An Actuary in the Internal Model team supports the Head of Internal Model and Senior Actuaries in the team to manage and develop risk-based capital models within the Group.
Overview
Key duties (including, but not limited to):
- To support the Head of Internal Model in managing and measuring the Group’s capital position, including:
- Develop and maintain the Group’s Internal Model, to support Solvency II and IFRS balance sheets, risk appetite and the ORSA, including proposing changes where necessary
- 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
- Support capital impact assessments for Group projects
- Develop BAU processes to run efficiently and deliver robust results, so that timely information can be provided to the wider business
Qualifications required:
- Qualified FIA, FFA or equivalent
Experience required:
- Programming experience
- Strong technical and analytical skills
- Experience of Solvency II as applied to UK life insurers
- Ability to assess the materiality of issues and determine appropriate courses of action to inform decisions
- Previous experience of statistical and stochastic models or wider internal model methodologies would be an advantage
- Programming experience would be helpful (e.g. VBA, Python, R)