Audit Analyst - Quantitative, Actuarial & AI Models

Audit Analyst - Quantitative, Actuarial & AI Models: An Opportunity for Growth at Lloyds Banking Group

For aspiring professionals with a strong quantitative background and a keen interest in the evolving landscape of financial risk and artificial intelligence, this Audit Analyst position at Lloyds Banking Group presents a compelling career opportunity. This role offers a chance to delve deep into the critical areas of model risk management, capital assessment, and cutting-edge AI, all within a supportive and forward-thinking organization.

Key Advantages for Candidates:

• Impactful Role: As an Audit Analyst, you will play a vital role in providing independent assurance on the effectiveness of controls within insurance and banking businesses. Your work will directly contribute to safeguarding the financial health and integrity of a major financial institution.
• Specialized Expertise: The role offers a unique chance to develop and hone expertise in highly sought-after domains, including model risk management, actuarial techniques, and the auditing of AI/ML models. This specialization is invaluable in today's data-driven financial world.
• Diverse Modelling Exposure: You will gain exposure to a wide array of critical models, from Trade Pricing and Traded Market Risk to Economic Capital and Valuation. This breadth of experience will significantly enhance your understanding of complex financial operations.
• Career Development and Learning: Lloyds Banking Group demonstrates a clear commitment to investing in its people. This role encourages proactive learning, with opportunities to research industry best practices and regulatory hot topics. The emphasis on sharing feedback and improving audit processes also fosters continuous professional growth.
• Flexible Working: The organization actively supports a hybrid working model, allowing for a balance between in-office collaboration and remote flexibility. This approach acknowledges the importance of work-life integration.
• Comprehensive Benefits: Beyond the core responsibilities, candidates can expect a generous benefits package, including a substantial pension contribution, performance-related bonuses, share schemes, and a range of wellbeing initiatives.
• Inclusive Culture: Lloyds Banking Group champions diversity and inclusion, actively striving to create a workplace where everyone feels they belong and can thrive.

Key Considerations for Your Career Path:

• Numerate Foundation is Crucial: A strong academic background in Mathematics, Statistics, or a similarly quantitative field is a prerequisite. This role demands a high level of analytical rigor and problem-solving ability.
• Model Risk Management Focus: Deep knowledge of model risk management principles and the entire model lifecycle is essential. Candidates should be prepared to demonstrate a solid understanding of associated risks.
• Audit Methodology Experience: While modelling experience is highly valued, a sound knowledge of audit methodology and control frameworks is equally important to effectively assess and test models.
• Regulatory Awareness: Familiarity with key regulations in both the insurance (Solvency UK) and banking (PRA Rulebook, Basel, etc.) sectors will be critical for understanding the context and compliance requirements of the models you will be auditing.
• Data Analysis and Communication: The ability to not only analyze and interpret data but also to communicate complex findings clearly and concisely to senior management is paramount. Experience with coding languages like Python is a significant advantage, particularly for AI/ML model auditing.
• Strategic Alignment: A key aspect of this role is understanding and connecting audit findings to the broader Group and Business Unit strategies. Candidates should be able to think at a macro level and articulate the strategic implications of their work.
• Proactive and Improvement-Oriented: The description highlights the desire for individuals who can proactively suggest and deliver improvements. This role is ideal for someone who is keen to contribute beyond their immediate responsibilities and drive positive change within the audit function.

This Audit Analyst position offers an exceptional opportunity for ambitious individuals to build a rewarding career at the intersection of finance, risk, and technology. If you possess the required quantitative skills and are eager to contribute to a purpose-driven organization, this role is certainly worth exploring.