Assistant Manager, Model Validation Quant

Lloyds Banking Group; Broad Street; Hybrid; GBP 65,000 - 73,000; Full time

Benefits offered by this job

Pension up to 15%

Annual bonus

Share schemes

Discounted shopping

28 days holiday

Wellbeing initiatives

Parental leave

Job summary

Lloyds Banking Group in London is recruiting an Assistant Manager, Model Validation Quant to join the Markets & AI Modelling team. You will engage in independent review of pricing models used for valuation and risk management, contributing to rigorous standards across the group.

The role focuses on developing and validating models across asset classes, with emphasis on C++ and Python, Monte Carlo methods, and regulatory expectations.

Qualifications

• Master’s degree or higher in a quantitative field.
• Solid understanding of derivative pricing models and stochastic calculus.
• Excellent problem-solving and time management.
• Strong written and verbal communication, with clear explanations.
• Ability to work independently and meet deadlines.

Responsibilities

• Deliver in-depth assessments of pricing models across asset classes.
• Independent benchmark Front Office models using C++ and Python.
• Perform qualitative analyses and stress tests of model performance.
• Compile validation reports detailing findings and recommendations.
• Develop and maintain internal tools to support model validation.

Skills

C++

Python

Derivatives

Stochastic calculus

Quantitative finance

Communication skills

Education

Master's degree in a quantitative discipline

Tools

C++ libraries

Python libraries

Job description

End Date

Monday 24 August 2026

Salary Range

£65,304 - £72,560

We support flexible working – click here for more information on flexible working options

Flexible Working Options

Hybrid Working, Job Share

Job Description Summary

JOB TITLE: Assistant Manager, Model Validation Quant

SALARY: £65,304 - £72,560

LOCATION: London

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. Colleagues with disabilities can be supported with workplace adjustments including hybrid working expectations in line with our Flexibility Works policy.

Job Description

What you'll be doing

An excellent opportunity has arisen for a highly motivated applicant to join the Model Risk Office at Lloyds Banking Group. This is an exciting opportunity to be part of a dynamic team in a changing and challenging environment, which offers considerable scope for personal development.

Become part of the Markets & AI Modelling team which covers pricing models, counterparty risk models, and AI technology. Our team provides independent review and challenge of derivatives pricing models used for valuation and risk management—helping to ensure that the Group maintains rigorous standards and robust practices across its operations.

Day to day, responsibilities include:

• 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 measure model performance.
• Compile comprehensive validation reports that clearly detail your findings and recommendations.
• Develop, enhance, and maintain internal tools that support and streamline the model validation process, contributing to the team’s overall efficiency and impact.

Why join us?

We’re transforming at pace. Investing billions in our people, data and tech to change the way we meet the needs of our 28 million customers. We’re growing, and we’d love you to be part of the journey.

What we’re looking for?

• A Master’s degree or higher in a quantitative discipline (e.g., Mathematics, Physics, Quantitative Finance) or equivalent experience in a quantitative role.
• A solid theoretical understanding of, and familiarity with, derivative pricing models, stochastic calculus, partial differential equations and Monte Carlo methods.
• Excellent problem-solving and time management skills.
• Strong written and verbal communication skills, with the ability to articulate complex mathematical concepts clearly and concisely.
• The ability to work independently, meet deadlines, and perform well under time pressure.

We know that great talent comes from many backgrounds. Whilst this job advert may reference specific years of experience, we recognise that skills are developed in many ways, so if you have relevant, transferable experience, we encourage you to apply.

And Any Experience Of These Would Be Great

• Prior experience in a Model Validation or Front Office Quant role.
• 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.

This is a place for you

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 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

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.