Quantitative Analyst – Model Validation

TN United Kingdom; Leeds; Hybrid; GBP 40,000 - 80,000; Full time

Job summary

An established industry player is seeking a highly motivated individual to join their Model Risk and Validation team. This exciting role offers the chance to work on derivative pricing models, providing independent review and analysis. The successful candidate will develop and benchmark pricing models, perform qualitative analysis, and ensure compliance with regulations. The company promotes a hybrid work environment, fostering inclusivity and personal development while offering competitive benefits. Join a dynamic team that values diversity and aims to make a significant impact in the financial services sector.

Benefits

Generous pension contribution

Annual performance-related bonus

Share schemes

Flexible benefits

30 days’ holiday plus bank holidays

Wellbeing initiatives

Parental leave policies

Qualifications

• Higher qualification in a quantitative discipline such as Mathematics or Finance.
• Experience in a Model Validation or Front Office Quant role.

Responsibilities

• Develop and benchmark pricing models using C++ or Python.
• Perform qualitative analysis and stress testing of pricing models.

Skills

C++

Python

Analytical Skills

Communication Skills

Mathematical Modeling

Education

Master's in Mathematics

Master's in Finance

Job description

Location: London, Bristol or Leeds

Hours: Full-time

Working Pattern: Our work style is hybrid, involving at least two days per week, or 40% of our time, at one of our office sites.

An excellent opportunity for a highly motivated applicant to join the Model Risk and Validation team within Lloyds Banking Group. This is an exciting chance to be part of a dynamic team in a changing and challenging environment, offering considerable scope for personal development.

About this opportunity

You will join the Pricing Model Validation team, which covers valuation models for Lloyds Banking Group. The team is responsible for the independent review and analysis of derivative pricing models used for valuation and risk.

Responsibilities:

1. Develop and benchmark pricing models in an independent code library using C++ or Python.
2. Provide theoretical analysis and review of pricing models across asset classes, understanding the mathematical models and their implementation methods.
3. Perform qualitative analysis and stress testing of pricing models used for pricing and risk calculations.
4. Model the annual review process for pricing models.
5. Undertake algorithmic trading validation work to ensure compliance with MiFID regulation.
6. Undertake trade surveillance validation work to ensure compliance with FCA regulation.

Why Lloyds Banking Group

Join us and, besides making a difference to customers, enjoy a fulfilling career where you can be yourself. Great colleagues, transforming workspaces, hybrid working, and a wide variety of career opportunities await you.

What you’ll need

• A numerical or statistical background, evidenced by a higher qualification at least Masters level in a quantitative discipline such as Mathematics or Finance, or demonstrated commercial experience in a quantitative role.
• Experience in a Model Validation or Front Office Quant role.
• Programming experience in C++ and/or Python.
• Theoretical understanding and familiarity with derivative pricing models, stochastic calculus, partial differential equations, and Monte Carlo simulation.
• Strong analytical skills.
• Excellent written and oral communication skills, with the ability to communicate complex quantitative models clearly and concisely.
• The ability to work independently to meet deadlines and under time pressure.

About working for us

We are committed to inclusivity, building an organization that reflects modern society and celebrates diversity in all its forms. We want our people to feel they belong and can be their best, regardless of background, identity, or culture. We have set diversity goals, created health initiatives, and welcome applications from underrepresented groups. We are disability confident, and can provide reasonable adjustments during recruitment upon request.

Our benefits include:

• A generous pension contribution of up to 15%
• An annual performance-related bonus
• Share schemes, including free shares
• Flexible benefits such as discounted shopping
• 30 days’ holiday plus bank holidays
• Wellbeing initiatives and parental leave policies

Join us and do meaningful work that impacts millions.

At Lloyds Banking Group, our purpose is to help Britain prosper. Our colleagues focus on making a difference to customers, businesses, and communities. With us, you'll have opportunities to learn, grow, and shape the future of financial services.

We prioritize data safety. We will only ask for confidential or sensitive information during formal interview invitations or after accepting an offer, when background checks are conducted. We will explain what we need and why, from trusted Lloyds Banking Group representatives.

We are dedicated to creating a values-led, inclusive culture and building a workforce that reflects the diversity of our customers and communities. Together, we are creating a workplace where everyone can make a meaningful impact.