Audit Manager - Quantitative, Actuarial & AI Models

Join to apply for the Audit Manager – Quantitative, Actuarial & AI Models role at Lloyds Banking Group.

LOCATION(S): London, Edinburgh or Bristol

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 hub locations.

We are hiring two Audit Managers. One with a focus on traded risk and the other for credit risk. The requirements for each are below. These roles provide an excellent opportunity to join the Models Audit team, part of Group Audit. You will work within a leading audit function and gain exposure to a wide range of risk modelling, capital assessment and actuarial techniques across our insurance and banking businesses.

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• Contribute to the delivery of the audit plan, supporting the portfolio leads by project managing individual audits on their behalf.
  
• Support control testing and identify areas of concern, articulating the potential impact to senior management.
  
• Help senior colleagues build meaningful stakeholder relationships whilst developing your own network.
  
• Proactively suggest & deliver improvements to current audit processes by being bold.
  
• Bring the outside in by researching industry best practice and regulatory hot topics to enable analysis of key themes and external trends.
  
• Actively role model the Group values and behaviors.
  
• Put the team first by coaching with purpose, being present with the team and openly communicating expectations.
  
• Freely share timely, direct and effective feedback that contributes to the successful deliver of the audit plan, leaving a positive, sustainable impact on the function.
  

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• Advance degree in Mathematics, Statistics or any other highly numerate subject.
  
• Strong knowledge of the model risk management and generic elements of the model life cycle, and their associated risks.
  
• Experience in auditing models, sound knowledge of audit methodology.
  
• Modelling experience (development or validation) in key areas such as Trade Pricing Models, Traded Market Risk Model (VAR, IRC, FRTB), Counterparty Credit Risk Models, XVA Models, Margin Models, Economic Capital Models, Valuation and Reserve Models.
  
• Understanding of models regulations relevant to banking (Basel 3.1, PRA Rulebook, CRD IV and CRR, FRTB, SS1/23).
  
• The ability to lead and take ownership for audit delivery whilst championing colleagues’ growth and development.
  
• The ability to deliver timely, impactful, and insightful risk and control assurance activities that are valued by stakeholders, underpinned by a strong understanding of effective model risk management and governance.
  
• The ability to understand and interpret Group and Business Unit Strategy and connect audit delivery and business monitoring insights to such strategies at the Macro level.
  
• The ability to analyse, understand and communicate data as information, and to use data to drive effective audit outcomes.
  
• The ability to prioritise your work and that of others effectively to ensure timely and valuable delivery.
  
• Experience working with coding languages such as Python, auditing or reviewing AI/ML models for fairness, explainability, bias and performance.
  

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• Modelling experience (development or validation) in key areas such as credit risk (IRB, IFRS 9), market risk or counterparty credit risk models.
  
• Capital management frameworks and capital regulations relevant to Banking (CRD IV, CRR and Basel).
  

Like the modern Britain we serve, we are evolving. Investing billions in our people, data and tech to transform the way we meet the ever-changing needs of our 26 million customers. We are growing with purpose. Join us on our journey and be part of it!

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• 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 policies
  

Our focus is to ensure we are inclusive every day, building an organisation that reflects modern society and celebrates diversity in all its forms. We want our people to feel that they belong and can be their best, regardless of background, identity or culture. 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. And it is why we especially welcome applications from under‑represented groups. We are disability confident. So, if you would like reasonable adjustments to be made to our recruitment processes, just let us know.