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- Tasks: Lead model validation and oversee outsourced reviews in a dynamic risk management role.
- Company: Join a leading insurance group experiencing exciting growth in the UK and internationally.
- Benefits: Enjoy hybrid working options and the chance to influence key business decisions.
- Why this job: Make a lasting impact on model risk practices while working with cutting-edge technologies like AI.
- Qualifications: Extensive experience in model validation and a strong grasp of insurance principles required.
- Other info: Opportunity to mentor junior analysts and represent the Risk function at senior forums.
The predicted salary is between 43200 - 72000 £ per year.
Lutine Bell are working with a leading insurance group undergoing a period of exciting UK and international growth, we’re looking to appoint a Model Validation & Risk Manager to join their high-performing Risk Function. This is a fantastic opportunity to play a key role in shaping and embedding best-in-class model risk practices, while also leading both hands-on validation work and oversight of outsourced model reviews. The team supports a broad range of business and corporate activity, offering real variety and influence in the day-to-day. With growing regulatory focus, strategic investment, and evolving model use (including AI and climate risk), this role offers huge scope for the right individual to make a lasting impact.
Key Responsibilities
- Lead the hands-on validation of Internal Capital Models, ensuring regulatory and internal standards are met.
- Manage and oversee outsourced validation activities, acting as a key point of contact for external providers and ensuring quality assurance.
- Provide independent review and challenge across a wide range of business-critical models (pricing, capital planning, catastrophe, AI).
- Develop and implement a robust Model Risk Framework, aligned with PRA expectations (CP6/22).
- Champion model risk as a strategic risk discipline across the business.
- Represent the Risk function at senior forums, including cross-functional working groups and Risk Committees.
- Support regulatory engagement and lead key risk communications.
- Line manage a sub-team, including mentoring and developing junior analysts.
- Deputise for the Head of Risk when required.
Experience Required
- Extensive experience in Solvency II, Internal Capital Models, and model validation.
- Proven ability to deliver both hands-on validation and manage outsourced model reviews.
- Broad knowledge of modelling approaches, and an eagerness to expand into areas like AI and climate modelling.
- A strong grasp of insurance business models and underwriting principles.
- Ability to communicate complex risk concepts clearly and concisely to senior audiences.
- Experience in managing or coaching team members.
- A collaborative mindset with the confidence to lead cross-functional initiatives.
Please apply online as directed.
Model Validation Risk Manager employer: Lutine Bell
Contact Detail:
Lutine Bell Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Model Validation Risk Manager
✨Tip Number 1
Familiarise yourself with the latest regulatory requirements and best practices in model validation, especially those related to Solvency II. This knowledge will not only help you in interviews but also demonstrate your commitment to staying updated in a rapidly evolving field.
✨Tip Number 2
Network with professionals in the insurance and risk management sectors. Attend industry events or webinars where you can meet people who work in model validation. Building these connections can provide valuable insights and potentially lead to referrals.
✨Tip Number 3
Prepare to discuss specific examples of your experience with model validation and risk management during interviews. Highlight any projects where you've successfully led validation efforts or managed outsourced reviews, as this will showcase your hands-on expertise.
✨Tip Number 4
Demonstrate your understanding of emerging trends like AI and climate risk modelling. Being able to speak knowledgeably about these areas will set you apart from other candidates and show that you're forward-thinking and adaptable.
We think you need these skills to ace Model Validation Risk Manager
Some tips for your application 🫡
Understand the Role: Before applying, make sure to thoroughly understand the responsibilities and requirements of the Model Validation & Risk Manager position. Tailor your application to highlight relevant experience in Solvency II, Internal Capital Models, and model validation.
Highlight Relevant Experience: In your CV and cover letter, emphasise your extensive experience in model validation and your ability to manage outsourced reviews. Provide specific examples of how you've successfully led validation projects or developed model risk frameworks.
Showcase Communication Skills: Since the role requires clear communication of complex risk concepts, include examples in your application that demonstrate your ability to convey intricate information to senior audiences effectively.
Tailor Your Cover Letter: Craft a compelling cover letter that not only outlines your qualifications but also expresses your enthusiasm for the role and the company. Mention your eagerness to contribute to the evolving model use, including AI and climate risk.
How to prepare for a job interview at Lutine Bell
✨Understand the Regulatory Landscape
Familiarise yourself with Solvency II and the latest regulatory expectations. Being able to discuss how these regulations impact model validation will show your depth of knowledge and readiness for the role.
✨Demonstrate Your Technical Expertise
Prepare to discuss your experience with Internal Capital Models and model validation processes. Be ready to provide specific examples of hands-on validation work you've done and how you managed outsourced reviews.
✨Showcase Your Leadership Skills
Since the role involves line management, think about instances where you've successfully mentored or developed team members. Highlight your collaborative mindset and ability to lead cross-functional initiatives.
✨Communicate Complex Concepts Clearly
Practice explaining complex risk concepts in a straightforward manner. This is crucial as you'll need to communicate effectively with senior audiences and represent the Risk function at various forums.
