Senior Validation Actuary

Allianz; London; Hybrid; GBP 200,000 +; Full time

Job summary

A leading global insurance company in London is seeking a Model Validation Lead. This role involves leading the independent model validation process, ensuring regulatory compliance, and supporting the Risk Actuarial Director. Candidates must have strong knowledge in non-life insurance capital modelling, excellent communication skills, and relevant qualifications such as Fellowship in Actuarial Sciences. Flexible working options and a comprehensive benefits package are offered.

Benefits

Flexible buy/sell holiday options

Hybrid working

Annual performance related bonus

Contributory pension scheme

Development days

Discounts on insurance products

Retail discounts

Volunteering days

Qualifications

• Conduct independent model validations and produce validation reports.
• Develop and maintain validation frameworks according to regulatory requirements.
• Engage stakeholders and build trusted relationships.

Responsibilities

• Lead independent model validation for Allianz UK's Internal Model.
• Support Risk Actuarial Director in governance responsibilities.
• Manage model validation processes and influence department culture.

Skills

Strong non-life insurance capital modelling knowledge

Knowledge of UK regulatory requirements

Strong communication skills

Ability to present independent opinions

Agile and flexible mindset

Education

Fellow of the Institute and Faculty of Actuaries

2:1 degree in a quantitative subject

Job description

Role Description

Reporting to the Allianz UK Risk Actuarial Director, this Second Line of Defence role is to lead independent model validation and support the Risk Actuarial Director in managing the associated interactions with the Executive Management, the UK Board, PRA and Allianz Group.

The role holder will drive good industry practices in independent model validation and will support the Risk Actuarial Director in the leadership of the independent model validation process and governance for Allianz UK's Internal Model and Standard Formula calculations, providing direction to the Risk Actuaries and Analysts in the Risk Actuarial team. The role holder will be responsible for providing inputs into and support the governance responsibilities of the Allianz UK Model Committee.

Location: London

Salary Information

Pay is based on relevant experience, skills for the role, and location. Salary is only one part of our total reward package.

About You

• Independent Internal Model Validation: Conduct independent review and challenge of the Allianz UK Internal Model including ongoing re-validation and validation of model changes, validating central Group and local model components and providing top-down aggregate validation across all areas. Produce the Allianz UK Annual Validation Report, summarising all model validation activities and concluding on ongoing model appropriateness to enable Board sign-off. Develop and maintain robust model validation framework and processes.
• Independent Standard Formula Validation: Conduct independent review of Standard Formula appropriateness.
• Policy and Documentation Development: Develop and maintain comprehensive policies and documentation in respect of model validation to meet UK regulatory requirements and Allianz Group standards. Monitor the maintenance of model related policies and documentation, ensuring compliance with relevant regulations (e.g., Solvency II, Solvency UK).
• Monitoring External Environment: Monitor external factors, legislation and regulatory changes, to assess their potential impact on the internal model.
• Three Lines of Defence: Engage and collaborate with First line Risk teams, Second Line Compliance and Internal Audit.
• Strategy Development and Execution: Support the Risk Actuarial Director and Head of Actuarial in developing and executing the strategy and direction of the Risk Actuarial team within the Second-line Risk function, and in particular that relating to validation and oversight of capital modelling.
• Team Leadership and Management: Assist in the leadership and development of a Risk Actuary and Risk Actuarial Analyst through the day to day management of model validation, ensuring all model validation processes are adequately specified and executed. Support the Risk Actuarial Director with the wider leadership of the Second Line Risk Actuarial team, influencing department culture.

Essential Skills

Technical skills

• Strong non-life insurance capital modelling and internal model validation technical knowledge and experience.
• Working knowledge of UK regulatory requirements including Solvency UK and is familiar with Solvency II.
• Outcome focused, self-motivated, agile, and flexible.
• Strong communication and report writing skills, experience in preparing reports and presentations for senior management, executive committees and Boards.
• Demonstrates confidence and resolve in presenting independent opinions.

Qualifications

• Fellow of the Institute and Faculty of Actuaries (or equivalent qualification or experience).
• A strong academic record, with at least a 2:1 degree in a quantitative subject such as Mathematics, Statistics or Business.

Experience

• Experience in the UK non-life Insurance market and with internal models and model validation.
• Knowledge of the latest developments and industry practice regarding internal models and model validation.
• Experience of engaging stakeholders, building trusted relationships and influencing effectively.
• Experience in leading and developing high performing teams.

What We Will Offer You

Recognised and rewarded for a job well done, we have a range of flexible benefits for you to choose from- so you can pick a package that's perfect for you. We also offer flexible working options, global career opportunities across the wider Allianz Group, and fantastic career development and training. That's on top of enjoying all the benefits you'd expect from the world's number one insurance brand, including:

• Flexible buy/sell holiday options
• Hybrid working
• Annual performance related bonus
• Contributory pension scheme
• Development days
• A discount up to 50% on a range of insurance products including car, home and pet
• Retail discounts
• Volunteering days

Our Ways of Working

Do you need flexibility with the hours you work? Let us know as part of your application and if it's right for our customers, our business and for you, then we'll do everything we can to make it happen. Here at Allianz, we are signatories of the ABIs flexible working charter. We believe in supporting hybrid work patterns, which balance the needs of our customers, with your personal circumstances and our business requirements. Our aim with this is to help innovation, creativity, and you to thrive - Your work life balance is important to us.

Integrity, Fairness, Inclusion & Trust

At Allianz, we believe in fostering an inclusive workforce and are proud to be an equal opportunity employer. Our commitment to equal opportunities, gender equity, and balanced gender representation, is demonstrated by our numerous accreditations: EDGE certified for gender inclusion, Women in Finance Charter members, Disability Confident employer, Stonewall Diversity Champion, Business in the Community's Race at Work Charter signatories, and Armed Forces Covenant gold standard employer.

Accessible Application for All

As part of the Disability Confident Scheme, we support candidates with disabilities or long-term health conditions through the Offer an Interview Scheme, for those meeting the essential skills for the role.

Contact our Resourcing team to opt into this scheme or for assistance with your application, including larger text, hard copies, or spoken applications. [e-mail]

For any inquiries or to submit your application, please contact: Cathryn Thomas

If you are an at-risk candidate facing potential redeployment, please include this information in your CV.

Closing date 11th August 2025

We reserve the right to close the advert early if we reach enough applications.

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