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LBG Returners - Valuations Analyst

Lloyds Banking Group

Job Description

End Date

Thursday 26 May 2022

Salary Range

£57,861 - £75,710

We support agile working - click here for more information on agile working options.

Agile Working Options

Other Agile Working Arrangements / Open to Discussion

Job Description Summary

About us

At Lloyds Banking Group were 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.

As part of Finance Valuation Control within Commercial Banking Finance you'll have the opportunity to make a real difference by telling the story of Lloyds Banking Group Insurance's (LBGI) performance both externally and internally, giving real insight to influence strategic decision making and ensuring clear and compliant communication of LBGIs financial asset information to internal and external partners.

Job Description

Core purpose of the role

The role is a manager role within the Finance Valuation Control Insurance team, reporting to the Senior Manager that leads this team of 11 colleagues. The team operates within the Groups Finance Control Framework with responsibilities covering listed and non-listed assets including model ownership, valuation operations and controls for a large portfolio and range of illiquid, non-traded credit assets as well as for debt, equity, property and derivatives all held in different purpose portfolios principally under the Scottish Widows (SW) brand and Group. The Insurance Valuation Control team analysts are part of the wider Finance Valuation Control function that also supports the Corporate Markets Businesses, Treasury and Lloyds Principal Investment activities.

The main area of focus for this role is the oversight of the fund management activities principally for the linked and with profits portfolios, including all aspects of the price sourcing agreement operated by our fund administrator. The role includes review of fair value adjustments, setting of tolerances and oversight of exceptions, aggregate valuation attribution and corroborative analytical review as well as maintenance of the models and the end reporting of valuation uncertainty for the less observable and illiquid assets & derivatives.

More specifically, this may include;

  • Review of comparable valuations and understanding the drivers and basis differences.
  • Assessment of market data inputs, review of Interpolation and extrapolation methodologies.
  • Analysis of observability, liquidity & market depth.
  • Attribution analysis, monitoring of uncertainty metrics and stress testing
  • Consideration of alternative valuations and/or alternative market data inputs.
  • Dispersion in market data and reasonable stress scenarios.
  • Credit actions, corporate actions and implications.
  • Valuation MI, valuation controls and position tracking.
  • Consideration of industry developments and regulatory change consultations.
  • Presentation of valuation analysis and investigations to the Head of Valuations, steering groups and executive valuation committees and strengthening visibility across a wider range of internal partners.

Liaison with external partners such as the Fund Management group, Fund Administrator and other 3rd party services.

As a team, we encourage knowledge share and a resourceful feedback loop with the aim of team and individual development. We strive to invest in our process for simplification and to increase the level of beneficial work.


A strong technical analyst, with substantial experience in the valuation of financial instruments and/or derivatives, a track record in operating valuation controls and a proven capability to understand key financial mathematical components, analyse valuation drivers and succinctly and accurate present valuation results and management information to technical and non-technical audiences.

Knowledge across multiple asset classes would be desirable especially derivative variants of asset classes.

Experience of working in a financial control environment and comfortable dealing with SOX responsibilities and auditor interaction

The ability to work optimally and proactively within a small group or wider team and be able contribute to the continuous improvement of the valuation analysis and reporting processes.

Crucial experience

Proven experience in applying financial mathematics and product market conventions in activities such as building yield curves / discount curves for valuing financial instruments for accounting fair value purposes A proficiency in Microsoft Excel for modelling and presentation of results. Understanding of market risk metrics across linear and simple non-linear products. Proven experience in building collaborative relationships with external suppliers, internal market facing deal teams and internal risk management functions. Experience of working in a SOX control environment and effectively managing interactions with auditors and regulators. Strong communication skills when explaining sophisticated analysis and presenting technical information to a range of partners with difference focus and expertise. Track record as a standout colleague demonstrating behaviors consistent with LBG values, of Innovation, Trust, Inclusivity with a People First approach.

Desirable additional skills and experience

Experience of option pricing theory and models Proficiency in use of VBA, R or SQL or other languages. Product Control experience or Actuarial skills. Qualifications in CFA or accountancy

What we Offer?

The opportunity to develop comprehensive understanding of financial and mathematical concepts used in the valuation and banking arena with the ability to further technical skills in a knowledgeable setting by covering numerous asset classes. In addition development of knowledge of valuation models and the associated need thereafter to produce numerical financial analysis, reporting, insight and control.

Furthermore, as part of a wider Finance Valuation Control Function, there will be a number of ways for you to enhance your communication, collaboration, influencing and partner management skills.

How will we support you?

As a colleague of the Group, well provide you with continuous training and development opportunities and regular career development conversations to help you fulfil your career potential, whatever your aspirations may be.

A supportive, collaborative approachable team who will engage with new members continuously to building their knowledge via a formal training plan, allowing them to reach their full potential over time.

Reward Package:

In addition to the salary quoted, the position also offers:

  • Discretionary Performance Share Award
  • Generous pension contribution
  • A flex benefits cash pot you can adjust to suit your lifestyle (4% on top of your basic salary)
  • Private health cover
  • Share schemes
  • 30 days holiday plus bank holidays

At Lloyds Banking Group were building an inclusive, values-led culture where colleagues feel included and recognised for their contributions. We're committed to building a workforce which reflects the diversity of the customers and communities we serve, and to building an inclusive environment where all our colleagues can be themselves and succeed on merit. This role provides an opportunity to develop personally, work flexibly and collaboratively with a results-oriented team, to help us bring to life the Groups vision of being the Best Bank for Customers & colleagues.

We're a founder member of the Agile Future Forum, a group of leading UK employers supporting flexible working. We're happy to consider options other than 9-to-5 office-based work. To us "Agile working" is more than working flexibly - it's about entrusting colleagues to think creatively about how, when and where they work, to deliver their very best.

We'll ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

We're an equal opportunity employer and deeply value diversity within our organisation.

So if youd like to work in a challenging Valuations role in an environment with quality at the heart of thinking, whilst gaining skills and experience within a friendly and motivated team then get in touch, we'd love to hear from you.

Together we make it possible!

At Lloyds Banking Group, we're driven by a clear purpose; to help Britain recover. 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'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 were building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.

Apply now

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