Assistant Manager - Banking Book Market Risk

Lloyds Banking Group; City of Edinburgh; On-site; GBP 55,000 - 62,000; Full time

Job summary

A leading financial institution in Edinburgh is seeking an Assistant Manager - Banking Book Market Risk to join the ALM Risk team. This hybrid role offers a salary between £55,755 and £61,950. Responsibilities include risk oversight, regulatory reporting, and supporting team initiatives. Candidates should have experience in banking book market risk, strong communication skills, and familiarity with data visualisation tools like Power BI. The company promotes diversity, equity, and inclusion, and offers generous benefits including bonuses and pension contributions.

Benefits

Generous pension contribution of up to 15%

Annual performance-related bonus

Share schemes including free shares

28 days' holiday

Wellbeing initiatives

Qualifications

• Experience in banking book market risk / asset and liability management risk.
• Confident asking difficult questions and presenting to senior stakeholders.
• Willingness to develop knowledge across retail banking products and derivatives.

Responsibilities

• Review and challenge monthly risk metrics and regulatory reporting.
• Attend Divisional ALCOs and contribute to market risk framework improvements.
• Participate in broader team-wide initiatives across Liquidity and Pensions Risk.

Skills

Experience in banking book market risk

Strong written and verbal communication skills

Problem solving and logical thinking

Experience with data visualisation tools

Tools

Power BI

Tableau

Job description

JOB TITLE

Assistant Manager - Banking Book Market Risk

SALARY

£55,755 - £61,950

LOCATION(S)

Edinburgh

HOURS

Full Time

WORKING PATTERN

Our work style is hybrid, which involves spending at least two days per week, or 40% of our time, at one of our office sites.

About this opportunity

We have an exciting opportunity for an Assistant Manager to join the Asset & Liability Management (ALM) Risk team within Liquidity, ALM and Pensions Risk. This role offers exposure to a dynamic environment and great opportunities for personal growth.

Our team provides robust, informed oversight of market risks in the Group's banking book, operating at Group level across key legal entities including the Ring-Fenced Bank and Lloyds Bank Corporate Markets (LBCM). To do this role well, you'll excel at critical thinking and problem solving. You'll also enjoy challenging received wisdom and be able to think creatively about risks that others may have missed. You'll be keen to work as a member of a small, specialist team.

This role involves leading on some activities and supporting the wider team on others, gaining exposure to Group Corporate Treasury and the business.

Key responsibilities include:

• Risk Oversight: Review and challenge monthly risk metrics (NII/MV/EVE), regulatory reporting, ALM models and assumptions.
• Governance & Policy: Annual review and attestation of Market Risk Policy & Procedures; review of annual disclosures and ICAAP submission.
• Engagement & Development: Attend Divisional ALCOs; contribute to market risk framework improvements; actively maintain a high level of sector knowledge through both internal contacts and external sources; undertake ad-hoc projects and build effective relationships with key partners, providing expert guidance on market risk issues.
• Broader exposure: Participate in broader team-wide initiatives across Liquidity and Pensions Risk.

Why Lloyds Banking Group

If you think all banks are the same, you'd be wrong. We're an innovative, fast‑changing business that is shaping finance as a force for good. A bank that is empowering its people to innovate, explore possibilities and grow with purpose.

What you'll need

• Experience in banking book market risk / asset and liability management risk.
• You'll be a self‑starter who embraces new challenges and manages your own time and learning effectively.
• Strong written and verbal communication skills, as well as an ability to build relationships across teams.
• You'll enjoy problem solving, logical thinking and using your initiative across a wide variety of work.
• Have an interest in current affairs both in the UK and globally.
• Confident asking difficult questions, challenging constructively and have experience of presenting to and influencing senior stakeholders.
• Comfortable making and rationalising decisions
• Experience with data visualisation tools such as Power BI or Tableau is desirable.

You’ll also have a willingness to develop knowledge across areas such as:

• Retail Banking products
• Derivatives used to manage and hedge market risk
• Risk metrics, their calculation and usage (NII/MV/EVE)
• Economics, and the practical application across financial markets Regulations, their application, and impact on the banking industry

About working for us

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 were one of the first major organisations to set goals on diversity in senior roles, create a menopause health package, and a dedicated Working with Cancer Initiative.

We offer reasonable workplace adjustments for colleagues with disabilities, including flexibility in office attendance, location and working patterns. And, as a Disability Confident Leader, we guarantee interviews for a fair and proportionate number of applicants who meet the minimum criteria for the role with a disability, long‑term health or neurodivergent condition through the Disability Confident Scheme.

We provide reasonable adjustments throughout the recruitment process to reduce or remove barriers. Just let us know what you need.

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

If you're excited about being part of our team, get in touch. We'd love to hear from you!