Job Description
Job Type: Permanent
Location: UK / Dublin (Hybrid working)
Flexible working: We will discuss what is important to you and balancing this with business requirements during the recruitment process.
Who are we?
We want to be the best place that any of our 7,400 colleagues have ever worked.
We’re the UK’s largest long-term savings and retirement business. We offer a range of products across our market-leading brands, Standard Life, SunLife, Phoenix Life, and ReAssure. Around 1 in 5 people in the UK has a pension with us. We’re a FTSE 100 business that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we’re not done yet.
Role Context
We currently have an exciting opportunity for a Qualified Actuary within our European life subsidiary, Standard Life International DAC, to join our Internal Model team. The primary responsibilities of the role will be to support the Internal Model Lead in demonstrating the ongoing appropriateness of the Internal Model to internal stakeholders and the Central Bank of Ireland.
Responsibilities
* Maintenance of Internal Model Assumptions and Methodology:
* Perform regular review of assumptions and methodology, including interim monitoring and reporting of key Management Information.
* Ensure methodology remains appropriate for the company’s risk profile.
* Ensure appropriate data is used to model risks, including justifications for its appropriateness.
* Perform line 1 validation activity to evidence compliance with Solvency II Internal Model requirements.
* Perform regular monitoring and reporting of key metrics to demonstrate ongoing appropriateness of the model.
* Carry out any requisite model and methodology changes in compliance with the Model Change Policy.
* Draft and present monitoring, model change requests, and other ad-hoc IM papers to Management, Board Committee, and the regulator where required.
Quarterly SCR Production
* Review of SCR for Internal Model risk modules, including:
* Review of updates to calculation engines in compliance with company End User Computing standards.
* Analysis of Movement and commenting on reasonability.
* Production of valuation control reports.
* Presenting results to the Head of Actuarial Reporting and the Head of Actuarial Function.
Other Responsibilities
* Ensure all Internal Model methodology and process documentation remains up-to-date.
* Lead, develop, coach, and mentor actuarial trainees and analysts to maximize their contribution.
* Support other valuation activities within the wider Actuarial Financial Reporting team.
* Develop and maintain internal relationships within SL Intl, especially with Actuarial, Finance, and Risk functions, as well as within the Phoenix Group.
* Provide support and key input into various projects within SL Intl and the wider Group.
* Act as actuarial subject matter expert on strategic business or Group projects to ensure specialist input in decision making.
Required Skills and Attributes
* Qualified Actuary (1-5 years PQE).
* Experience in life insurance industry; Internal Model/Capital Management experience is a bonus.
* Strong technical knowledge of Solvency II capital requirements and good overall understanding of Solvency II.
* Excellent communication skills, both written and verbal, capable of simplifying complex technical issues for non-technical audiences.
* Experience in delivering presentations to Management and Board Committees.
* Ability to quickly understand key issues and form sound judgments.
* Good influencing skills and experience engaging with senior management to achieve outcomes.
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 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.
Additional Information
* Guide for Candidates
* Find or get answers from our colleagues
We value diversity in our workforce and welcome enquiries from everyone.
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