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Model Validation Quant Assistant Manager

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End date

Saturday 01 March 2025

Salary range

£61,263 - £68,070

We support agile working

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Agile Working Options

Job Share; Hybrid Working

Job description

JOB TITLE:           Model Validation Quant Assistant Manager
LOCATIONS:     London
HOURS:                 Full Time
 

About this opportunity

An excellent opportunity for a highly motivated applicant to join the Model Risk Office 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 Pricing Models & Methodologies, Counterparty Risk, and Gen AI Analytics (PMCG) 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.

We welcome you to a team which covers pricing, counterparty credit, and Gen AI analytics. We’re 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 produce periodic reviews for pricing and counterparty credit models
  • Undertake algorithmic trading validation work to be complaint with MiFID regulation
  • Undertake trade surveillance validation work to be complaint with FCA regulation

What you’ll need

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

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. 
As an inclusive employer, we offer Workplace Adjustments for colleagues with a disability (which may include longterm health and neurodivergent conditions) where it is reasonable to do so. This could include flexibility with regards to office attendance, location, and working 
pattern. 
If you have a disability, you can also apply via our Disability Confident Scheme (DCS). Through the DCS, we guarantee to interview a fair and proportionate number of applicants with a disability, whose application meets the minimum criteria for the advertised job role.
We also provide adjustments that are reasonable throughout the recruitment process to reduce or remove barriers for applicants with a disability, long-term health condition or neurodivergent condition. If you’d like an adjustment to the recruitment process just let us know.
 

If you’re excited by the thought of becoming part of our team, get in touch.

We’d love to hear from you.
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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'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.