Senior Quantitative Risk Actuary in London

The Senior Quantitative Risk Actuary is a key member of the 2nd line risk management function, responsible for delivering quantitative oversight across the validation, reserving, financial market and credit risk, and broader capital and risk assessment processes. The role is central to maintaining strong regulatory compliance, supporting the ORSA, and ensuring robust model governance aligned to Solvency II and Lloyd’s standards. The position requires a qualified actuary with experience in model validation and reserve risk assessment, and the ability to provide effective independent challenge across Capital Modelling, Reserving, Finance, and Risk stakeholders.

The role encompasses a broad range of risk management activities and as Senior Quantitative Risk Actuary your duties will include:

• Lead the end-to-end Internal Model validation process for S1084 and S1176, ensuring methodology, assumptions, governance and documentation meet Solvency II and Lloyd’s requirements.
• Produce the annual Validation Reports, articulating findings, limitations, and model improvements, and presenting these to risk and model governance Committees.
• Provide 2nd Line oversight of reserving processes, including review of assumptions, methodologies, uncertainty analyses, and reserve risk capital outputs.
• Perform independent reviews on key drivers such as inflation, claims emergence patterns, social/economic trends, and operational influences.
• Conduct independent assessment of market risk exposures, investment strategies, sensitivity analyses, and the appropriateness of methodologies used by 1st Line functions.
• Oversight of credit risk reviews covering reinsurance counterparties, broker credit, investment credit exposures, concentrations, and stress impacts.
• Provide quantitative challenge to capital charges, risk appetite metrics, and control effectiveness across market and credit risks.
• Develop, review, and challenge quantitative stress and scenario tests for the ORSA and independent validation, including macroeconomic, geopolitical, reserve related and market related stresses.
• Collaborate with Risk, Underwriting, Capital Modelling and Finance to ensure scenarios are severe but plausible, aligned to Lloyd’s expectations, and cover emerging risks.
• Produce ORSA inputs and analytical commentary to support forward looking capital and solvency assessments.
• Develop the 2nd Line model risk framework and review & challenge 1st line testing of models.
• Support business plan and strategy assessments through quantitative analysis such as scenario testing, considering emerging risks and risk profile changes.
• Support investigations into risk events, near misses, or unexpected model behaviours with quantitative analysis and challenge.

Essential Requirements:

• Internal Model Validation experience within a Lloyd’s or Solvency II regulated insurer.
• Strong technical understanding of reserve risk, including methodologies, assumptions, inflation analysis, and uncertainty.
• Hands on experience reviewing and challenging capital model components (parameterisation, dependency structures, model change, model outputs).
• Good understanding of insurance to enable effective engagement at all levels within the business.
• Good working knowledge of financial market risk and credit risk methodologies, including capital charges and stress/sensitivity analysis.
• Involvement in ORSA processes, including stress and scenario testing.
• Advanced analytical and critical thinking skills.
• Ability to communicate complex quantitative outputs clearly to senior stakeholders and governance committees.