Financial Risk & Internal Model Actuary


Our client is looking to hire a Financial Risk Internal Model Actuary to join their Birmingham based office.

Ref: 48719

  • Location: UK
  • Category: Actuarial
  • Type: Permanent


Key Responsibilities:

Join the Risk Modelling & Analytics team to deliver the following:

Modelling: Development and maintenance of an approved their company’s Internal Model (IM):

  • Development and maintain appropriateness of the IM methodology owned by Risk Management
  • Development of the company’s responses to PRA queries relating to IM Methodology and support interactions with PRA
  • Perform regular recalibration and review appropriateness of methodology for the IM
  • Contribute to the redesign of any aspects of the model that are required through a significant change in the company risk profile (e.g. through transactions, strategic asset allocation etc.)
  • Produce material for the Board (and PRA) on changes to the methodology by following IM governance procedure
  • Support the development and ongoing maintenance of the Productionised IM platform owned by Actuarial
  • Resolve findings from independent validation activities
  • Participate in and provide feedback into industry surveys relating to the internal model
  • Adhere to the company’s Internal Model governance framework

Analytics: The implementation of risk analytics support:

  • Support responses to capital and risk initiatives including work related to current and future transactions
  • Provision of analytical support for regular FRM reporting including risk reports and ORSA
  • Production of high quality analysis and produce accurate output in line with risk analysis, capital projections, risk concentration limits, etc.
  • Quantification of changes to the company risk profile from strategic initiatives
  • Delivery of risk modelling and analysis on proposed and implemented new initiatives
  • Research and development – extending the scope of risk analysis initiatives into new areas that are capable of providing business benefit
  • To deliver Risk Management objectives with internal teams, Swiss Re Group and CRO office in London
  • Apply actuarial judgement and propose process improvements to reduce cost and increase efficiency.
  • Actively support knowledge management and knowledge sharing across the company’s and with SRLC and Group Risk Management

Qualifications required:

  • At least a 2:1 in numerate degree
  • Qualified Actuary

Experience required:

  • Financial market, insurance and operational risk modelling and management
  • Financial market products and insurance products
  • Solvency II
  • PRA and FCA regulations
  • Internal Model design, governance and validation
  • Regulatory Reporting requirements
  • Good understanding of corporate governance practices
  • Knowledge of Swiss Re and RAGL business, risk profile and mitigation structures
  • Detailed knowledge of RAGL business, risk profile and mitigation structures
  • At least 5 years working in life insurance environment and Solvency II
  • Risk Modelling
  • Economic capital management
  • Programming experience
  • Track record of management experience
  • 3+ years post qualified experience


Robert Gibson

Director of Interim

T: +44 (0)203 867 9858

Email me


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