Analyst, Model Risk and Validation

Lloyds Banking Group; West Yorkshire; Hybrid; GBP 31,000 - 42,000; Full time

Benefits offered by this job

Pension up to 15%

Annual bonus

Share schemes

Discounts

24 days holiday

Wellbeing initiatives & parental leave

Job summary

Lloyds Banking Group in Halifax/UK is seeking an Analyst, Model Risk and Validation to join the Model Risk Office (MRO). The role focuses on independent model reviews and technical validation across Retail, Commercial, and Treasury models.

You'll gain exposure to the full model lifecycle, deliver validations, challenge development activities, communicate findings clearly, and build relationships across the Group while benefiting from hybrid working and a comprehensive benefits package.

Qualifications

• Degree-level qualification covering quantitative content (math/physics or similar).
• Experience of model development techniques and programming languages (Python, R, SAS or C/C++).
• Understanding of modelling and validation principles and regulatory requirements.
• Knowledge of banking and risk management is desirable.

Responsibilities

• Assess models independently across their lifecycle, including new developments, changes, validations and monitoring.
• Deliver independent model validations, including recoding, software development and challenger modelling.
• Review and challenge model development activities with data profiling, validation and back-testing.
• Evaluate model build, calibration, operation, usage, reporting and governance.
• Document and communicate validation findings clearly with risks and improvement opportunities.
• Present independent review outcomes to senior colleagues and forums, building cross-group relationships.

Skills

Highly numerate

Excellent communication

Relationship building

Problem solving

Education

Degree in mathematics/physics/quantitative field

Tools

Python

R

SAS

C/C++

Job description

JOB TITLE: Analyst, Model Risk and Validation

SALARY: £36,224

LOCATION(S): Halifax, Edinburgh, Leeds, Newport

HOURS: Full-time, 35 hours

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.

Why join us?

We're on an exciting journey to transform our Group and the way we're shaping finance for good. We're focusing on the future, investing in our technologies, workplaces, and colleagues to make our Group a great place for everyone.

What we're looking for?

• Highly numerate with a degree-level qualification covering quantitative content such as mathematics, physics or similar module, or similar skills derived from experience. Please include CV with grades, awarding institution and relevant modules studied or relevant projects. Where appropriate include relevant earlier educational qualifications with grades.
• 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++. On your CV please state language and evidence usage.
• 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.

This is a place for you:

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.

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