Jessica Harper is accused of defrauding her employer through false invoices worth nearly £2.5m, while working as the head of digital banking fraud and security, according to the Crown Prosecution Service (CPS).
Andrew Penhale from the CPS Central Fraud Group said it was claimed the illegality took place between September 2008 and December 2011.
He added that Ms Harper was alleged to have "abused her position", in which she was expected to safeguard the bank's financial interests, by submitting false invoices to claim payments totalling £2,463,750.88, to which she was not entitled.
Ms Harper is due to appear before Westminster Magistrates Court on May 31.
A Scotland Yard spokesperson confirmed she was arrested on December 21 by officers from the fraud squad.
Lloyds Banking Group did not immediately comment on the situation.