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Analyst - Model Risk & Validation

Lloyds Banking Group

Location: Greater London

Job Type: Full time

Last updated

The most difficult thing is the decision to act, the rest is merely tenacity.
- Amelia Earhart

End Date

Sunday 03 July 2022

Salary Range

£34,767 - £38,630

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

Provide analytical support to deliver retail and commercial credit risk and decision models to support risk management and decision making in LBG.

Job Description

Who is Lloyds Banking Group (LBG)?

We're the UK’s largest Digital, Retail and Commercial Bank with a focus on Helping Britain Prosper. We’re innovating products that help transform customer journeys – making millions of people’s lives simpler and better, all over the country, every single day. There’s never been a better time to be part of change – help us reinvent the boundaries of banking, and we’ll invest in your continued development, so you can craft your future career. We're committed to employing a diverse and inclusive workforce, reflective of the customers and communities we serve – where all our colleagues can be themselves and succeed on merit

About Model Risk and Validation (MRAV) team at Lloyds

An exciting opportunity has become available to join the Commercial Model Risk and Validation team (MRAV) within Lloyds Banking Group’s Risk division, where we're responsible for ensuring that all Commercial models remain continually fit for purpose and compliant with internal governance and external regulations. This role provides the opportunity to gain detailed and wide-ranging experience in all the models used in the CB credit risk function from Small and Medium sized Enterprises (SME) to Global Corporates. The models used include Basel (Capital), IFRS 9 (impairment), pricing/profitability, stress testing and forecasting. There is also some degree of flexibility to work across the different MRAV teams.

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

Key Accountabilities:

  • Provide support with independent reviews of all aspects of Lloyds Banking Group models, including new developments, model changes, periodic validations and ongoing monitoring
  • Independent Validation (partial or complete recoding, development or building of challenger models)
  • Assist with independent review and challenge of model developments (data profiling, selection, validation, back-testing, stress testing and model documentation)
  • Detailed evaluation of models, including their: design, calibration and validation, operation, usage, reporting, and governance
  • Documentation of validation findings, providing insight and evaluation of weaknesses
  • Presentation of independent model review to senior members of the team and Personal Approver
  • Develop knowledge of model risk and regulatory requirements and standards pertaining to risk models
  • Engagement with colleagues across the Group to manage relationships and challenge constructively

Key Capabilities/ Knowledge:

Essential

  • Qualifications: You'll be highly numerate, with at least a degree level qualification covering quantitative content e.g. mathematics, physics or equivalent skills derived from experience
  • Experience: of model build techniques e.g. regression or decision trees and programming languages e.g. C/C++, R, Python or SAS
  • Judgement: Ability to make sound model judgements, taking into account model performance and regulation
  • Influence: Ability to communicate clearly and concisely, verbally and in writing, across peer groups
  • Integrity: Has ethics and integrity at the heart of every decision, and creates an environment that encourages high performance, willingness, honesty and integrity

Desirable

  • Industry Knowledge: An understanding of modelling techniques and an awareness of model validation and current regulation that may impact the Group
  • Business Knowledge: Awareness of the banking business and associated risk management approaches sufficient to understand models in the context of the business

Does this sound like you?

If so, then please get in touch, we'd love to hear from you! In return for bringing us your passion and engagement, we're offering a strong platform to fulfil your career potential.

We're dedicated to giving you opportunities and support to develop you both expertly and personally to optimise your potential. As a new colleague, you’ll join us on our journey to build a 21st century bank that reflects modern Britain and craft an inclusive culture where all colleagues feel encouraged and valued.

We're 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 support the principles of agile working and are happy to consider flexible working arrangements. We're an equal opportunity employer and deeply value diversity within our organisation.

We'll ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform crucial job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

At Lloyds Banking Group, we're driven by a clear purpose; to help Britain recover. 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.