At a Glance
- Tasks: Lead the development of internal models to drive strategic business decisions.
- Company: Join Canada Life UK, a leader in financial services with a focus on innovation.
- Benefits: Enjoy a competitive salary, generous pension, and flexible working options.
- Other info: Be part of a dynamic team with opportunities for personal and professional growth.
- Why this job: Make a real impact by optimising internal models and driving commercial success.
- Qualifications: Proven experience in internal model development and strong project management skills.
The predicted salary is between 80000 - 100000 £ per year.
Accountable for implementing the internal model (IM) change agenda, including development of minor and major model change proposals, to support strong commercial outcomes and strategic business decisions for Canada Life UK. Responsible for integrating the use of the model in strategic areas such as investments, ALM, pricing, reinsurance, and risk management.
Responsibilities
- Lead the development and optimisation of the internal model.
- Provide strong commercial support and strategic guidance for the organization.
- Integrate the internal model into business decisions in areas such as investments, ALM, pricing, reinsurance, and risk management.
- Drive innovation to improve the efficiency and effectiveness of the internal model.
- Operate the internal model and maintain its ongoing appropriateness.
- Own the internal model’s methodology and change program, including the harmonisation of the PIM, enhanced PIM or full internal model development, matching adjustment under stress, stochastic aggregation, and proxy modelling.
- Lead internal and external stakeholder management, ensuring clear understanding of the model’s use and maintaining strong regulatory engagement.
- Communicate effectively in oral and written form with internal stakeholders, senior executives, relevant boards, and the Prudential Regulatory Authority.
- Obtain regulatory approval for all major internal model changes, including new asset class additions.
- Build and motivate a high‑performing team, providing direction, guidance, and coaching for continuous improvement.
- Maintain a robust external network with other financial institutions, consultancies, and professionals.
Desired Skills
- Hands‑on internal model development experience, including Credit MMC experience.
- Strong engagement experience with the PRA.
- Proficiency in Python programming and prototyping.
- Experience with matching adjustment under stress, credit risk modelling, and stochastic aggregation frameworks.
Qualifications
- In‑depth knowledge of internal models and a proven track record of driving change, innovation, and optimisation.
- Experience developing internal model components from scratch and obtaining regulatory approval.
- Proven prototyping capability.
- Excellent technical skills with specialist knowledge of Solvency II, Credit Risk & MAUS, and aggregation techniques for internal models.
- Strong project‑management skills and ability to manage multiple priorities.
- Strong commercial outlook and ability to apply technical expertise to analyse risk and capital information commercially.
- Excellent written and verbal communication skills, with a clear and articulate style suitable for senior management.
- Strong influencing skills, having engaged senior management and regulators to achieve desired outcomes.
- Strong interpersonal and networking skills, with the ability to maintain a variety of relationships.
- Track record of delivering under tight time pressure.
- Self‑motivated, well‑organised, pragmatic, and able to work independently.
- Qualified Actuary with current IFoA membership.
Benefits of working at Canada Life
- Competitive salary and comprehensive reward package, including a generous pension and bonus scheme, income protection, private medical insurance, and life assurance.
- Regular personal and professional development opportunities are also provided.
- Flexible working arrangements, including part‑time, are available and can be discussed for any role.
Head of Internal Model Design in London employer: Irish Life Group Services Limited
Canada Life UK is an exceptional employer that prioritises employee growth and development, offering a competitive salary alongside a comprehensive benefits package, including a generous pension scheme and private medical insurance. The company fosters a flexible working culture, allowing for part-time arrangements, and encourages innovation and collaboration within a high-performing team environment, making it an ideal place for professionals seeking meaningful and rewarding careers in the financial services sector.
Contact Details:
Irish Life Group Services Limited Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Head of Internal Model Design in London
✨Tip Number 1
Network like a pro! Reach out to professionals in the industry, attend relevant events, and connect with people on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by practising common questions and scenarios related to internal model design. We recommend doing mock interviews with friends or mentors to boost your confidence and refine your answers.
✨Tip Number 3
Showcase your skills! Create a portfolio that highlights your hands-on experience with internal models, Python programming, and any successful projects you've led. This will give you an edge when discussing your qualifications.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you're genuinely interested in joining our team at Canada Life UK.
We think you need these skills to ace Head of Internal Model Design in London
Some tips for your application 🫡
Tailor Your Application:Make sure to customise your CV and cover letter to highlight your experience with internal model development and regulatory engagement. We want to see how your skills align with our needs, so don’t hold back on showcasing your relevant achievements!
Showcase Your Technical Skills:Since the role requires proficiency in Python and a solid understanding of Solvency II, be sure to mention any projects or experiences that demonstrate these skills. We love seeing practical examples of how you've applied your technical expertise in real-world scenarios.
Communicate Clearly:Your written communication should reflect the clarity and professionalism we expect at Canada Life. Keep your language straightforward and articulate, especially when discussing complex topics like risk management and model optimisation. Remember, we’re looking for someone who can communicate effectively with senior management!
Apply Through Our Website:We encourage you to submit your application through our website. It’s the best way for us to receive your details and ensures you’re considered for the role. Plus, it gives you a chance to explore more about what we do at Canada Life!
How to prepare for a job interview at Irish Life Group Services Limited
✨Know Your Internal Model Inside Out
Make sure you have a deep understanding of internal models, especially the specific methodologies and frameworks mentioned in the job description. Be ready to discuss your hands-on experience with model development and how you've driven change and innovation in previous roles.
✨Showcase Your Regulatory Engagement Skills
Since strong engagement with the Prudential Regulatory Authority is crucial, prepare examples of how you've successfully navigated regulatory approvals in the past. Highlight your communication skills and how you've influenced senior management and regulators to achieve desired outcomes.
✨Demonstrate Your Technical Proficiency
Brush up on your Python programming skills and be prepared to discuss any prototyping work you've done. You might even want to bring along examples of your work or projects that showcase your technical expertise in credit risk modelling and stochastic aggregation.
✨Prepare for Stakeholder Management Questions
Expect questions about how you've managed internal and external stakeholders in the past. Think of specific instances where you maintained strong relationships and communicated effectively with various parties, including senior executives and boards. This will show your ability to integrate the internal model into strategic business decisions.
