Overview
Join to apply for the Senior Credit Development Lead role at Phoenix Group.
This role is permanent and based in one of: Telford, Birmingham, London or Edinburgh with two days a week in the office and the remainder working from home.
Job details
Job Type: Permanent
Location: Based in Telford, Birmingham, London or Edinburgh with two days in the office per week and the remainder remote.
Flexible working: All 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. You can read more about Phoenix Flex here.
Closing Date: 21st September
Salary and benefits: £100,000 to £124,500 depending on experience plus 16% bonus up to 32%, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and more.
The Role
In this role you will lead a team of qualified actuaries and actuarial analysts to develop the Solvency II Internal Model approach to Credit risk. You will engage with a wide range of areas across the business including Asset Management and Risk & Finance to identify, develop and implement methodology changes that improve the capital efficiency of Phoenix’s Internal Model.
Key Responsibilities
* Identify opportunities to improve the capital efficiency of the Credit risk model and compliance with emerging regulations
* Own the credit risk roadmap for minor model changes by identifying and proposing future methodology developments that improve the capital efficiency and risk recognition for Phoenix’s Internal Model for Credit risk
* Lead the execution and operationalisation of minor model changes and articulate the business benefits of the change
* Ensure Phoenix’s credit risk internal model remains compliant with internal actuarial framework and Solvency regulatory requirements
* Lead the annual credit model calibration exercise including model validation, and propose updated model calibrations and take the proposal through governance
* Maintain model documentation to Solvency II documentation standards
* Embed use of credit risk capital model within the business
* Work with partners across the business to oversee the development and implementation of capital methodologies for new asset classes and investment strategies considered major model changes
* Formalise the calibration and use of credit capital intensity factor within the business for investment and pricing and educate the business and governance committees on Credit Risk developments
* Lead the operationalisation of Major Model Changes
* Collaborate with wider credit modelling team to lead the operationalisation of Major model changes
* Enable a smooth transition between Major Model Change development and BAU operationalisation
* To deputise for the Head of Credit Modelling as required
* To lead and develop actuaries and analysts in the team
* To support appropriate working practices to support an effective multi-site team
* To maintain regulatory, technical, business and professional knowledge including Solvency II regulations and professional actuarial standards, in an environment of fast moving regulatory change
What are we looking for?
* A qualified Actuary with considerable post-qualification experience in the industry
* Detailed knowledge of credit risk capital model in the context of Annuity business under Solvency II
* Detailed knowledge of SII requirements and Internal Model methodologies
* A good understanding of insurance and investment risk, capital management and capital modelling
* Up to date knowledge of latest industry techniques and practices for internal models
* Excellent communication skills with great stakeholder management experience
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.
Find out more about:
* Guide for Candidates: thephoenixgroup.pagetiger.com/guideforcandidates
* Find or get answers from our colleagues: www.thephoenixgroup.com/careers/talk-to-us
Seniority level
* Mid-Senior level
Employment type
* Part-time
Job function
* Finance and Sales
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