Audit Analyst - Models

End Date
Friday 08 March 2024
Salary Range
£45,054 - £50,060
We support agile working - click here for more information on agile working options.
Agile Working Options
Hybrid Working
Job Description Summary
As an Analyst within the Models Audit team you will use your technical expertise to support the delivery of the audit plan by performing risk based audits. Through this you will harness a deep understanding of business priorities, risks, and controls to provide reliable, independent assurance and agree management actions to enhance the model risk management control framework.
Job Description
JOB TITLE: Audit Analyst - Models
LOCATION(S): 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 Bristol, Edinburgh or London hubs.
About this opportunity:
Do you want to join a leading internal audit function to gain exposure to a wide range of risk modelling, capital assessment and other analytical techniques across banking and insurance businesses?
Day to day, you’ll:

• Work collaboratively across the risk / business audit matrix to develop an understanding of business priorities and risk appetite relevant to assigned audits, identify key controls, and evaluate their design effectiveness.
• Complete testing of key controls for assigned audits, including substantive testing and quantitative analysis, to evaluate their operational effectiveness.
• Highlight any control deficiencies for assigned audits and draft issues and actions for inclusion in audit reports.
• Deliver assigned areas of audits within agreed timescales, through collaboration with other colleagues keeping the Engagement Lead (EL) updated on progress and reporting issues and concerns promptly.
• Apply the Group Audit methodology and standards to identify and deliver high quality findings and robust supporting files.
• Ensure management actions address the root cause of findings, all findings are reported, followed up and management proposals to close are credible and fully supported by evidence ahead of recommending closure to the EL/Head of.
• Embrace continuous improvement through supporting change initiatives.
• Motivate, develop and collaborate within own team and across the wider function to drive higher performance and sustained results.
• Establish and build relationships with stakeholders to educate the business in the control framework and influence business processes and required actions to deliver control improvements.

Why Lloyds Banking Group
We’re on an exciting journey and there couldn’t be a better time to join us. The investments we’re making in our people, data, and technology are leading to innovative projects, fresh possibilities, and countless new ways for our people to work, learn, and thrive.
What you’ll need:
Ideally, you'll be technically oriented, and may be working towards professional qualifications in a quantitative discipline. An important part of the role is to review, challenge and identify areas of improvement. You’ll therefore be comfortable understanding the underlying methodologies and assumptions of models and their development and use.
As well as these technical requirements, it is key that you also possess excellent analytical, presentational, report writing, and communication skills. We'd like you to have an interest in and a wider appreciation of the business context of models and stress testing, and be able to demonstrate commercial awareness.
We understand no one can be an expert in every aspect of Modelling but you must have a knowledge of all or some of the following:

• Understanding of the generic elements of a model life cycle, and their associated risks;
• Effective model risk management and governance;
• Regulatory capital requirements in Insurance and/or Banking;
• Statistical analysis and qualitative techniques for validating models;
• Credit risk modelling, regression based models, retail credit risk scorecards, credit provision modelling techniques;
• Stress testing and scenario analysis, including qualitative and quantitative techniques for firm wide stress testing, and knowledge of econometric modelling and forecasting;
• Actuarial and Insurance modelling, including reserving pricing, stress testing, capital and insurance risk modelling;
• Analysis and modelling of market and credit risk, Value at Risk (VaR) and generic risk measures such as Greeks and stress testing;
• Traded products valuation models (all product types).

About working for us
Our focus is to ensure we're 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’s why we especially welcome applications from under-represented groups. We’re disability confident. So if you’d 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.
• 28 days’ holiday, with bank holidays on top.
• A range of wellbeing initiatives and generous parental leave policies.

Want to do amazing work, that’s interesting and makes a difference to millions of people?Join our journey!
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.