Capital Manager

PIC; London; On-site; GBP 50,000 - 90,000; Full time

Job summary

An established industry player is seeking a Capital Actuary to enhance its regulatory capital strategy and contribute to financial reporting. In this pivotal role, you will lead the technical development of risk models, ensuring they are robust and aligned with regulatory standards. You will also provide critical management information and analyses to support business objectives. Join a forward-thinking company that values innovation and offers a collaborative environment, where your expertise in quantitative finance will make a significant impact. Enjoy a competitive salary, performance bonuses, and excellent benefits, including private medical insurance and generous leave.

Benefits

Private Medical Insurance

28 Days Annual Leave

Generous Pension Scheme

Performance-Related Bonus Plan

Qualifications

• Experience in life office or consultancy, developing capital models.
• Strong knowledge of quantitative techniques for financial risks.

Responsibilities

• Support and optimize PIC's regulatory capital strategy and framework.
• Deliver management information on model design and performance.

Skills

Quantitative Skills

Financial Modelling

Python

R

MATLAB

Stakeholder Management

Communication Skills

Education

Fellow of the Institute and Faculty of Actuaries

Financial Risk Management (FRM)

Job description

Pension Insurance Corporation (“PIC”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Companywide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

PIC is recruiting for a Capital Actuary to join its Finance Actuarial and Capital team, which forms part of the Finance department within the “first line”, albeit working closely with the Risk Team. The team's purpose is to oversee, maintain and develop the regulatory capital framework and asset valuation methodology and models, and ensure that these remain optimised and appropriate to the PIC business and risk profile. The team is also expected to provide required management information and analysis to the business in an accurate and timely manner. In addition, it is the team’s responsibility to oversee, maintain and develop best estimate, MCEV and IFRS assumptions for use by PIC in financial reporting.

Reporting to, and working closely with, the Head of Market Capital, your responsibilities as Capital Actuary will include:

Internal Model Risk Models

1. Support activities to enhance and optimise the PIC regulatory capital strategy, framework and assumptions, with particular focus and specialisation on the market risk aspects, ensuring that such recommendations are thoroughly analysed and presented.
2. Take ownership of specific risk modules in the Internal Model and ensure that the approach, design, methodology, operation and results remain robust and appropriate for use in the PIC business and are consistent with the PRA approval of the Internal Model framework and its policies.
3. Lead on technical development of the Internal Model applying the appropriate quantitative techniques to ensure it is appropriate and suitable for use.
4. Lead on the technical development of the proxy model which sits outside the Internal Model to ensure it remains appropriate and suitable for use.

Analysis and Reporting

1. Ensure the delivery of management information on the design, assumptions and performance of the model and its components.
2. Manage the delivery of ad-hoc quantitative analyses and investigations.
3. Support other users of the Internal Model to understand the results and overcome any issues in running the models.
4. Support other members of the team as and when required to ensure overall team objectives are met.

Experience:

1. Experience of working within a life office or consultancy.
2. Experience in developing capital models and processes.
3. Experience working on proxy models is desirable.
4. Fellow of the Institute and Faculty of Actuaries or other relevant qualification such as Financial Risk Management (FRM) is desirable.

Knowledge:

1. Strong knowledge of quantitative techniques used for modelling financial risks.
2. Technical knowledge of UK life insurance environment, particularly for Solvency UK.
3. Knowledge of credit risk and/or ERM modelling is highly desirable.

Skills:

1. Strong quantitative skills in financial modelling more specifically in areas like proxy modelling, distribution fitting.
2. Good planning and stakeholder management skills with a proven ability to communicate and work effectively with senior roles.
3. Strong coding skills in one or more of the following statistical packages: Python (preferred), R or MATLAB.
4. Strong communication and report writing skills, in particular the ability to explain technical aspects to a non-technical audience.

Desirable personal attributes aligned to what success looks like in the role:

1. Intellectually curious with a willingness to learn through own research.
2. Strong problem-solving skills utilising consultative questioning to challenge current norms and drive change within the business function.
3. Effective communicator – structures insights into clear messages and effectively engages others within the business function, as well as internal stakeholders, professional and regulatory bodies.
4. Innovative thinker – positive attitude.

In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.