Associate Director, Portfolio Management and Execution, Treasury

Lloyds Banking Group; Greater London; Hybrid; GBP 90,000 - 130,000; Full time

Benefits offered by this job

Disability adjustments

Disability Confident Leader interview

Job summary

Lloyds Banking Group is seeking an Associate Director in Portfolio Management and Execution within Treasury. You will shape hedging strategies and manage significant balance sheet market risks, translating macro developments into practical recommendations for senior stakeholders.

This hybrid, full-time role requires deep knowledge of financial markets, risk management and bank balance sheets. You will collaborate with Treasury and the wider organisation to optimise hedging and risk controls.

Qualifications

• Strong understanding of financial markets and risk management, with knowledge of interest rate derivatives and other hedging products.
• Deep understanding of bank balance sheets and how market risk can affect financial performance.
• Excellent analytical and numerical skills with the ability to translate data into clear insights.

Responsibilities

• Develop dynamic hedging strategies across interest rate, FX and cross-currency portfolios.
• Manage market risk across the Group's balance sheet, including the Structural Hedge.
• Provide strategic market and risk-management insight to senior partners.

Skills

Financial markets

Risk management

Balance sheets

Hedging strategies

Analytical skills

Stakeholder communication

Job description

End Date

Wednesday 18 November 2026

Salary Range

£0 - £0

Flexible Working Options

Hybrid Working, Job Share

Job Description Summary

We have a rare opportunity to join our Treasury Portfolio Management & Execution team as an Associate Director, helping manage some of the Group's most significant balance sheet market risks.

You'll use your expertise in financial markets, risk management and bank balance sheets to shape hedging strategies and manage key market risks. Combining strong analytical skills with commercial judgement, you'll turn complex market developments into clear insights and recommendations for senior stakeholders.

Job Description

Job Title

Associate Director, Portfolio Management and Execution, Treasury

Salary

To be agreed

Location

London, Old Broad Street

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 a rare opportunity to join our Treasury Portfolio Management & Execution team as an Associate Director, helping manage some of the Group's most significant balance sheet market risks!

At the heart of Treasury, the team manages the Structural Hedge, interest rate, foreign exchange and cross-currency risk portfolios, developing and executing hedging strategies that protect and optimise the Group's balance sheet.

You'll consider changing macroeconomic and financial market conditions alongside the Group's risk exposures, financial objectives and regulatory requirements to help shape effective hedging strategies.

With significant exposure across Treasury and the wider Group, you'll provide insight to senior partners, translating complex market and balance sheet risks into clear recommendations and actions.

What you'll be doing:

• Developing and implementing dynamic hedging strategies across interest rate, FX and cross-currency portfolios.
• Managing market risk across the Group's balance sheet, including the Structural Hedge and other interest rate risk positions.
• Providing strategic market and risk-management insight to senior and executive partners.
• Assessing macroeconomic and financial market developments and translating these into implications for the Group's hedging positions and key financial metrics, including NIM and RoE.
• Providing transaction structuring and hedging execution expertise across legal entities.
• Shaping hedging strategy through the Group's financial planning and internal and external stress-testing processes.
• Building strong relationships across Treasury and the wider organisation to identify risks and opportunities and continuously enhance the management of balance sheet market risk.
• Maintaining a strong risk and control attitude, constructively challenging existing approaches and finding opportunities to improve them.

Why join us?

If you think all banks are the same, you're wrong. We're a pioneering, fast-changing business that's shaping finance as a force for good. If you're after a role where you can have an impact and do the best work of your career, you've just found it.

What we're looking for:

• Strong understanding of financial markets and risk management, with knowledge of interest rate derivatives and other hedging products.
• Deep understanding of bank balance sheets and how market risk can affect financial performance.
• Strong analytical and numerical skills, with the ability to turn data and complex information into clear insight and recommendations.
• Strong knowledge of macroeconomic and financial market developments, with the ability to form a view and translate market movements into potential balance sheet and hedging implications.
• Proven ability to communicate complex technical topics clearly, influence senior partners, build collaborative relationships and apply a strong risk and control attitude.
• And any of these would be great...
• Financial markets execution, transaction structuring or executing hedging strategies.

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 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 want to ensure all our candidates have the opportunity to shine. Please let us know if there is anything we can do to make the sure the assessment process works 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 com