Our client has a proud heritage in helping people secure their financial futures. They're continuing to build on that foundation and are growing their thriving bulk annuity business, partnering with pension schemes to protect members’ retirement benefits. This is a fantastic opportunity to join them in an exciting period of exponential growth and be part of a trusted business, where your work makes a real difference and you can accelerate your career.
Reporting directly to the Head of Actuarial Development, you will play a lead role in the development, validation and maintenance of the reporting processes of our clients' partial internal model under Solvency II. This role is available on either a full time or fixed-term contract basis.
Key responsibilities:
• Design, develop, and enhance reporting processes that adhere to risk tolerances and are scalable for future growth.
• Conduct rigorous validation and testing of models to ensure accuracy and compliance with regulatory standards.
• Analyse large datasets to identify trends, patterns, and insights that inform model assumptions and parameters.
• Ensure all reporting complies with Solvency II requirements and other relevant regulatory frameworks.
• Prepare comprehensive documentation for PIM reporting processes.
• Support the integration of PIM into existing BAU reporting.
• Collaborate with internal stakeholders, including risk management, finance and underwriting teams, to gather requirements and provide insights.
• Stay updated with industry trends, best practices, and regulatory changes to continuously improve the internal model.
• Maintain competence and fitness and propriety standards to the level required by the Company’s regulators.
• Adhoc tasks as required.
• Comply with the FCA’s conduct (and senior conduct) and Consumer Duty rules and the PRA’s conduct (and senior manager conduct) standards.
Core competencies:
• Ability to develop effective solutions to issues/problems.
• Good communication skills (written and verbal) and ability to build relationships.
• Good risk management analysis skills/understanding of risk.
• Proactive, motivated and able to assimilate new skills/information quickly.
• Well organised, good attention to detail, able to prioritise effectively, work independently and work to deadlines.
• Eager to learn and develop.
Experience and qualifications:
• IFoA Qualified Actuary, with 3 - 5 years’ experience in actuarial roles, with a focus on Solvency II Reporting.
• Life industry experience.
• Experience of the regulatory environment in the UK.