Assistant Manager, Model Validation Quant

Lloyds Banking Group; Greater London; Hybrid; GBP 63,000 - 71,000; Full time

Job summary

A leading financial institution in London is looking for an Assistant Manager in Model Validation Quant to conduct in-depth assessments of pricing models and enhance internal tools. This role offers the opportunity to work in a dynamic team while contributing to rigorous standards in model risk management. Candidates should possess a Master's degree in a quantitative discipline, strong problem-solving, and communication skills. The hybrid work model includes competitive compensation and a comprehensive benefits package.

Benefits

Generous pension contribution of up to 15%

Annual performance-related bonus

Share schemes including free shares

Discounted shopping benefits

28 days holiday with bank holidays on top

Wellbeing initiatives and parental leave policies

Qualifications

• A solid theoretical understanding of derivative pricing models, stochastic calculus, and Monte Carlo methods.
• Ability to independently benchmark pricing models and perform qualitative analyses.
• Strong written and verbal skills to communicate complex concepts clearly.

Responsibilities

• Deliver in-depth theoretical assessments of pricing models.
• Independently benchmark Front Office pricing models.
• Compile comprehensive validation reports detailing findings.

Skills

Problem-solving

Time management

Communication

Education

Master's degree in a quantitative discipline

Tools

C++

Python

Job description

Assistant Manager, Model Validation Quant

Salary: £63,711 - £70,790

Location: London

Hours: Full-time

Working pattern: Hybrid – at least two days per week (40% of time) at one of our office sites.

About this Opportunity

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 Lloyds Banking Group

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 – including you.

What you’ll need

• 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 derivative pricing models, stochastic calculus, PDEs 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.

And any experience of these would be really useful

• 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.

About working for us

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.

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

We offer reasonable workplace adjustments for colleagues with disabilities, including flexibility in office attendance, location and working patterns. 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.

Benefits package

• 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

Ready for a career where you can have a positive impact as you learn, grow and thrive?

Apply today and find out more.