Assistant Manager - Credit Ratings - Insurance, Pensions & Investments Finance

End Date

Monday 17 February 2025

Salary Range

£61,263 - £68,070

We support flexible working – click here for more information on flexible working options

Flexible Working Options

Flexibility in when hours are worked, Hybrid Working, Job Share, Reduced Hours

Job Description Summary

TITLE: Assistant Manager - Credit Ratings
LOCATION: London, Edinburgh or Bristol
HOURS: 35 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 office sites.
Part of a specialist modelling team focused on building and delivering industry leading models within the Group. Responsible for ensuring specific models are appropriately validated, monitored and managed in line with Group and regulatory standards.

Job Description

About the Role

This Assistant Manager position is an exciting opportunity within the Specialist Actuarial Assumptions and Methodology Team, part of the Actuarial Function within Insurance, Pensions & Investments Finance.

We’re responsible for designing the methodologies and models used to set credit ratings for our portfolio of loan assets backing the Scottish Widows annuity portfolio. As part of your responsibilities, you'll be involved in building and maintaining our credit rating methodologies for various asset classes, such as Project Finance, Higher Education, Social Housing or Commercial Real Estate. You'll ensure our rating approach keeps pace with changes in the external environment and the asset portfolio, as well as finding opportunities to streamline and simplify our modelling. You'll develop knowledge of the risks facing our assets and how to allow for this in credit ratings.

We'll expect you to bring experience and skills around developing, testing and documenting models and we'll support you in improving your skills. Experience in analysing or modelling corporate or structured finance credit risk would be an advantage. You'll use and develop your interpersonal skills through interaction with model users to seek their input on model design and ensure they understand how to use the models. Creativity in recommending solutions and dedication to driving delivery will set you up for success in this role.

Key Responsibilities

• Build and maintain new credit rating models.
• Write methodology and model documentation.
• Monitor portfolio experience and model performance to find opportunities for improvement.

Requirements

• Technical skills in Excel and VBA, and other MS Office tools.
• Experience of model development including design, testing and implementation.
• Understanding of fixed income credit risk.
• High attention to detail with excellent ability to manage priorities.
• Able to effectively communicate insights and results.

Desirable

• Practical experience of credit ratings (e.g. from experience at a Credit Rating Agency).
• Knowledge of structured finance.

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.
• 28 days’ holiday, with bank holidays on top.
• Wellbeing initiatives and generous parental leave policies.

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.

If you like the idea of joining us, please do apply!

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.