Job Description
Core purpose of the role
An opportunity has arisen within FVC to undertake valuation oversight, independent valuations and sensitivities analysis for banking book exposures with fair value accounting.
Using a range of Finance skills and working closely with the Finance business partners, the Front office, and Quantitative teams, the work will cover not just valuation issues but will also help with preparations for new transactions and crafting accurate forecasts and business plans.
The opportunity could be ideal for a numerically minded person, with some financial services experience in product control, IPV, audit, risk or portfolio management, who is looking to improve their decision support capabilities and develop a great understanding of fair value techniques. Responsibilities will include:
Delivering valuations and uncertain metrics on banking book fair value exposures and related positions in other regulated entities. Agreement of the outcomes with Front Office representatives.
Engaging with business leads and Finance partners on the results and sensitivities and their wider business and economic implications.
Adding to the development of methodologies allied to the needs of accounting policy, model governance and regulatory standards.
Producing valuation attribution based on model factors and risk parameters and provision of valuation commentaries to Business Partners.
Contribution to the review of business investment appraisals and revised financial plans.
Tracking of Fair Value economics between reporting periods
Modelling the forward projection of potential outcomes based on economic assumptions for financial forecasts and plans
Portfolio analysis for financial disclosures.
Delivery and improvements to MI packs, papers and governance for meetings including Valuation Committees.
Support of the Head of Valuations and Head of Business Partnering in areas such as the impacts of new business proposals or in the investigation of valuation basis differences between related assets or portfolios.
What we are looking for
Suitable candidates should be looking to develop their career at the Lloyds Banking Group with its purpose of Helping Britain Prosper and its core values of Trust, Putting People First, Embracing our Differences, and Being Bold.
Essential Skills & Experience Required
Experience of working in financial services and understanding fair value balance sheets such as from product control, FP&A, banking business partnering, independent pricing, risk or portfolio management.
Strong numeracy with some knowledge of financial mathematics, such as the principles in building yield curves for valuation of assets via discounted cashflow models.
Experience in the use financial risk metrics such as rate and spread sensitivities.
Proficiency in the use of Excel, including for financial models and financial analysis.
Team player with a collaborative working style with a desire to engage with others and learn from the in-house experts.
Good written and verbal communication skills.
Additional experience or knowledge that is not crucial, but would be advantageous, includes:
Experience and knowledge of securitization, derivative or illiquid credit valuations either directly or from activities such as audit or consultancy.
Experience and knowledge of the financial controls related to a bank's regulatory trading and banking books.
Experience of working in a financial control environment including interaction with auditors and SOX.
Experience and knowledge in the use and research from standard market data sources such as Bloomberg.
Advanced understanding of mathematics concepts that are used within the valuation of complex derivatives, securities and credit instruments.
Proficiency in use of VBA or mathematical coding languages or database tools.
Experience in the use of internal quantitative libraries of mathematical models.
Delivery of high quality written committee papers or model documentation.
What we offer?
The role is a significant opportunity for the right candidate to develop a strong understanding of the Finance activities within wholesale banking and gain a refined knowledge of the financial and mathematical concepts used in the fair value of financial instruments. This role can be a platform for a long and successful career in Lloyds Banking Group across a wide range of functions and activities.
Remuneration will be at the market rate based on the candidates' experience and capabilities and will also benefit from Lloyds Banking Group's competitive package of employee benefits, pension and 30 days paid leave. In addition, there is a discretionary annual award based on performance.
How will we support you?
As a colleague of the Group, we can 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.
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're an equal opportunity employer and deeply value diversity within our organisation.
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.
Together we make it possible!
