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- Tasks: Lead the development and validation of partial internal models under Solvency II.
- Company: Join a renowned UK life and pensions company committed to your growth and innovation.
- Benefits: Enjoy hybrid working, flexible hours, and a supportive, collaborative office environment.
- Why this job: Tackle complex problems in a diverse team while developing new skills and ideas.
- Qualifications: Qualified Actuary with 5+ years in model development and validation, preferably in financial services.
- Other info: Stay updated with industry trends and ensure compliance with regulatory standards.
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.
Partial Internal Model Actuary employer: The Actuary Group
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 have experience in partial internal models. Attend industry events or webinars to connect with potential colleagues and learn about their experiences at similar companies.
✨Tip Number 2
Familiarise yourself with Solvency II regulations and the latest trends in model development. This knowledge will not only help you in interviews but also demonstrate your commitment to staying updated in a rapidly evolving field.
✨Tip Number 3
Prepare to discuss specific examples of how you've tackled complex problems in your previous roles. Highlight your experience with data analysis and model validation, as these are key responsibilities for the role.
✨Tip Number 4
Showcase your collaborative skills by discussing past projects where you worked with cross-functional teams. Emphasising your ability to communicate effectively with stakeholders will align well with the company's focus on teamwork.
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 in model development and validation. Emphasise your qualifications and any specific projects that align with the responsibilities outlined in the job description.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for the role and the company. Mention how your skills and experiences make you a perfect fit for their collaborative and innovative environment. Be sure to address your understanding of Solvency II and regulatory compliance.
Showcase Your Analytical Skills: In your application, provide examples of how you've successfully analysed large datasets and derived insights that informed model assumptions. This will demonstrate your ability to tackle complex problems, which is crucial for this role.
Highlight Continuous Learning: Mention any recent training, certifications, or industry trends you've kept up with that relate to the role. This shows your commitment to professional development and aligns with the company's focus on developing its people.
How to prepare for a job interview at The Actuary Group
✨Showcase Your Technical Skills
As a Partial Internal Model Actuary, you'll need to demonstrate your expertise in model development and validation. Be prepared to discuss specific projects you've worked on, the methodologies you used, and how you ensured compliance with Solvency II requirements.
✨Emphasise Collaboration
This role involves working closely with various internal stakeholders. Highlight your experience in collaborative environments and provide examples of how you've successfully gathered requirements and provided insights to different teams.
✨Stay Updated on Industry Trends
Your potential employer values innovative thinking and staying current with industry trends. Be ready to discuss recent developments in the actuarial field, regulatory changes, and how they might impact model development and validation.
✨Prepare for Scenario-Based Questions
Expect questions that assess your problem-solving abilities. Prepare to discuss how you would approach complex modelling challenges or validate assumptions using large datasets. Use the STAR method (Situation, Task, Action, Result) to structure your responses.
