At a Glance
- Tasks: Manage and develop risk-based capital models while ensuring compliance with regulatory standards.
- Company: Join a leading life insurance company focused on innovation and collaboration.
- Benefits: Competitive salary, generous leave, private medical cover, and a bonus scheme.
- Other info: Opportunities for career progression and access to mental health resources.
- Why this job: Make a real impact in capital management and drive improvements using cutting-edge technology.
- Qualifications: Qualified Actuary with programming skills and experience in Solvency II regulations.
The predicted salary is between 60000 - 80000 £ per year.
A Senior Actuary in the Internal Model team supports the Head of Internal Model and Director of Capital Management to manage and develop risk-based capital models within the Group. The role covers all aspects of capital management and modelling and includes compliance with relevant regulatory standards around data, documentation, statistical quality, calibration and validation, taking into account changes in regulatory guidance and emerging industry practice. The Internal Model team supports the development of a stable capital position to enable delivery of organic capital generation.
Key Responsibilities
- Support the Head of Internal Model and Director of Capital Management in managing and measuring the Group’s capital position.
- Leverage new technologies to develop and maintain the Group’s Internal Model, supporting Solvency II/UK, IFRS and US GAAP balance sheets, risk appetite and the ORSA.
- Ensure the ongoing maintenance of a fully‑documented Internal Model which complies with all Solvency II tests and standards.
- Manage the implementation of first line Internal Model validation activities in accordance with the validation framework.
- Develop the methodology for and deliver capital impact assessments for Group projects such as new asset classes and new products.
- Promote the use of the Internal Model by engaging with other relevant parts of the business.
- Collaborate with key stakeholders to develop BAU processes to run efficiently and deliver robust results.
- Coach and manage more junior members of the Internal Model team.
Day‑to‑Day Activities
- Drive improvements in the Internal Model using new technologies.
- Assess the capital model implications of Group projects.
- Identify risks, issues and opportunities that could impact the capital position.
- Support Project Owners to ensure projects are implemented in a capital efficient way.
- Propose and prepare analysis to support papers for the Internal Model Technical Forum (IMTF).
- Contribute to the delivery of the recalibration of Internal Model risks.
- Contribute to the annual proxy structure review.
- Contribute to responses to PRA queries, ad‑hoc data requests and deep dives relating to the Internal Model.
- Review the internal rating methodology for LTM senior notes.
- Become established as a technical lead in a number of areas of the Internal Model.
Skills and Knowledge
- Understanding of a life insurer’s balance sheet and capital requirements.
- Understanding of business processes within a life insurance company.
- Ability to manage defined projects with focus on efficient delivery.
- Experience of utilising technological advancements to innovate and improve processes.
- Recent experience of Solvency II/UK as applied to UK life insurers.
- Previous experience of statistical and stochastic models or wider internal model methodologies.
- Experience of developing practical solutions to complex technical issues.
- Ability to assess the materiality of issues and determine appropriate courses of action.
- Programming experience (e.g. Python, VBA, R).
- Qualified Actuary FIA, FFA or equivalent.
What’s in it for you
- A competitive salary, pension scheme and life assurance.
- 25 days annual leave plus an additional day on us for your birthday.
- Private medical cover and income protection.
- A generous and highly achievable bonus scheme.
- Opportunities to progress your career in‑role and within the company.
- Free access to the Headspace app, 24/7 employee assistance helpline and trained physical and mental health first aiders.
- A variety of employee‑funded benefits available via our online benefits portal.
- Several additional purchase options available for you and your loved ones.
Senior Actuary - Internal Model employer: Just Group plc
As a Senior Actuary in our Internal Model team, you will thrive in a dynamic work environment that champions innovation and collaboration. We offer a competitive salary, generous benefits including private medical cover and a robust bonus scheme, alongside ample opportunities for career progression within a supportive culture that prioritises employee well-being and development. Join us in a location that fosters professional growth while contributing to the stability and success of our capital management strategies.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Actuary - Internal Model
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Just Group plc). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Just Group plc. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Senior Actuary - Internal Model
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Just Group plc.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Just Group plc. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Just Group plc
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Just Group plc to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Just Group plc, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Just Group plc's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
