Model Risk Actuary: Broad Review & Governance Lead

Banking & Financial Services; Greater London; On-site; GBP 85,000 - 110,000; Full time

Job summary

Life Reinsurance in London seeks an Actuary into its Model Risk Management team. The role sits between an Analyst and senior review level, with ownership of independent model reviews and governance across pricing, reporting, economic capital and R&D.

The ideal candidate is a recently qualified actuary up to about 3 years PQE, eager to broaden experience beyond a single actuarial area and to challenge methodologies with senior stakeholders. A dynamic, global environment awaits.

Qualifications

• Recently qualified actuary with around 3 years PQE.
• Interest in broadening actuarial modelling experience across pricing, reporting, economic capital and R&D.
• Ability to provide independent challenge and governance.

Responsibilities

• Leading or taking significant ownership of independent reviews and validation of actuarial models.
• Assessing model methodologies, assumptions, controls and overall model robustness.
• Challenging modelling approaches and forming an independent view on whether methodologies are appropriate.
• Reviewing significant model changes and identifying areas of material model risk.
• Performing or overseeing independent baselining and validation work.
• Working directly with model owners to agree findings, recommendations and remediation actions.
• Monitoring progress against actions arising from previous reviews.
• Reviewing model inventory and risk assessments.
• Contributing to the development of model risk standards, governance and best practice.
• Producing clear review reports and management information for senior stakeholders.
• Supporting broader Model Risk Management initiatives across the business.

Skills

Independent model review

Challenge & governance

Stakeholder engagement

Education

Recently Qualified Actuary (c.3 Years PQE)

Job description

Life Reinsurance in London seeks an Actuary into its Model Risk Management team. The role sits between an Analyst and senior review level, with ownership of independent model reviews and governance across pricing, reporting, economic capital and R&D.

The ideal candidate is a recently qualified actuary up to about 3 years PQE, eager to broaden experience beyond a single actuarial area and to challenge methodologies with senior stakeholders. A dynamic, global environment awaits.