ALM Manager (Actuarial)

Oliver James; Greater London; Hybrid; GBP 70,000 - 90,000; Full time

Job summary

A major UK financial services group is seeking an ALM Manager to oversee financial risk across various divisions. This role involves collaborating with business units to align market-risk strategies and developing ALM frameworks. The ideal candidate will possess strong knowledge of Solvency II, investments, and market moves, with a few years of post-qualification experience. This position offers a hybrid working model, allowing 2 days per week in the London office, emphasizing clear communication of complex risks to senior stakeholders.

Qualifications

• A few years' post-qualification experience in relevant fields.
• Understanding of Solvency II balance-sheet mechanics.
• Experience in interpreting market moves through financial metrics.

Responsibilities

• Align business units on market-risk exposures under Solvency II.
• Identify inefficiencies or optimization opportunities across the balance sheet.
• Develop and embed ALM and investment-risk frameworks at group level.

Skills

Strong understanding of Solvency II balance-sheet mechanics

Good knowledge of investments, derivatives, and hedging

Ability to interpret market moves

Confidence engaging with senior stakeholders

Comfortable working with data and code-based tools

Education

Post-qualification experience (actuarial, investment or accounting)

Tools

Excel

Python/R

Job description

ALM Manager - Group-Level Financial Risk

Helping shape balance‑sheet strategy across a major UK financial services group. We're working with a large, well‑established financial services group that's looking for an ALM Manager to join its central team. This team sits at the heart of the business, overseeing financial risk across multiple divisions – from retirement and investment management to retail businesses.

If you enjoy the mix of technical analysis, commercial thinking and senior‑stakeholder conversations, this is very much that kind of role.

What the role actually involves day to day

You’ll be part of a small, high‑impact team that makes sure different parts of the organisation are aligned on how they manage interest rate, inflation, currency, credit and equity risks. That includes:

• Working closely with business units to understand their market‑risk exposures under Solvency II, IFRS and liquidity metrics
• Spotting inefficiencies or optimisation opportunities across the balance sheet
• Helping develop and embed ALM and investment‑risk frameworks at group level
• Connecting macroeconomic views to ALM strategy – e.g., scenario ideas, rebalancing opportunities, downside protection, value‑enhancement
• Producing concise, high‑quality MI for senior leadership and board‑level committees
• Working with the Group Treasury and Group Risk teams to ensure proposals are well‑challenged, well‑understood and aligned with wider risk appetite
• Supporting improvements to processes, models and tooling – there's an appetite for smarter, more automated ways of working

A lot of the impact here comes from how well you communicate complex risk in a simple, credible way. This is not about being the most technical quant in the room – it's about being able to break down a problem, prototype an idea (often in Excel first), and explain it clearly to senior decision‑makers.

Who will suit this role

They're looking for someone who is bright, dynamic and comfortable moving between technical detail and bigger‑picture thinking. You’ll likely have:

• A few years' post‑qualification experience (actuarial, investment or accounting backgrounds all work)
• A strong understanding of Solvency II balance‑sheet mechanics (particularly Matching Adjustment and capital requirements)
• Good knowledge of investments, derivatives and hedging
• The ability to interpret market moves and understand how they flow through IFRS, Solvency II and liquidity metrics
• Comfortable working with data and code‑based tools (Python/R a bonus)
• Confidence engaging with senior stakeholders
• Cannot support visa sponsorship

Team & working style

You'd be the third direct report to the hiring manager, joining a small team with a reputation for being sharp, collaborative and genuinely dynamic.

Hybrid working: 2 days per week in the London office.