End Date
Saturday 11 July 2026
Salary Range
£93,087 - £103,430
We support flexible working – click here for more information on flexible working options
Flexible Working Options
Hybrid Working, Job Share
Job Description Summary
Title: Counterparty Credit Risk Manager
Location(s): London or Birmingham
HOURS: Full-time
WORKING PATTERN: Our work style is hybrid, which involves spending at least three days per week, or 60% of our time, at one of our office sites.
The Counterparty Credit Risk (CCR) Manager will be primarily responsible for the monitoring, control & reporting functions covering the Bank’s Traded Counterparty Credit Risk portfolio. This role ensures compliance with internal risk frameworks & Chief Credit Office policies while supporting the organization's risk management objectives.
Job Description
The Counterparty Credit Risk (CCR) Team are responsible for the end ‑ to ‑ end oversight, governance, and strategic development of the Bank’s traded counterparty credit risk framework. This includes independent risk assessment, exposure management, stress testing, regulatory compliance, and active engagement with 1st Line of Defence (1LOD), Chief Credit Office (CCO), Risk Platforms IT, Quantitative Research (QR) and Model Risk teams to optimise risk ‑ return outcomes.
Act as a Primary Model User, taking ownership for driving enhancements to CCR exposure methodologies, including Potential Future Exposure (PFE), Expected Exposure (EE/EPE) and Wrong-Way Risk identification.
Proactively monitor and assess the effectiveness of the LBG collateral management framework, including Initial Margin (IM) and Variation Margin (VM) eligibility, concentration limits and contractual haircuts, and drive improvements where required.
Take ownership of the execution of the CCR stress testing framework, including designing and running market shocks (rates, FX, inflation), counterparty default scenarios, and correlated market-counterparty stress (wrong-way risk), quantifying impacts on exposures and driving management actions (limit adjustments, hedging, de-risking).
Proactively monitor traded counterparty exposures against limits, identifying, investigating and escalating excesses and control breaches, and driving timely resolution.
Maintain a strong understanding of CCR regulatory frameworks (e.g. SA-CCR, Basel/CRR), ensuring alignment between internal methodologies and regulatory capital requirements and proactively identifying enhancement opportunities.
Strong understanding of traded products (interest rate, FX, credit and securities financing transactions) and how they drive counterparty credit exposures, collateral requirements and margining. Demonstrated ability to interpret risk, challenge assumptions, and translate analytics into credit decisions.
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.
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 aim for our people to feel that they belong and can be their best, regardless of background, identity or culture. If you'd like reasonable adjustments to our recruitment process, just let us know.
If you're motivated by challenge, grow with responsibility, and want to help shape the future of credit risk at LBG, we want 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’re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.
