Address
Form of work
SalaryWednesday 28 February 2024
Salary Range
£77,301 - £85,890
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Agile Working Options
Job Share, Other Agile Working Arrangements / Open to Discussion
Job Description Summary
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Job Description
JOB TITLE: Specialist Manager, Finance Valuation Control
LOCATION: London
HOURS: Full time
WORKING PATTERN: Hybrid, 40% (or two days) in an office site
About this opportunity
Finance Valuation Control (FVC) operates as a centre of excellence for the oversight of Valuation Controls and production of independent valuations. These are used for accounting and regulatory purposes. It sits within Commercial Banking Finance in the overall Lloyds Banking Group Finance function.
The FVC Specialist team (SV) works in partnership with the other FVC teams who cover, Derivatives & Prudential Valuations, Insurance, Change and End User developments. It focuses on fair values related to banking book businesses including those arising from issuances, private equity, investment property, credit assets, facilities and securitization exposures and includes XVAs for derivatives.
We offer the chance to join an established Valuation Control team and build a career in banking, with extensive connections to a range of banking and trading businesses and technical support functions.
The role provides the opportunity to own an independent valuation life cycle, incorporating both strategic tools and tactical solutions, whilst developing valuation insights, reporting and controls.
About us
We’re on an exciting journey to transform our Group and the way we’re shaping finance for good. We’re focusing on the future, investing in our technologies, workplaces, and colleagues to make our Group a great place for everyone. Including you.
The role will
- Support the Independent price verification (“IPV”) of all pricing parameters used in the production of IPV reporting for their assigned portfolios and models.
- Engage in new business development projects where additional assets are required to be measured at fair value, noting the different implications associated with different IFRS classifications.
- Help with New Product Approvals from Valuations perspective within GCT, Retail, Loan markets and other areas for securitisation business.
- Help with Prudential Valuation calculations on FVBB assets and work with Market Risk counterparts on streamlining Pillar 1 &2 reg with Prudential Valuations.
- Able to manage significantly new disclosure and hedging requirements per changes to reporting and regulatory standards, as also to acknowledge the risk that more assets will have to be measured at fair value with changes recognised in profit and loss as they arise.
- Run updates to documentation on valuations including processes, controls as well as methodologies and models.
- Oversight the Banking Book non-vanilla E2E operating model to ensure controls are operating and the ledger data can be assured each month to key stakeholders
- Write and present commentary on results, trends and observations to Business Partners and other Finance stakeholders, thereby demonstrating a deep and commercial understanding of the drivers of fair value.
What we need
The role is for a finance professional with experience in banking or financial markets. You'll need a working understanding of the financial mathematics that is used for building yield curves and in discounted cashflow techniques. Proficiency in Microsoft Excel is expected and knowledge of Visual Basic for Applications (VBA), SQL or other coding languages would be useful.
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 bonus award, subject to Group performance
- 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
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.
