Analyst, Model Risk and Validation

Lloyds Banking Group; Halifax; Hybrid; GBP 75,000 - 100,000; Full time

Benefits offered by this job

Generous pension

Annual bonus

Share schemes

Wellbeing initiatives

Parental leave

Holiday entitlement

Job summary

Lloyds Banking Group is seeking a skilled professional for the Model Risk Office to conduct independent model reviews and technical validations across a broad range of regulatory and non-regulatory models in Retail and Commercial divisions.

You will assess models through their lifecycle, contribute to governance, and communicate findings clearly to senior stakeholders, helping to strengthen risk frameworks and decision-making across the Group.

Qualifications

• Degree-level qualification covering quantitative content such as mathematics, physics or similar.
• Experience of model development techniques and programming in Python, R, SAS or C/C++.
• Understanding of modelling and validation principles including regulatory requirements.

Responsibilities

• Assess models across their lifecycle, including new developments, changes, validations and monitoring.
• Deliver independent model validations, including recoding, software development, challenger modelling and mathematical techniques.
• Review and challenge model development activities: data profiling, validation, back-testing, stress testing, documentation and projects.

Skills

Numerate degree

Modelling techniques

Programming: Python/R/SAS/C/C++

Model validation

Communication & stakeholder influence

Education

Mathematics or Physics degree

Tools

SAS

Python

R

C/C++

Job description

WORKING PATTERN: Our work style is hybrid, which involves spending at least two days per week, or 40% of our time in the office. Colleagues with disabilities can be supported with workplace adjustments including hybrid working expectations in line with our Flexibility Works policy. What you'll be doing: An exciting opportunity has become available in the Model Risk Office (MRO) within Lloyds Banking Group's Risk division. You are responsible for independent model reviews and technical validation across a broad range of regulatory and non-regulatory models across our Retail or Commercial divisions, including Treasury. This is an excellent opportunity to accelerate your modelling expertise, by developing a comprehensive understanding of the model lifecycle, and building a strong network across the organisation. You'll collaborate with experienced professionals in a supportive environment, helping to uphold high standards of model risk management while contributing to the robustness of the Group's decision-making and risk frameworks. In this role, you'll:

• Assess models independently across their lifecycle, including new developments, changes, periodic validations, and ongoing monitoring
• Deliver independent model validations, which may include recoding, software development, challenger modelling, and the application of mathematical techniques
• Review and challenge model development activities, including data profiling, model selection, validation, back-testing, stress testing, documentation, and contribution to key projects
• Evaluate model build, calibration, operation, usage, reporting, governance, and overall fitness for purpose
• Document and communicate validation findings clearly, highlighting weaknesses, risks, and opportunities for improvement in a balanced and constructive way
• Present independent review outcomes to senior colleagues and approval forums, while building effective relationships across the Group and maintaining knowledge of model risk, regulatory requirements, and standards

Our ambition is to be the leading UK business for diversity, equity and inclusion supporting our customers, colleagues and communities and we're committed to creating an environment in which everyone can thrive, learn and develop.

Requirements

• Highly numerate with a degree-level qualification covering quantitative content such as mathematics, physics or similar module, or similar skills derived from experience.
• Experience of model development techniques, including areas such as regression and decision trees, alongside programming skills in languages such as Python, R, SAS or C/C++.
• A good understanding of modelling and validation principles including awareness regulatory requirements.
• Ideally, knowledge of banking and risk management, and an interest in developing your expertise across treasury and risk models in a changing regulatory environment.
• Excellent communication and relationship-building skills, with the ability to provide clear, constructive challenge and influence a range of stakeholders.
• A proactive and ethical approach, demonstrating sound judgement, resilience in solving complex problems, and a commitment to delivering high-quality outcomes with integrity.

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 keep your data safe. So, we'll only ever ask you to provide confidential or sensitive information once you have formally been invited along to an interview or accepted a verbal offer to join us which is when we run our background checks. We'll always explain what we need and why, with any request coming from a trusted Lloyds Banking Group person. 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.

Benefits

• 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
• 24 days' holiday, with bank holidays on top
• A range of wellbeing initiatives and generous parental leave policies.