Location
London

Hours
Full-time, hybrid work style requiring team members to spend at least two days per week, or 40% of their time, at the London office.

Salary
£63,000 - £67,000

About the Role
Join a dynamic team at Lloyds Banking Group where your quantitative expertise will drive model validation excellence in a fast-evolving financial landscape. This exciting opportunity is within the Model Risk Office, offering considerable scope for personal development in a changing and challenging environment.

You will be part of the Markets & AI Modelling team, which covers pricing models, counterparty risk models, and AI technology. The team provides independent review and challenge of derivatives pricing models used for valuation and risk management, ensuring the Group maintains rigorous standards and robust practices.

Day to day, you will:
- Deliver in-depth theoretical assessments of pricing models across various asset classes.
- Independently benchmark Front Office pricing models using C++ and Python.
- Perform qualitative analyses and stress tests to evaluate model performance.
- Compile comprehensive validation reports documenting findings and recommendations.
- Develop, enhance, and maintain internal tools to support and streamline the model validation process, contributing to team efficiency and impact.

Lloyds Banking Group is on an exciting journey to transform the Group and shape finance for good, investing in technologies, workplaces, and colleagues to create a great place for everyone.

Experience
- Prior experience in a Model Validation or Front Office Quant role is highly desirable.
- Programming experience in C++ and/or Python, including library architecture design.
- Strong understanding of financial derivatives and risk modelling.
- Ability to critically evaluate model performance and identify limitations.
- Familiarity with regulatory expectations related to model risk.

About you
- Excellent problem-solving and time management skills.
- Strong written and verbal communication skills, able to articulate complex mathematical concepts clearly and concisely.
- Ability to work independently, meet deadlines, and perform well under time pressure.

Qualifications
- A Master's degree or higher in a quantitative discipline (e.g., Mathematics, Physics, Quantitative Finance) or equivalent experience in a quantitative role.
- Solid theoretical understanding of derivative pricing models, stochastic calculus, partial differential equations, and Monte Carlo methods.