Job Description

End Date Monday 21 August 2023

Salary Range \xc2\xa30 - \xc2\xa30

Agile Working Options Other Agile Working Arrangements / Open to Discussion

Summary .



JOB TITLE: Manager \xe2\x80\x93 Product Control

SALARY: \xc2\xa361,641-\xc2\xa368,490

LOCATION(S): Edinburgh

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

About this opportunity

The Product Control team is a control function responsible for the production of daily/weekly P&Ls across Commercial Banking and Treasury products. This includes providing analysis of the P&L at the appropriate level of granularity and ensuring appropriate controls are in place around the completeness, accuracy and presentation of reserves.

Special Purpose Vehicles (SPV\xe2\x80\x99s) play a vital role in supporting LBG. SPV\xe2\x80\x99s are utilised for:

• Significant Risk Transfers (SRT\xe2\x80\x99s). SRT\xe2\x80\x99s are used to reduce the Risk Weighted Assets (RWA\xe2\x80\x99s) of a Division by selling them to the SPV and thus \xe2\x80\x9cde-recognise\xe2\x80\x9d them on the balance sheet. This reduces RWA\'s of the Division where the assets originally resided and support the Groups capital consumption.
• Retail Lending \xe2\x80\x93 SPV\xe2\x80\x99s where the underlying assets are Retail Mortgages (High Loan to Value, LTV). We securitise existing High LTV (85/95%) mortgages to provide headroom to the Retail Division to increase their lending capability.
• Pension Assets \xe2\x80\x93 SPV\xe2\x80\x99s also support contingent asset requirements for various pension schemes across the Group.

You\'ll be responsible for reporting the PnL on the SPV\xe2\x80\x99s within Group Corporate Treasury. Weekly PnL reporting is required. Where the package structures hold an embedded derivative, daily mark to market PnL\xe2\x80\x99s are required. You\'ll have two direct reports.

Key Responsibilities:

• Actively demonstrate core Lloyds Banking Group values and behaviours
• Support the implementation of robust processes aligned to business objectives, recommending improvements where appropriate. Minimising operational risks using judgement to determine where issues require partner concern.
• Establish and build relationships with partners to support the provision of quality and timely information and analysis to advise business decisions.
• Participate in Resource Sharing, demonstrating collaboration and teamwork across the department, support and drive continuous improvement in behaviours and processes.

• Manage the Securitisation Desk and actively participate in new, complex transactions, providing supporting information to partners as and when required.
• Ownership and preparation of weekly P&L production, reconciliations, explain market-based commentary, sign offs, issue resolution and partner concern.
• Supporting the month end close processes associated with accurately reporting and independently validating the bank\xe2\x80\x99s balance sheet in a timely manner.

Why Lloyds Banking Group

We\xe2\x80\x99re on an exciting journey to transform our Group and the way we\xe2\x80\x99re shaping finance for good. We\xe2\x80\x99re focusing on the future, investing in our technologies, workplaces, and colleagues to make our Group a great place for everyone. Including you.

What you\xe2\x80\x99ll need

• Qualified accountant with line management experience
• Finance professional with a proven track record gained in a range of roles and/or proven depth of knowledge within their specialism.
• Understanding of relevant business systems, along with practical understanding of financial systems and processes.
• Ability to utilise and manipulate spread sheets, produce formatted charts and use sophisticated formulae and pivot tables.
• Seeking an individual who is comfortable in working in a fast paced & changing environment, able to support delivery of solutions to urgent ad hoc queries and requests from partners.

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\xe2\x80\x99s why we especially welcome applications from under-represented groups. We\xe2\x80\x99re disability confident. So if you\xe2\x80\x99d 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 performance-related bonus

• Share schemes including free shares

• Benefits you can adapt to your lifestyle, such as

discounted shopping

• 30 days\xe2\x80\x99 holiday, with bank holidays on top

• A range of wellbeing initiatives and generous

parental leave policies

If you\xe2\x80\x99re excited by the thought of becoming part of our team, get in touch. We\xe2\x80\x99d love to hear from you.

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\xe2\x80\x99re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.

Lloyds Banking Group