Capital Actuary - London, United Kingdom - Phoenix Group

Phoenix Group

Verified Company

London, United Kingdom

1 week ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

Career Family, Level & Title:
Actuarial and Capital Management
Job Type: Permanent
Closing Date: 29th March 2024
Location and flexible working:London / Wythall office.

We recognise the benefits of flexible working and will discuss what is important to you and balancing this with business requirements during the recruitment process.

Flexible working:
All of our roles are open to part-time, job-share and other types of flexibility. We will discuss what is important to you and balancing this with business requirements during the recruitment process. You can read more about
Phoenix Flex here

Salary and benefits:
Up to £85,000 plus bonus up to 32%, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more
Who are we?
We want to be the best place that any of our 6,800 colleagues have ever worked.

We're the UK's largest long-term savings and retirement business.

We offer our 12 million customers products across our market-leading brands, including Standard Life, SunLife and ReAssure, with c.£259 billion of assets under administration.

We're a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we're not done yet.

Phoenix Group is a well-established acquirer of both closed and in force businesses. Whilst continuing to grow our M&A platform, we are also building a thriving and growing Open Business.

Retirement Solutions has been identified as a key component of the Open Business and is seen as the primary driver of the Group's growth in the new future.

Within Retirement Solutions, Mortgage Solutions is a key driver of competitiveness and profitability. Continuous innovation keeps us abreast of our competitors.

In order to support this growth and innovation, the team is seeking to increase its structuring capabilities.

As a result, we have a phenomenal opportunity for a Capital Actuary to join us at an exciting time, as we shape our proposition and the way we work to support our growth ambitions.

**Key Responsibilities
The primary focus of this role will be to support Structuring and Actuarial workstreams for Mortgage Solutions business.

This will include, but is not limited to the following:

To support/lead work on development of internal model methodology for Mortgages in PLL's balance sheet
ERMs and other mortgage assets
Working with Internal Model Change team, Finance and Reporting centres to successfully deliver the implementation of Major Model Change (MMC) for ERMs and other types of Mortgages
To monitor relevant emerging regulations and developments within the industry and to report to the business on the implications of developments as they emerge.
To support the development of robust processes, documentation and control around actuarial frameworks for Mortgage investments in support of the capital management strategy for the Life companies and Group for example, best estimate assumptions, internal model methodology for Mortgage investments of PLL
To support the development of robust risk analytics to monitor the risk dynamics of Mortgages on PLL's balance sheet
To ensure compliance with all Group Risk Management frameworks when supporting/leading the revision/development of internal model methodologies, and proposals for assumption changes and structuring changes for Mortgages on PLL's balance sheet
Responsible for enhancing the models used for structuring and for development of new propositions.
To educate the business, and appropriate governance committees on ERM and structured investment Solvency II requirements be seen as the the Actuarial SME for Mortgages in Phoenix
To lead small projects and minor methodology developments within the Credit Modelling team. To support capital optimisation programmes for Mortgages, including projects which deliver management actions for PLL and Group

What We're Looking For
**Essential

Very quantitative as demonstrated through education, qualifications and/or experience, with excellent modelling skills and an interest in gaining technical experience within a growing mortgage business.
Experience in supporting development of major model change projects for assets for other insurers/reinsurers
Comfortable working in crossfunctional project teams with diverse thoughts and views, and has good organisational skills to bring it all together
Excellent interpersonal and communication skills.
Ability to work on a project basis
Willingness to take ownership of projects/processes over time
Able to deliver under tight deadlines Team player

Desirable

Fluency with quantitative toolkits/systems: and programming languages including Matlab, VBA and SQL.
Prior experience within a bank, insurer or consultant of pension / life insurance risk management
An understanding of actuarial and pricing concepts.
Familiarity with E