MODEL RISK ANALYST, DIVISIONAL | 30168

The Emerald Group Ltd, Search and Selection; Greater London; On-site; GBP 45,000 - 65,000; Full time

Job summary

The Emerald Group Ltd, Search and Selection is seeking a near-qualified actuary to lead model risk reviews within life insurance and reinsurance contexts in Greater London. You will plan, execute and defend review conclusions, coordinating with senior stakeholders across the business.

With 3+ years in actuarial modelling or model risk, you will monitor remediation progress and deliver clear risk insights. Strong writing and stakeholder management are essential for success.

Qualifications

• Near-qualified actuary with progression toward fellowship or membership
• 3+ years of relevant experience in model risk or actuarial reviews
• Understanding of life insurance and reinsurance risk modelling
• Strong report writing and communication skills
• Ability to challenge methodologies and present evidence-based conclusions
• Experience ensuring governance, controls and documentation standards are followed

Responsibilities

• Scope, plan and deliver model risk reviews and defend conclusions
• Conduct scheduled independent reviews under MRM framework
• Perform targeted reviews in response to business requests or major model change
• Monitor remediation progress from previous reviews
• Develop and present model risk information for leaders
• Identify recurring risk themes and support governance initiatives
• Collaborate with Line 1 and Model Risk to drive improvements

Skills

Near-qualified actuary

3+ years of experience

Actuarial modelling software

Tools

Actuarial modelling software

Job description

Overview

Key responsibilities including but not limited to the following:

• Scope, plan and deliver model risk reviews while developing and defending review conclusions, including:
• Scheduled independent reviews of actuarial models under PL's 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 support strategic model risk, governance and process improvement initiatives
• Present findings and recommendations clearly to model owners, senior leaders and wider business stakeholders
• Support collaboration on strategic improvements between Line 1 delivery teams and Model Risk

Overview

Key responsibilities including but not limited to the following:

• Scope, plan and deliver model risk reviews while developing and defending review conclusions, including:
• Scheduled independent reviews of actuarial models under PL's 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 support strategic model risk, governance and process improvement initiatives
• Present findings and recommendations clearly to model owners, senior leaders and wider business stakeholders
• Support collaboration on strategic improvements between Line 1 delivery teams and Model Risk

Qualifications Required

• Near-qualified actuary
• 3+ years of relevant experience

Experience Required

• Good knowledge of actuarial models and modelling software
• Good understanding of life insurance & reinsurance industry
• Proven ability to proactively problem solve and challenge practices
• Ability to exercise independent judgement, constructively challenge methodologies and practices, and explain evidence-based views clearly
• Strong report writing skills
• Ability to manage competing priorities and projects
• Understanding of effective governance, control design, documentation, testing and review standards for actuarial models
• Experience planning and delivering technical review work across competing priorities
• Experience identifying and recommending solutions to critical issues