Credit Risk Modelling Actuary (Solvency II)

Standard Life plc; Birmingham; Hybrid; GBP 57,000 - 95,000; Full time

Benefits offered by this job

Private medical cover

38 days leave

Excellent pension

Life assurance 12x

Career breaks

Income protection

Volunteering days

Job summary

Standard Life plc is seeking a qualified actuary to lead the development and governance of the Solvency II Internal Model for credit risk. You will work with Asset Management, Risk and Finance to calibrate and validate the model, ensuring compliance with regulatory standards and embedding its use across the business.

The role emphasizes collaboration, continuous improvement, and proactive problem solving to enhance capital efficiency and decision making in a life insurance context.

Qualifications

• Qualified actuary with knowledge of credit risk capital models and illiquid assets.
• Strong knowledge of Solvency II requirements and internal model methodologies.
• Experience in insurance and investment risk within life insurance.

Responsibilities

• Support development of Solvency II Internal Model for credit risk across teams.
• Lead calibration, validation, governance, and documentation to Solvency II standards.
• Promote use of the credit risk model for decision making and risk management.
• Collaborate to develop capital methodologies for new asset classes and strategies.

Skills

Credit risk modelling

SII requirements

Stakeholder management

Problem solving

Commercial focus

Education

Actuary qualification

Tools

Python

VBA

Job description

Standard Life plc is seeking a qualified actuary to lead the development and governance of the Solvency II Internal Model for credit risk. You will work with Asset Management, Risk and Finance to calibrate and validate the model, ensuring compliance with regulatory standards and embedding its use across the business.

The role emphasizes collaboration, continuous improvement, and proactive problem solving to enhance capital efficiency and decision making in a life insurance context.