Head of Transaction & Quants Modelling Oversight

Phoenix; City of Edinburgh; Hybrid; GBP 140,000 - 165,000; Full time

Job summary

A leading financial services firm is seeking a qualified individual for financial risk oversight in Edinburgh. The role includes leading teams, providing oversight on transactions, and ensuring effective risk management. Ideal candidates should have substantial experience in life insurance, financial risk frameworks, and excellent communication skills. The organization offers up to £165,000, generous bonuses, and flexible working arrangements.

Benefits

Private medical cover

38 days annual leave

Excellent pension

Qualifications

• In-depth understanding of life insurance products (BPA and annuities).
• Strong understanding of regulatory frameworks and financial risk oversight.
• Proven ability in leading high-performing teams.

Responsibilities

• Lead oversight of transactions and model risk for Retirement Solutions.
• Provide Line 2 advice and challenge to the business.
• Define and implement effective risk oversight model.

Skills

In-depth understanding of life insurance products

Strong understanding of technical elements including solvency and liquidity

Proven ability to lead teams

Extensive experience in financial risk oversight

Excellent verbal and written communication

Job description

Job Description

Job Type: Permanent

Location: This role could be based in either our London, Birmingham or Edinburgh offices with time spent working in the office and at home.

Flexible working: All of our roles are open to part-time, job-share and other types of flexibility. We will discuss what is important to you and balancing this with business requirements during the recruitment process. You can read more about Phoenix Flex here.

Closing Date: 15.8.25

Salary and benefits: Up to £165,000 dependant upon experience plus an indicative bonus range of 30-60%, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.

What are we looking for?

The role leads delivery of effective oversight of transactions (including BPA and reinsurance), new propositions and pricing in Retirement Solutions and model risk oversight across Retirement Solutions and the Quants modelling team. This covers both technical and people leadership, as well as managing key stakeholders. The individual will work with the business and other Line 2 teams to ensure the Group develops and implements effective strategies for managing and mitigating financial risk. Key to this is ensuring the risk management framework and risk appetite is appropriate; and that an effective and efficient Line 2 oversight model is in place.

Who are we?

We want to be the best place that any of our 6,600 colleagues have ever worked.

We’re Phoenix Group, we’re a long-term savings and retirement business. We offer a range of products across our market-leading brands, Standard Life, SunLife, Phoenix Life and ReAssure. Around 1 in 5 people in the UK has a pension with us. We’re a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we’re not done yet

Key responsibilities

Support the Financial Risk Director through leading the oversight of transactions, Retirement Solutions new propositions and new business pricing, and model risk for Retirement Solutions and AM Quants Engineering. Provide Line 2 advice, guidance and challenge to the business, whilst working independently with minimal managerial oversight.

The role supports the risk partnering through influencing the business to take ownership of risk management and providing advice and guidance on how risk management can be improved to support delivery of business outcomes. The role is responsible for supporting the business in ensuring that material decisions appropriately consider key risks and trade-offs, and that that material risks have been properly identified and managed in line with Phoenix’s risk appetite. Line 2 opinions should consider the Group’s strategic objectives and consider the balance of commercial and risk implications. The individual should ensure both internal and external factors in assessing the forward looking risk profile of the Group as it relates to areas within scope of the Transactions & Quants Modelling Oversight team.

A key focus is fostering a collaborative work environment, helping the business navigate complex challenges and support finding commercial solutions. As such, the individual is expected to act as an escalation point for resolution of complex issues or decisions. A critical elements of the role is to communicate complex financial concepts simply and concisely to stakeholders (both financial and non-financial).

The role is responsible for defining, implementing and maintaining an effective and efficient risk oversight model. This includes ensuring the Line 2 oversight model is risk-based and proportionate and that there is clarity on the Line 2 activities in line with the three Lines of Defence Model and Risk Function Vision, Mission and Mandate. A key part of the role is ensuring the risk management frameworks and appetites remain appropriate, and that appropriate risk identification, measurement, management and MI and reporting is in place in the business, to allow for the ongoing monitoring of risk exposure against appetite.

The individual leads the Transactions & Quants Modelling Oversight team, developing a high-performing team that consistently exceeds expectations through strong communication, trust and accountability, business and team focus, outcome oriented goals, clear expectations and active management. Defining, prioritising and ensuring delivery of medium to long-term team priorities, ensuring delivery is efficient and meets budgetary, time and quality targets whilst maintaining effective oversight.

The individual should be active in the industry and external Risk community.

Essential

• In-depth understanding of life insurance products (in particular BPA and annuities), regulatory frameworks (Solvency UK, IFRS 17, UK GAAP), and the BPA, reinsurance and ERM market (inc. the specific risks from these types of transactions)
• Strong understanding of all key technical elements of the role (i.e. life insurance balance sheet, including solvency, liquidity, capital modelling and Matching Adjustment; quants engineering and model risk oversight). Deep knowledge of machine learning and complex modelling is an advantage.
• Proven ability in bringing teams together and leading delivery of enterprise-wide change in a large, complex organisation
• Experience in leading a medium to large team, with proven ability in developing a high-performing team
• Extensive experience in effective and efficient financial risk oversight (including developing risk frameworks and setting risk appetite), focusing on material risks and balancing commercial outcomes and risk considerations.
• Excellent verbal and written communications, with ability to communicate complex financial concepts simply and concisely
  
  

We want to hire the whole version of you.

We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you.

If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.

Please note that we reserve the right to remove adverts earlier than the advertised closing date. We encourage you to apply at the earliest opportunity.

Find out more about

• Guide for Candidates: thephoenixgroup.pagetiger.com/guideforcandidates
• Find or get answers from our colleagues: www.thephoenixgroup.com/careers/talk-to-us