MODEL RISK ACTUARY, DIVISIONAL | 30166

The Emerald Group Ltd, Search and Selection; Greater London; On-site; GBP 60,000 - 85,000; Full time

Job summary

The Emerald Group Ltd, Search and Selection is seeking a qualified actuary to lead independent actuarial model reviews within the Model Risk Management (MRM) framework. You will coordinate reviews, monitor remediation actions, and deliver risk information to business leaders.

Strong governance knowledge and model validation experience are required, with the ability to challenge methodologies and clearly communicate findings to senior stakeholders in life insurance and reinsurance contexts.

Qualifications

• Must be a qualified actuary with relevant actuarial modelling experience.
• Experience in model validation and risk oversight is essential.
• Knowledge of governance, controls, documentation, testing and review standards for actuarial models.

Responsibilities

• Schedule independent reviews of actuarial models under MRM framework.
• Conduct targeted reviews in response to business requests or major model changes.
• Monitor and track remediation actions from previous reviews.
• Develop and present model risk management information for leaders.

Skills

Actuarial modelling

Model validation

Risk oversight

Governance understanding

Analytical thinking

Education

Qualified Actuary

Tools

Actuarial software

Job description

Overview

Key responsibilities including but not limited to the following:

• Scheduled independent reviews of actuarial models under Model Risk Management (MRM) Framework
• Targeted reviews in response to specific business requests, operational events or major model change
• Monitoring and reviewing model owners' progress in addressing agreed remediation actions from previous reviews
• Develop and deliver model risk management information for business leaders
• Identify recurring model risk themes and deliver strategic model risk, governance and process improvement initiatives
• Present findings and recommendations clearly to model owners, senior leaders and wider business stakeholders
• Drive collaboration on strategic improvements between Line 1 delivery teams and Model Risk
• Take ownership of complex reviews and initiatives, coordinate input from reviewers and stakeholders, contribute to review priorities, and support the development of junior colleagues

Overview

Key responsibilities including but not limited to the following:

• Scheduled independent reviews of actuarial models under Model Risk Management (MRM) Framework
• Targeted reviews in response to specific business requests, operational events or major model change
• Monitoring and reviewing model owners' progress in addressing agreed remediation actions from previous reviews
• Develop and deliver model risk management information for business leaders
• Identify recurring model risk themes and deliver strategic model risk, governance and process improvement initiatives
• Present findings and recommendations clearly to model owners, senior leaders and wider business stakeholders
• Drive collaboration on strategic improvements between Line 1 delivery teams and Model Risk
• Take ownership of complex reviews and initiatives, coordinate input from reviewers and stakeholders, contribute to review priorities, and support the development of junior colleagues

Qualifications Required

• Qualified Actuary

Experience Required

• Relevant experience in actuarial modelling, model validation or risk oversight
• Good knowledge of actuarial model solutions and modelling software
• Good understanding of life insurance & reinsurance industry
• Understanding of effective governance, control design, documentation, testing and review standards for actuarial models
• Proven ability to proactively problem solve and challenge existing practices
• Ability to exercise independent judgement, constructively challenge methodologies and practices, and explain evidence-based views clearly
• Experience planning and delivering technical review work across competing priorities
• Strong report writing experience