Credit Rating Specialist -Day Rate Contractor
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Who are Just?
We’re a FTSE 250 Financial Services company who specialise in retirement solutions and right now, our world is moving pretty quickly. With the defined benefit buy in / buy out space growing each year, Just continues to annually grow its business by over £4bn of assets.
We are a purpose driven company with compelling and credible goals. Quite simply, we help people achieve a better later life. We achieve this by providing competitive and innovative products, services, financial advice and guidance to help our customers achieve security, certainty and provide them with peace of mind in retirement.
That’s who we are. We’re a company on a mission: to become a beacon for the entire retirement industry. Because we believe everyone deserves a fair, secure, and fulfilling retirement.
Purpose
The UK life assurance industry is going through regulatory changes introduced by the regulator (PRA) as set out in the PRA consultation paper CP19/23 (Review of Solvency II: Reform of the Matching Adjustment). CP19/23 cover different elements, including MA attestation and Credit Ratings. The main focus of this role is around the Credit Ratings workstreams, including credit rating methodologies, models and governance.
Just intends to be in a position where it can comply with the final changes by the end of June 2024.
Job Role Accountabilities
* Ensure Just has credit assessment methodology and criteria for each asset class
* Risk log for each asset class/methodology
* Ratings remain current and in line with methodology
* The use of expert judgements is documented
* Fund managers are aware of their responsibilities to Just in support of compliance with the new
* regulations
* Ensure that the models reflect the methodology
* Design of the credit rating watchlist
* Internal credit assessment outcomes lie within the plausible range of issue ratings that could
* have resulted from a Credit Rating Agency (CRA)
* Develop a credit rating back testing approach and perform the back testing exercise
* Create an approach to decide which assets should be subject to external validation
Why Just?
We are committed to building a more sustainable business and have publicly committed to reduce our scope 3 emissions to Net Zero by 2050 and our scope 1 and 2 emissions to Net Zero by 2025. We’ve made good progress so far and encourage our people to make small and meaningful changes in their everyday lives, so that we can protect our planet for future generations.
Diversity, Equity and inclusion (DE&I) is a key priority for Just as part of our overall strategy and ensuring all of our people feel proud to work at Just. We have joined a number of initiatives including the Race at Work Charter, designed to improve outcomes for employees from underrepresented backgrounds. We also run a Reciprocal Mentoring scheme for employees from a BAME background, those with a disability and those who identify as LGBTQ+. There are multiple employee network groups, which champion issues including race, gender, social mobility and neurodiversity.
What’s clear about working at Just is that we care. We care about our customers, our purpose, our environment, inclusivity, wellbeing and most importantly - each other.
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