Credit Rating Actuary

Royal London; Alderley Edge; Hybrid; GBP 90,000 - 120,000; Full time

Benefits offered by this job

28 days annual leave

Up to 14% employer matching pension scheme

Private medical insurance

Job summary

A leading UK mutual life company is seeking a Credit Rating Actuary to join their Annuities Credit Risk & Modelling team. This hybrid role focuses on preparing Internal Credit Quality Assessments for illiquid assets and involves strong technical skills and investment knowledge in assessing credit risks. The candidate must be a qualified actuary with knowledge of CRA methodologies and Solvency II regulations. The position offers attractive benefits, including 28 days of annual leave and a pension scheme.

Qualifications

• Qualified actuary with strong technical skills and investment knowledge.
• Experience in rating Commercial Real Estate Loans.
• Knowledge of Solvency II regulation as it applies to private assets.
• Knowledge of Solvency II regulation, especially as it applies to private assets within a Matching Adjustment fund.
• Excellent written and oral communication skills.
• Ability to influence senior stakeholders and regulators, deliver projects, and work collaboratively across the business.
• Strong problem-solving skills and the ability to provide constructive challenge.

Responsibilities

• Prepare Internal Credit Quality Assessments (ICQA) for illiquid assets.
• Conduct regular reviews of credit ratings for unrated assets.
• Support calibration of Internal Model stresses related to illiquid assets.
• Assist with changes to the Matching Adjustment application, including discussions with the PRA regarding new asset classes.
• Identify, measure, manage, and mitigate credit risks associated with unrated assets.
• Support the production of risk identification documents for new asset classes.
• Operate within the Group’s Risk Strategy & Appetite Framework, ensuring risk-based decisions are evidenced and documented.

Skills

Qualified actuary

Strong technical skills

Investment knowledge

Understanding of CRA methodologies

Experience in rating Commercial Real Estate Loans

Knowledge of Solvency II regulation

Excellent communication skills

Ability to influence stakeholders

Strong problem‑solving skills

Education

Actuarial qualification

Job description

Join to apply for the Credit Rating Actuary role at Royal London

Job Title: Credit Rating Actuary
Contract Type: Permanent
Location: Alderley Park, Edinburgh, or London
Working style: Hybrid 50% home/office based

Royal London Group has an exciting opportunity for a Credit Rating Actuary to join our Annuities Credit Risk & Modelling team within the Commercial business area. This team is responsible for generating internal ratings for illiquid private assets and developing modelling solutions for the matching adjustment. You will play a key role in supporting our growing annuity portfolio and ensuring compliance with regulatory requirements.

About the role

• Prepare Internal Credit Quality Assessments (ICQA) for illiquid assets held by the insurance company, focusing on those within the Matching Adjustment portfolio.
• Conduct regular reviews of credit ratings for unrated assets.
• Support the calibration of Internal Model stresses related to illiquid assets.
• Assist with changes to the Matching Adjustment application, including discussions with the PRA regarding new asset classes.
• Identify, measure, manage, and mitigate credit risks associated with unrated assets.
• Support the production of risk identification documents for new asset classes.
• Operate within the Group’s Risk Strategy & Appetite Framework, ensuring risk-based decisions are evidenced and documented.

About you

• Qualified actuary with strong technical skills and investment knowledge.
• Understanding of CRA credit rating methodologies for private fixed income markets.
• Experience in rating Commercial Real Estate Loans.
• Knowledge of Solvency II regulation, especially as it applies to private assets within a Matching Adjustment fund.
• Excellent written and oral communication skills.
• Ability to influence senior stakeholders and regulators, deliver projects, and work collaboratively across the business.
• Strong problem‑solving skills and the ability to provide constructive challenge.

About Royal London

We’re the UK’s largest mutual life, pensions and investment company, offering protection, long-term savings and asset management products and services.

Our People Promise to our colleagues is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by our Spirit of Royal London values; Empowered, Trustworthy, Collaborate, Achieve.

Benefits

We’ve always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance. You can see all our benefits here - Our Benefits

Inclusion, diversity and belonging

We’re an Inclusive employer. We celebrate and value different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills which are recognised and respected – whatever their background.