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Internal Model Actuary

Posted 24/10/2022
Full time

Internal Model Actuary
Location: Hybrid working - Office location optional between London, Midlands or Edinburgh
Competitive Salary / Fantastic Benefits/Bonus

Our client is a hugely successful life insurer thriving through a period of growth. They have an ambitious strategy and Capital Management has a central role to play - They're investing significantly as they look to build market leading capability and increase their capacity to support new initiatives. This team delivers strategic capital developments, manages and optimises the life company balance sheets and develops the Group Internal Model.

The Internal Model Actuary is required to have experience as follows:

* Solvency II experience either from roles in Financial Reporting, Actuarial Function or Independent Validation.
* Strong communication skills with the ability to simplify communications of technical issues to a non-technical audience.
* Ability to maintain regulatory, business & professional knowledge (including professional Actuarial Standards) in an environment of fast moving regulatory change.

The Internal Model Actuary will be joining a growing team working closely with the Head of Group Internal Model to support a team of student Actuary's and you'll have a clear path to progress within your role.


* Support the maintenance of Internal Model methodologies and frameworks and assist the development of Solvency II methodologies in support of the capital management strategy.
* Support Internal Model methodology changes in the delivery of Major Model Change applications and other key projects by acting as the Internal Model SME.
* Monitor relevant emerging regulations and developments within the industry and report to the business on the implications of developments as they emerge.
* Perform methodology deep dives as the business evolves and expands to identify the key areas of changes required for the Internal Model to continue to support the business.
* Educate the business, and appropriate governance committees on Solvency II methodologies and the Internal Model.
* Support the implementation of Internal Model methodology developments that improve capital efficiency.
* Lead small projects and minor methodology developments within the Internal Model team.

Oliver James Associates

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