Associate Director, Portfolio Management and Execution, Treasury

Lloyds Banking Group; Greater London; Hybrid; GBP 120,000 - 160,000; Full time

Benefits offered by this job

Pension up to 15%

Performance bonus

Share schemes

Wellbeing initiatives

30 days holiday

Job summary

Lloyds Banking Group in London is seeking an Associate Director for Portfolio Management and Execution within Treasury to help manage significant balance sheet market risks. You will shape hedging strategies across interest rates, FX, and cross-currency portfolios and provide insights to senior stakeholders.

The role requires strong market knowledge, risk discipline, and the ability to translate macro developments into actionable hedging decisions.

Qualifications

• Proven understanding of financial markets and risk management principles.
• Deep knowledge of bank balance sheets and market risk effects on performance.
• Strong analytical and numerical skills with ability to translate data into insight.
• Ability to communicate complex topics to senior stakeholders.

Responsibilities

• Develop hedging strategies across interest rate, FX, and cross-currency portfolios.
• Manage market risk across the balance sheet and structural hedge.
• Provide market and risk insights to senior partners.
• Assess macro developments and translate into hedging implications.
• Support transaction structuring and hedging execution across entities.

Skills

Financial markets

Risk management

Interest rate derivatives

Executive communication

Macro-economic analysis

Job description

End DateWednesday 18 November 2026Salary Range£0 - £0We support flexible working – click here for more information on flexible working optionsFlexible Working OptionsHybrid Working, Job ShareJob Description SummaryWe 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 DescriptionJOB TITLE: Associate Director, Portfolio Management and Execution, TreasurySALARY: To be agreedLOCATION: London, Old Broad StreetHOURS: Full-timeWORKING 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 opportunityWe 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 youWe 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 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• 30 days’ holiday, with bank holidays on top• A range of wellbeing initiatives and generous parental leave policiesReady for a career where you’ll learn and thrive? Apply today and find out more.This role is considered Certified under the Senior Manager and Certification Regime as either requiring mandatory qualifications or being deemed as a role capable of providing ‘significant harm’ to customers. Due to this, successful candidates will be subject to enhanced levels of vetting, and required to complete a fitness and propriety attestation on commencement in role. Colleagues performing this role will be required to be complete a fitness and propriety attestation on an annual basis and will also be subject to additional routine criminal and credit checksAs a certified colleague your details will be published on the FCA’s Financial Services RegisterThis role has been identified as a Client-dealing function under SYSC 27.8.18R as defined in the FCA HandbookThe Person (“P”) performs the client-dealing FCA certification function for a firm if:(1) P is carrying out any of the activities in the table in SYSC 27.8.19R; and(2) those activities will involve P dealing with:(a) a person with or for whom those activities are carried out; or(b) the property of any such person;in a manner substantially connected with the carrying on of regulated activities by the firm.If you manage certified colleagues this role will be identified as Manager of certification employees under SYSC 27.8.13R as defined in the FCA Handbook(1) The function of managing or supervising a certification employee, directly or indirectly, is an FCA-specified significant-harm function.(2) A function in (1) is not an FCA certification function for that firm if it is performed by an SMF manager of that firm.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.