Hybrid Audit Analyst – Quantitative, Actuarial & AI Models

at Lloyds Banking Group

• Job title: Audit Analyst – Quantitative, Actuarial & AI Models
• Job type: Full Time
• Experience level: Mid level, Senior
• Salary: £59,742 - £73,000 per year
• Degree requirement: Postgraduate Degree
• Tech skills: Python
• Location requirements: Hybrid, London, United Kingdom

About the role

• Audit Analyst focusing on risk modelling and actuarial techniques within Lloyds Banking Group's Models Audit team. Deliver high-quality audits and support improvements to current processes while collaborating with stakeholders.

Responsibilities

• Contribute to the delivery of the audit plan, supporting portfolio leads by project managing individual audits.
• Support control testing and identify areas of concern, articulating the potential impact to senior management.
• Build meaningful stakeholder relationships and develop a professional network.
• Proactively suggest and deliver improvements to current audit processes.
• Research industry best practice and regulatory hot topics to analyse key themes and external trends.
• Role model Group values and behaviours.
• Share timely, direct, and effective feedback that contributes to the successful delivery of the audit plan.

Requirements

• Advanced degree in Mathematics, Statistics, or another highly numerate subject.
• Strong knowledge of model risk management and the model life cycle, including associated risks.
• Experience in auditing models, sound knowledge of audit methodology, and understanding of control frameworks.
• Modelling experience (development or validation) in areas such as Trade Pricing Models, Traded Market Risk Models (VAR, IRC, FRTB), Portfolio Models, Counterparty Credit Risk Models, XVA Models, Margin Models, Economic Capital Models, Valuation and Reserve Models.
• Understanding of regulations relevant to Insurance (Solvency UK) and Banking (PRA Rulebook, CRD IV, CRR, Basel, SS1/23, etc.).
• Ability to deliver risk and control assurance activity that is timely, impactful, insightful, and valued by stakeholders, underpinned by a strong understanding of effective model risk management and governance.
• 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.
• Ability to analyse, understand, and communicate data as information, and to use data to drive effective audit outcomes.
• Ability to prioritise work 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.

Benefits

• 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