Actuary (Internal Model)

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Actuary (Internal Model)

Actuarial

London

London



R1459



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DESCRIPTION

Our Capital Management team are hiring and we’re currently looking for a nearly/newly qualified Actuary to join our Internal Model team on a permanent contract based from our London office.

The Internal Model team supports the development of a stable capital position to enable delivery of organic capital generation and you’ll work alongside the Head of Internal Model and Senior Actuary’s in the team to manage and develop risk-based capital models within the Group.

Within the role you’ll cover all aspects of capital methodology, including compliance with relevant regulatory standards around data, documentation, statistical quality, calibration and validation and taking into account changes in regulatory guidance and emerging industry practice.

If you’re a curious individual with ambitions to learn and an ability to use your initiative to work autonomously then we’d love to hear from you. Working to become an established technical leader within the Internal Model team you should also be able to display a strong all round technical skillset with a background in programming languages such as Python, VBA or Matlab being advantageous.

You Will

  • Develop and maintain the Group’s Internal Model, to support regulatory (Solvency II), risk appetite, ORSA and economic capital calculations, including leading submissions for future model changes.
  • Ensure the ongoing maintenance of a fully-documented Internal Model which complies with all Solvency II tests and standards on an ongoing basis.
  • Implement first line Internal Model validation activities in accordance with the validation framework and facilitate appropriate action in response to validation findings.
  • Regularly review the internal rating methodology for LTM senior notes
  • Support capital impact assessments for Group projects.
  • Ensure BAU processes run efficiently and delver robust results.
  • Contribute to delivery of an annual recalibration of the Internal Model risks to ensure the Internal Model remains up to date. 
  • Contribute to delivery of the annual proxy restructure review
  • Internal Model aligned to the IM development log
  • Assess the capital model implications of Group projects. Identify risks, issues and opportunities that could impact the capital position. Support Project Owners to ensure projects are implemented in a capital efficient way.
  • Prepare analysis to support papers for the Internal Model Governance Forum (‘IMGF’) to report on the activities related to the Internal Model to assist the Group CRO to manage the model.

You

  • Nearly/Newly qualified FIA, FFA or equivalent
  • Technically strong modelling background
  • Experience of Solvency II as applied to UK life insurers
  • Previous experience of statistical and stochastic models and or programming languages would be an advantage
  • Naturally curious with strong communication skills

Working for us, you get your Just Rewards…

  • Such as a Competitive Salary, Pension Scheme and Life Assurance
  • Along with 25 Days Annual Leave plus an Additional Day on us for your Birthday
  • Private Medical Cover and Income Protection, just in case
  • A Bonus Scheme that takes a balanced approach and looks at both `in role performance’ but also `the behaviours and attitudes you exhibit at work’
  • FREE access to the Headspace App, a 24/7 Employee Assistance Helpline and Trained Physical & Mental Health First Aiders (On-Site)
  • Plus we have a variety of Employee Funded Benefits available to our Employees via our Online Benefits Portal