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- Tasks: Manage and develop risk-based capital models for a leading financial services company.
- Company: Just is a FTSE 250 company focused on innovative retirement solutions.
- Benefits: Enjoy flexible working, a commitment to sustainability, and a supportive team culture.
- Other info: Be part of a team dedicated to achieving Net Zero emissions and promoting diversity.
- Why this job: Join a purpose-driven company that values inclusivity and makes a real impact on people's lives.
- Qualifications: Ideal for those with a background in finance, mathematics, or related fields.
The predicted salary is between 43200 - 72000 £ per year.
At Just we encourage a flexible and agile working environment for the majority of our opportunities. Who are Just? We’re a FTSE 250 Financial Services company who specialise in retirement solutions. With the defined benefit buy in / buy out space growing each year, Just continues to annually grow its business by over £4bn of assets. We are a purpose driven company with compelling and credible goals. Quite simply, we help people achieve a better later life by providing competitive and innovative products, services, financial advice and guidance to help our customers achieve security and peace of mind in retirement.
Purpose
In this role you will help 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.
Job Role Accountabilities
- To support the Head of Internal Model in managing and measuring the Group's capital position, including:
- Leveraging new technologies to develop and maintain the Group's Internal Model, to support Solvency II and IFRS balance sheets, risk appetite and the ORSA, including proposing, designing and implementing changes where necessary.
- Ensure the ongoing maintenance of a fully-documented Internal Model which complies with all Solvency II tests and standards on an ongoing basis.
- Implement first line Internal Model validation activities in accordance with the validation framework and facilitate appropriate action in response to validation findings.
- Support capital impact assessments for Group projects.
- Develop BAU processes to run efficiently and deliver robust results, so that timely information can be provided to the wider business.
- Manage more junior members of the Internal Model team.
Examples of Key Activities
- Contribute to delivery of an annual recalibration of the Internal Model risks to ensure the Internal Model remains up to date, leading work on the calibration of some of the Internal Model risk groups.
- Contribute to delivery of the annual proxy structure review.
- Drive improvements in the Internal Model using new technologies, including leading the development and transformation of some of the team’s existing tools and processes.
- 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 Governance Forum (‘IMGF’) to report on the activities related to the Internal Model to assist the Group CRO to manage the model.
- Become established as a technical lead in a number of areas of the Internal Model.
Why Just?
We are committed to building a more sustainable business and have publicly committed to reduce our scope 3 emissions to Net Zero by 2050 and our scope 1 and 2 emissions to Net Zero by 2025. We encourage our people to make small and meaningful changes in their everyday lives. Diversity, Equity and inclusion (DE&I) is a key priority for Just as part of our overall strategy. We have joined a number of initiatives including the Race at Work Charter, designed to improve outcomes for employees from underrepresented backgrounds. We also run a Reciprocal Mentoring scheme for employees from diverse backgrounds.
What’s clear about working at Just is that we care. We care about our customers, our purpose, our environment, inclusivity, wellbeing and most importantly - each other.
About Us
We’re a FTSE 250 Financial Services company who specialise in retirement solutions. A new generation of retirees needs a new kind of retirement company. A company who will look for new ways of doing things – and will always put the customer first. We’ve built our sustainability strategy around the United Nations Sustainable Development Goals (SDG) and have selected goals where we believe we can make the most difference. By aligning our activity with these global goals, we can make sure we play our part in addressing the wider issues facing the planet. Diversity, equity and inclusion are priorities for us. Having a diverse, talented workforce is the right thing to do. We are committed to our targets on gender and ethnicity and run a number of successful mentoring and sponsorship programmes for our colleagues from diverse backgrounds.
What’s clear about working at Just is that we care. We look forward to welcoming you to the team soon.
Actuary (Internal Models Team) employer: Just Group
Contact Detail:
Just Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Actuary (Internal Models Team)
✨Tip Number 1
Familiarise yourself with Solvency II and IFRS standards, as these are crucial for the role. Understanding the regulatory landscape will not only help you in interviews but also demonstrate your commitment to compliance and risk management.
✨Tip Number 2
Showcase your experience with capital models and risk assessment tools. Be prepared to discuss specific technologies or methodologies you've used in previous roles that align with the responsibilities of the Internal Models Team.
✨Tip Number 3
Network with professionals in the actuarial field, especially those who work in internal modelling. Engaging with industry peers can provide insights into current trends and challenges, which you can reference during your discussions with us.
✨Tip Number 4
Demonstrate your leadership skills, particularly if you have experience managing junior team members. Highlight any mentoring or training initiatives you've led, as this aligns with the role's requirement to manage more junior members of the team.
We think you need these skills to ace Actuary (Internal Models Team)
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Actuary position within the Internal Models Team. Tailor your application to highlight relevant experience and skills that align with the job description.
Highlight Relevant Experience: In your CV and cover letter, emphasise any previous experience in risk-based capital models, compliance with regulatory standards, or any relevant technologies you've worked with. Use specific examples to demonstrate your expertise.
Showcase Your Technical Skills: Given the technical nature of the role, be sure to mention any programming languages, statistical software, or modelling tools you are proficient in. This will help illustrate your capability to contribute to the development and maintenance of the Internal Model.
Express Your Commitment to Values: Just values sustainability, diversity, and inclusion. In your application, reflect on how your personal values align with these principles. Mention any initiatives or experiences that demonstrate your commitment to these areas.
How to prepare for a job interview at Just Group
✨Understand the Role and Responsibilities
Make sure you thoroughly understand the key accountabilities of the Actuary position. Familiarise yourself with capital management, risk-based capital models, and regulatory standards like Solvency II. This will help you demonstrate your knowledge and how you can contribute to the team.
✨Showcase Your Technical Skills
Be prepared to discuss your experience with statistical modelling, data analysis, and any relevant technologies you've used in previous roles. Highlight specific projects where you've successfully implemented or improved internal models, as this aligns with the expectations of the role.
✨Emphasise Your Team Management Experience
Since the role involves managing junior members of the Internal Model team, be ready to share examples of your leadership style and how you've supported the development of others in your past positions. This will show that you're not only technically proficient but also a strong team player.
✨Align with Company Values
Just places a strong emphasis on sustainability, diversity, and inclusion. Research their initiatives and be prepared to discuss how your values align with theirs. Showing that you care about these issues will resonate well with the interviewers and demonstrate your fit within the company culture.