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About the Role

A Senior Actuary in the Internal Model team supports the Head of Internal Model and Director of Capital Management to manage and develop risk-based capital models within the Group. The role covers all aspects of capital management and modelling, ensuring compliance with regulatory standards and adapting to industry practices. The team's objective is to foster a stable capital position for organic capital generation.

Responsibilities

Leverage new technologies to develop and maintain the Group’s Internal Model for Solvency II/UK, IFRS, and US GAAP balance sheets, risk appetite, and ORSA.
Ensure ongoing maintenance of a fully-documented Internal Model compliant with Solvency II tests and standards.
Manage the implementation of first-line Internal Model validation activities and facilitate responses to findings.
Develop methodology for and deliver capital impact assessments for Group projects.
Promote the use of the Internal Model by engaging with Investments, ALM, and Pricing teams.
Collaborate with stakeholders to develop efficient BAU processes and deliver robust results.
Coach and manage more junior members of the Internal Model team.
Drive improvements in the Internal Model using new technologies and lead the transformation of existing tools and processes.
Assess capital model implications of Group projects.
Identify risks, issues, and opportunities impacting the capital position.
Support Project Owners in implementing capital-efficient projects.
Propose and prepare analysis for the Internal Model Technical Forum (IMTF) to report on Internal Model activities.
Contribute to the recalibration of Internal Model risks to ensure it remains up-to-date.
Contribute to the annual proxy structure review.
Contribute to responses to PRA queries, data requests, and deep dives related to the Internal Model.
Review the internal rating methodology for LTM senior notes.
Become established as a technical lead in several areas of the Internal Model.

Requirements

Proven problem analysis and resolution skills.
Strong technical and analytical skills.
Strong verbal, written communication, and interpersonal skills.
Proficient in the latest technology tools.
Understanding of the products and services provided by the Group.
Understanding of a life insurer’s balance sheet and capital requirements.
Understanding of business processes within a life insurance company.
Ability to manage defined projects with a focus on efficient delivery.
Experience utilizing technological advancements to innovate and improve processes.
Recent experience of Solvency II/UK as applied to UK life insurers.
Previous experience of statistical and stochastic models or wider internal model methodologies.
Experience developing practical solutions to complex technical issues.
Ability to assess the materiality of issues and determine appropriate courses of action.
Programming experience (e.g., Python, VBA, R).

Skills

Internal Model development and management
Capital management and modelling
Solvency II compliance
Data, documentation, statistical quality, calibration, and validation
Regulatory standards
Risk appetite
ORSA
New technologies
Validation framework
Capital impact assessments
Stakeholder engagement
Process improvement
Project management
Technical analysis
Programming (Python, VBA, R)

Location

London

Work Type

Hybrid - 50%
Permanent
35 hours

Experience Level

Senior
Qualified Actuary FIA, FFA or equivalent

Education Level

Qualified Actuary FIA, FFA or equivalent

Benefits

Competitive salary
Pension scheme
Life assurance
25 days annual leave plus an additional day on us for your birthday
Private medical cover
Income protection
Generous and highly achievable bonus scheme
Opportunities to progress career
Free access to the Headspace app
24/7 employee assistance helpline
Trained physical and mental health first aiders
Variety of employee funded benefits via online portal
Several additional purchase options

About the Company

We help people achieve a better later life.
We are a fast-growing company helping customers enjoy the retirement they deserve.
We offer market leading, award-winning products and services.
We have a diverse team of over 1,400 purpose-led colleagues.
We are on an exciting growth journey to become the UK’s most loved retirement expert.

Equal Opportunity

Valuing diversity of thought and fostering a sense of belonging is critical to our business success, driving innovation and balanced decision making.
Our work on DEIB (Diversity, Equity, Inclusion and Belonging) aims to deliver a brilliant employee experience underpinned by a sense of belonging, where our people feel proud to work at Just.
We remain committed to our publicly disclosed HM Treasury Women in Finance Charter and Race at Work Charter targets and support a wide range of employee network and events, championing issues including intergenerational working, social mobility and neurodiversity.