End Date
Tuesday 14 July 2026Salary Range
£84,051 - £93,390We support flexible working – click here for more information on flexible working options
Flexible Working Options
Hybrid Working, Job ShareJob Description Summary
.Job Description
JOB TITLE: Pensions Risk Manager
SALARY:£84,051 - £93,390
LOCATION(S): Edinburgh
HOURS: Full-time, 35 hours per week
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. Colleagues with disabilities can be supported with workplace adjustments including hybrid working expectations in line with our 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 of c£30bn of assets and are collectively some of the largest defined benefit schemes in the UK, offering great opportunity to be involved in a range of activities.
What you’ll be doing
This role involves becoming part of a small, cooperative Pensions Risk team. Leading multiple activities, assisting colleagues, and stepping in for the Senior Pensions Risk Manager as needed are included in the scope. Working closely with Group Corporate Treasury and Pensions Risk Management, the role acts as a trusted partner on pension scheme funding, strategy, and risk plans. Delivering clear, evidence-based analysis and offering constructive feedback helps foster sound decision-making.
You’ll assist with internal and external pensions stress testing, including work on the PRA ICAAP submission. Your role will involve assessing how various scenarios affect pension risk within the broader Group strategy. Additionally, you’ll help develop and maintain pension risk appetite, regularly check exposures, analyse trends, provide insight and challenge when needed, and support pension model reviews.
A meaningful role in upholding governance and policy standards is provided. Responsibilities include contributing to the annual review and attestation of market risk policies and procedures. External pensions-related IAS19 disclosures are reviewed, and contributions to the assumptions setting process are made. The team is represented in pensions and broader governance forums, sharing expertise and influencing discussions and outcomes.
More broadly, you’ll contribute to strengthening the pensions risk frameworks by driving ongoing improvements. You will build strong working relationships with key partners and keep current with changes in the pensions landscape through internal and external networks. You’ll also have the chance to participate in wider initiatives across Liquidity and Asset Liability Management Risk, collaborating with colleagues to support broader team goals, offering exposure to develop deep understanding of other Bank related non-pensions risk.
Why join us?
From building a truly sustainable business to creating a place where people love to work, we need colleagues who are up for the challenge and can match our pace. People who love to push boundaries, make change happen and challenge the status quo. Sound like you?
What we’re looking for
- At least 5 years hands-on experience of defined benefit pension schemes and their financial risk management, with the capability to apply this expertise in a complex environment.
- A relevant professional qualification is essential – for example, a qualified actuary (FIA/FFA or equivalent) or CFA.
- Confident communication skills, with the ability to explain technical concepts clearly, provide constructive challenge and influence a range of collaborators, including senior colleagues.
- A proactive, self-starting approach, with experience of managing your own workload, balancing multiple priorities, and adapting to new challenges.
- Strong analytical and problem-solving capability, with good judgement, attention to detail and the ability to work across multiple workstreams.
And any experience of these would be great:
- Experience presenting complex technical information to diverse audiences and building strong, collaborative relationships across teams.
We know that great talent comes from many backgrounds. Whilst this job advert may reference specific years of experience, we recognise that skills are developed in many ways, so if you have relevant, transferable experience, we encourage you to apply.
This is a place for you
Our ambition is to be the leading UK business for diversity, equity and inclusion supporting our customers, colleagues and communities and we’re committed to creating an environment in which everyone can thrive, learn, and develop.
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’ holiday, with bank holidays on top
- A range of wellbeing initiatives and generous parental leave policies
Ready to make an impact? Apply today.
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.
Skills Required
- At least 5 years hands-on experience of defined benefit pension schemes and their financial risk management.
- A relevant professional qualification (e.g., qualified actuary FIA/FFA or equivalent, or CFA).
- Confident communication skills; explain technical concepts clearly and influence senior stakeholders.
- Proactive, self-starting approach with experience managing workload and balancing multiple priorities.
- Strong analytical and problem-solving capability, good judgement and attention to detail.
- Experience presenting complex technical information to diverse audiences and building collaborative relationships across teams.
What We Do
Our purpose is Helping Britain Prosper. We do this by creating a more sustainable and inclusive future for people and businesses, shaping finance as a force for good. We're part of an ever-changing industry and are currently on a journey to shape the financial services of the future, whilst supporting our customers’ changing needs. The scale and reach of our Group means we can offer a broad range of opportunities to learn, grow and develop. Our values-led culture and approach to inclusion and diversity means we can all make a real difference together.
