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- Tasks: Lead the development and validation of partial internal models under Solvency II.
- Company: Join a renowned UK life & pensions company committed to employee growth and innovation.
- Benefits: Enjoy a hybrid working model with flexible hours and a collaborative office environment.
- Why this job: Tackle complex problems in a diverse team while developing your skills and career path.
- Qualifications: Qualified Actuary with 5+ years in model development and regulatory experience in financial services.
- Other info: Stay updated with industry trends and collaborate with various internal teams for impactful insights.
The predicted salary is between 43200 - 72000 £ per year.
TAG is currently seeking an experienced PIM Actuary on behalf of our client, a renowned UK life & pensions company. Our client is committed to developing its people and encourages everyone to carve out their own career path by offering the chance to develop new skills and explore new passions. Our client thrives on tackling complex problems. They believe those problems are best solved by diverse teams – diverse in skills, approaches, and backgrounds. Their independence lets their people be themselves and think freely, while working in a collaborative, supportive environment. Our client loves innovative, independent thinking and wants everyone to share their ideas. Their hybrid working model offers the best of both worlds – home working as well as a fun, collaborative office environment - meaning flexible working patterns to accommodate individual needs.
Key responsibilities will include:
- Play a lead role in the development, validation and maintenance of their partial internal model under Solvency II.
- Design, develop, and enhance partial internal models that adhere to their risk tolerances and are scalable for future growth.
- Conduct rigorous validation and testing of models to ensure accuracy and compliance with regulatory standards.
- Analyse large datasets to identify trends, patterns, and insights that inform model assumptions and parameters.
- Ensure all models comply with Solvency II requirements and other relevant regulatory frameworks.
- Prepare comprehensive documentation for model development, assumptions, methodologies, and validation processes.
- Collaborate with internal stakeholders, including risk management, finance, and underwriting teams, to gather requirements and provide insights.
- Generate regular reports and presentations for senior management.
- Stay updated with industry trends, best practices, and regulatory changes to continuously improve the internal model.
- Maintain competence and fitness and propriety standards to the level required by the Company’s regulators.
- Comply with the FCA’s conduct (and senior conduct) and Consumer Duty rules and the PRA’s conduct.
Experience and Qualifications:
- Qualified Actuary, with minimum of 5 years’ experience in actuarial roles, with a focus on model development and validation.
- Financial Services (Life industry or Pensions Fund) experience.
- Experience of the regulatory environment in the UK.
Seniority level: Mid-Senior level
Employment type: Full-time
Job function: Finance
Industries: Insurance and Employee Benefit Funds
Contact Detail:
The Actuary Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Partial Internal Model Actuary
✨Tip Number 1
Network with professionals in the actuarial field, especially those who work in life insurance and pensions. Attend industry events or webinars to connect with potential colleagues and learn about their experiences, which can give you insights into the company culture and expectations.
✨Tip Number 2
Familiarise yourself with Solvency II regulations and the latest trends in model development. Being well-versed in these areas will not only boost your confidence but also demonstrate your commitment to staying updated in a rapidly evolving field.
✨Tip Number 3
Prepare to discuss specific examples of your past work in model validation and development during interviews. Highlight how your contributions have led to improved accuracy or compliance, as this will showcase your practical experience and problem-solving skills.
✨Tip Number 4
Research the company’s values and recent projects. Tailoring your discussions to align with their focus on innovation and collaboration will help you stand out as a candidate who is not only qualified but also a good cultural fit.
We think you need these skills to ace Partial Internal Model Actuary
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in actuarial roles, particularly focusing on model development and validation. Use specific examples that demonstrate your skills in analysing large datasets and compliance with regulatory standards.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for the role and the company. Mention your understanding of Solvency II requirements and how your background aligns with their commitment to innovative thinking and collaboration.
Highlight Relevant Qualifications: Clearly state your qualifications as a qualified actuary with at least 5 years of experience. Emphasise any specific projects or achievements that relate to the responsibilities outlined in the job description.
Showcase Continuous Learning: Mention any recent training, certifications, or industry trends you are following that demonstrate your commitment to staying updated in the actuarial field. This shows your proactive approach to professional development.
How to prepare for a job interview at The Actuary Group
✨Understand the Regulatory Environment
Make sure you have a solid grasp of Solvency II and other relevant regulations. Be prepared to discuss how your experience aligns with these requirements, as this will demonstrate your suitability for the role.
✨Showcase Your Analytical Skills
Be ready to talk about specific projects where you've analysed large datasets. Highlight any trends or insights you discovered and how they informed your model assumptions, as this is crucial for the role.
✨Emphasise Collaboration
Since the role involves working with various internal stakeholders, share examples of how you've successfully collaborated with teams in the past. This will show that you can thrive in a supportive, team-oriented environment.
✨Prepare for Technical Questions
Expect to face technical questions related to model development and validation. Brush up on your knowledge and be ready to explain your methodologies clearly, as this will reflect your expertise and confidence.
