Job Type: Permanent
Location: This role could be based in any of Phoenix’s London, Birmingham or Edinburgh offices with time spent working in the office and from home.
Flexible working: All of our roles are open to part‑time, job‑share and other types of flexibility. We will discuss what is important to you and balancing this with business requirements during the recruitment process.
Salary and benefits: Up to £150,000, dependant upon experience, plus bonus potential, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.
What are we looking for?
The Senior Lead Financial Risk Actuary is a member of the Financial Risk Operations team. The role exists to lead, with the Head of Financial Risk Operations, the delivery of the Group’s ORSA, Recovery and Resolution plans, and Solvent Exit Planning (including initial development of the new requirements). The role will support maintaining the Group’s Risk Appetite, Stress and Scenario Testing framework and annual plan and other key Line 2 owned frameworks – ensuring these remain fit for purpose.
In leading the delivery of the ORSA and Recovery and Resolutions plans, the role holder supports the Risk leadership, and will be working with the Executive and Business Leadership, given the cross‑functional and strategic nature of the work. Strong technical and people leadership is key to the role, together with the ability to manage and influence Executive and Business Leader stakeholders. The individual will collaborate with the business and wider Risk function, to ensure effective risk management of the commercial opportunities.
The role holder will work closely with the Financial Risk Leadership Team to champion the Risk Function’s Vision, Mission and Mandate.
Key responsibilities
Support the Head of Financial Risk Operations with delivering the annual ORSA, Recovery and Resolution, and Solvent Exit Plans. This will require close working with the wider business and Risk function, with a focus at Executive and Business Leader engagement and stakeholder management.
Maintain the Group’s Risk Appetite, Stress and Scenario Testing and other key Line 2 owned frameworks. This includes reviewing frameworks to ensure they remain fit for purpose, and helping the business implement these efficiently and effectively.
Support wider function by helping design and maintain an effective and efficient risk oversight activities for Line 2 that is proportionate and risk‑based, and provide clarity to the business on requirements around the risk identification, risk management, risk mitigation and position with respect to Phoenix’s risk appetite. This should include consideration of how technology and AI can be used to enhance effectiveness and efficiency of risk management.
Opine on material business decision, and assess if key risks and trade‑offs are considered appropriately by balancing commercial opportunities with risk implications.
Provide both technical and people leadership, supporting a shift in the team culture to focus oversight on material risks and transactions; optimise resources to maximise performance and productivity; foster a culture that supports performance and development through feedback and coaching. Support with wider Financial Risk Operations activity and wider team objectives where capacity exists.
Influence and challenge executive‑level decisions, leveraging internal, cross‑functional relationships and networks, external market perspectives and a general high level of appropriate experience.
Work independently with minimal managerial oversight, delivering executive‑level reports and material.
In all cases it is important to emphasise that this is a senior role, the successful candidate should lead by example and instil these attributes and accountabilities in the actions and behaviours of the wider team. The individual should also deliver thought leadership, remain up to date with latest market practice and support team development.
Essential skills
Qualified Actuary or similar qualification/certification
Deep experience in successfully delivering the core areas of the role (. ORSA, Recovery and Resolution Planning, Stress and Scenario Testing, risk management frameworks, risk analysis, risk appetite in an impactful and pragmatic way in order to deliver insights to the business.
Prior experience and in‑depth understanding of life insurance products (in particular BPA and annuities), regulatory and reporting frameworks (Solvency UK, IFRS 17, UK GAAP), and the principles of business planning, balance sheet management and optimisation – including understanding of best market practice in key areas of oversight.
Good understanding of effective risk management best practice and ability to appropriately balance risk implications and commercial opportunities. Relevant experience in business‑focused functions within life insurance – such as product development, FP&A, external reporting, or investor relations – is beneficial
Good understanding of non‑financial risks and operational resilience.
Excellent verbal and written communications, with ability to communicate complex financial concepts simply and concisely.
We want to hire the whole version of you.
We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you.
If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.
Please note that we reserve the right to remove adverts earlier than the advertised closing date. We encourage you to apply at the earliest opportunity.
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