Lloyds Banking Group
Pensions Risk Manager
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Pensions Risk Manager
Pensions Risk Manager
Job Title
Pensions Risk Manager
Salary
£84,051 - £93,390
Location(s)
Edinburgh
Hours & Working Pattern
Full-time, 35 hours per week. Hybrid working:
- Minimum two days (40% of time) spent at an office site.
- Adjustments supported for colleagues with disabilities under Flexibility Works policy.
About the Opportunity
We have an exciting opportunity to join the Pensions Risk team within Liquidity, ALM and Pensions Risk, providing oversight and challenge on the Group sponsored Defined Benefit Schemes.
- The Schemes comprise c£30bn of assets.
- They are among the largest defined benefit schemes in the UK.
- Opportunity to engage in a range of activities.
What You’ll Be Doing
Core Responsibilities
- Act as part of a small, cooperative Pensions Risk team.
- Lead multiple activities, support colleagues, and cover for the Senior Pensions Risk Manager as needed.
- Work closely with Group Corporate Treasury and Pensions Risk Management as a trusted partner.
- Focus areas:
- Pension scheme funding
- Pension strategy
- Pension risk planning
- Focus areas:
- Deliver clear, evidence-based analysis and provide constructive feedback to drive sound decision-making.
Key Tasks
- Assist with internal and external pensions stress testing, including the PRA ICAAP submission.
- Assess how various scenarios affect pension risk within broader **Group strategy).
- Help develop and maintain pension risk appetite and regularly:
- Check exposures
- Analyse trends
- Provide insights, challenge, and support pension model reviews
- Uphold governance and policy standards with responsibilities including:
- Contributing to the annual review and attestation of market risk policies and procedures.
- Reviewing external pensions-related IAS19 disclosures.
- Supporting the assumptions setting process.
- Represent the team in pensions and broader governance forums, sharing expertise and influencing discussions.
- Drive ongoing improvements to pensions risk frameworks by:
- Building strong relationships with key partners.
- Staying current with changes in the pensions landscape (via internal and external networks).
- Participate in wider initiatives across Liquidity and Asset-Liability Management Risk, engaging with colleagues to support broader team goals.
- Develop a deep understanding of other Bank-related non-pensions risk.
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Why Join Us?
We’re best when we’re building a sustainable business and creating a place where people thrive. We’re looking for colleagues who are:
- Smart and ambitious.
- Passionate about push boundaries, drive change, and question the status quo.
What We’re Looking For
Essential
- At least 5 years of hands-on experience in:
- Defined benefit pension schemes
- Financial risk management of such schemes.
- Ability to apply expertise in complex environments.
- A relevant professional qualification (e.g., FIA/FFA or equivalent) or CFA status.
- Confident communication skills with the ability to:
- Explain technical concepts clearly.
- Provide constructive challenge.
- Influence senior colleagues and cross-functional teams.
- Proactive, self-starting approach, with experience managing:
- Your own workload.
- Balancing multiple priorities.
- Adapting to new challenges.
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Additional Strengths (Not Essential)
- Experience presenting complex technical information to diverse audiences.
- Strong ability to build collaborative relationships across teams.
Our Commitment to Inclusion
We recognise that great talent comes from diverse backgrounds:
- Skills develop in varied ways.
- We encourage applicants with relevant, transferable experience.
Our ambition:
- To be the leading UK business for diversity, equity, and inclusion.
- To support customers, colleagues, and communities in thriving and growing.
Benefits
We offer a comprehensive benefits package, including:
- Generous pension contribution (up to 15%).
- Annual performance-related bonus.
- Share schemes, including free shares.
- Customizable lifestyle benefits (e.g., discounted shopping).
- 30 days’ holiday (+ bank holidays).
- Range of wellbeing initiatives.
- Generous parental leave policies.
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