarity with derivative pricing models, stochastic calculus, partial differential equations and Monte Carlo simulation
• Strong analytical skills
• Excellent written and oral communication skills with an ability to communicate quantitative models in a clear and concise manner
• Ability to work independently to deadlines and under time pressure

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: £89,505 - £99,450 (depending on location)

Woking 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