Pensions Risk Manager

About the role

The Pensions Risk Manager will join Lloyds Banking Group’s Liquidity, ALM and Pensions Risk team, providing oversight and challenge for the Group’s defined‑benefit pension schemes worth around £30bn. Working in a hybrid model, you will partner with Corporate Treasury and the wider risk function to support pension funding, strategy and risk planning.

Key responsibilities

• Assist the Senior Pensions Risk Manager and lead day‑to‑day risk activities for the defined‑benefit schemes.
• Conduct internal and external stress testing, including contributions to the PRA ICAAP submission.
• Develop and maintain the pension risk appetite framework, monitor exposures and analyse trends.
• Support pension model reviews and contribute to the annual market risk policy attestation.
• Review external IAS‑19 disclosures and participate in governance forums.

Required profile

• Strong analytical mindset with experience in pension risk or related financial risk areas.
• Ability to work collaboratively across Treasury, risk and governance teams.
• Excellent written and verbal communication skills for presenting evidence‑based analysis.

Required skills

• Knowledge of defined‑benefit pension scheme funding and risk assessment.
• Familiarity with stress‑testing methodologies and regulatory frameworks (e.g., PRA, ICAAP).
• Understanding of market risk policies and IAS‑19 reporting requirements.

What we offer

• Hybrid working with at least two days per week in the Edinburgh office.
• Competitive salary range of £84,051‑£93,390 per year.
• Opportunities to work on high‑impact projects within a large UK banking group.
• Support for flexible working and workplace adjustments for disabilities.