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Actuary Ireland

Actuary Ireland

Phoenix Group HoldingsTelford, England, United Kingdom
30+ days ago
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 to demonstrate the ongoing appropriateness on the Internal Model to internal stakeholders and the Central Bank of Ireland.

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 the risks including justifications as to 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 and Board Committee as well as the regulator where required.

Quarterly SCR productions

  • Quarterly review of the SCR for Internal Model risk modules including : Review of updates to calculations engines in compliance with company End User Computing standards; Review of Analysis of Movement and commenting on reasonability. Production of valuation control reports. Presenting result to Head of Actuarial Reporting and the Head of Actuarial Function.

    • Other

  • Ensure all Internal Model methodology and process documentation remains up-to-date.
  • Lead, develop, coach and mentor actuarial trainees and analysts as required to maximise their contribution and ensure they are fairly rewarded.
  • Support other valuation activity carried out within the wider Actuarial Financial Reporting team.
  • Develop and maintain internal relationships within SL Intl (in particular the Actuarial, Finance and Risk functions) as well as the Life Actuarial, Life Finance and Capital Management functions within the Phoenix Group.
  • Provide support and key input into various changes or projects within SL Intl (and wider Group) where required.
  • Act as actuarial subject matter expert on strategic business or Group level projects to ensure specialist input is provided to business decision making.

    • Required Skills and Personal Attributes :

  • Qualified Actuary (1-5 years PQE).
  • Experience in life insurance industry - (Internal Model / Capital Management experience a bonus).
  • Strong technical knowledge and understanding of Solvency II capital requirement calibrations and good understanding of Solvency II as a whole.
  • Excellent communication skills (written and verbal), both with a technical actuarial audience and also simplifying the communication of technical issues to a non-technical audience.
  • Experience delivering presenting to Management and Board Committees.
  • Ability to understand key issues quickly and to form sound judgements on what is important.
  • Good influencing skills and experience of engaging with senior management to get desired 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 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.