End Date Friday 05 December 2025 Salary Range £0 - £0 We support flexible working – click here for more information on flexible working options Flexible Working Options Hybrid Working, Job Share Job Description Summary - Job Description JOB TITLE: Audit Manager - Quantitative, Actuarial & AI Models SALARY: £87,500 - £107,000 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. About this opportunity 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 provides 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. As an Audit Manager you will lead the delivery of high-quality risk-based audits by harnessing a deep understanding of business strategy/priorities, controls, and risks to provide insightful independent assurance on the effectiveness of controls. Day to day responsibilities include; 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. Why Lloyds Banking Group 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! Traded Risk: What you will need: 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 prioritize 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. Credit Risk (In addition to the above): What you will need: Modelling experience (development or validation) in key areas such as credit risk (IRB, IFRS 9), market risk or counterparty credit risk models. And any experience of these would be useful: Capital management frameworks and capital regulations relevant to Banking (CRD IV, CRR and Basel). About working for us 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. 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 policies If you are excited by the thought of becoming part of our team, get in touch. We would love to hear from you! 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. With 320 years under our belt, we're used to change, and today is no different. Join us and help drive this change, shaping the future of finance whilst working at pace to deliver for our customers. Here, you'll do the best work of your career. Your impact will be amplified by our scale as you learn and develop, gaining skills for the future. Should you wish to contact us for any reason, please email us at: careers@lloydsbanking.com For more Flexible Working Options please use the free text search, e.g. job sharing, variable hours, to identify relevant matches.