Credit Modelling Actuary

Phoenix Group

Flexible working is a core part of our employee offering and it's advertised as standard on all our job adverts, including being open to part-time (e.g. 4 day week @ 80% salary)

Only considering candidates eligible to work in London + 2 more, UK ⚠️

Job Type:  Permanent

Location: This role could be based in our London, Wythall or Edinburgh offices with time spent working in the office and at home.

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.

Closing Date: 8th December 2024

Salary and benefits: Up to 95k plus 16% 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

Recruiter: Tim Singh

Who are we?

We want to be the best place that any of our 6,600 colleagues have ever worked.

We’re the UK’s largest long-term savings and retirement business. We offer a range of products across our market-leading brands, Standard Life, SunLife, Phoenix Life and ReAssure. Around 1 in 5 people in the UK has a pension with us. 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.

We have an incredible opportunity to join Phoenix Group as a Credit Modelling Actuary in the Credit risk capital modelling team

The role

This is an excellent opportunity for a qualified actuary to develop their career and gain specialist knowledge in credit risk modelling and insurance investing. You will be working with a team of highly experienced actuaries to develop the Solvency II Internal Model approach to Credit risk. You will be responsible for developing industry leading modelling capability, collaborating with asset management team to support the onboarding of new assets and embedding credit risk model into wider business.

Key responsibilities:

  • Lead methodology development for Major Model Changes to optimise Phoenix’s credit risk internal model.
  • Support operationalisation of Major Model Change into BAU and establish BAU modelling processes;
  • Collaborating with Credit Rating Research Team to develop rating and stressing methodology for illiquid assets;
  • Lead the development of reinsurance counterparty credit risk methodologies.
  • Provide coaching and support for analysts in the team.
  • To support appropriate working practises, to support an effective multi-site team.
  • To maintain regulatory, technical, business and professional knowledge including Solvency II regulations and professional actuarial standards, in an environment of fast moving regulatory change.

What are we looking for?

  • A qualified Actuary with up to 5 years of post-qualification experience in the industry
  • Knowledge of credit risk capital model and experience with capital modelling and rating methodology for illiquid assets.
  • Detailed knowledge of SII requirements and Internal Model methodologies
  • A good understanding of insurance and investment risk, capital management and capital modelling
  • Up to date knowledge of latest industry techniques and practices for internal models
  • Excellent communication skills with great stakeholder management experience

We want to hire the whole version of you.

We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you.

 If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.

Find out more about #LifeAtPhoenix

Phoenix Groupthephoenixgroup.com

The UK's largest long-term savings and retirement business.

Working Week

Flexible working is a core part of our employee offering and it's advertised as standard on all our job adverts, including being open to part-time (e.g. 4 day week @ 80% salary)

  • Mon
  • Tue
  • Wed
  • Thu
  • 🏖️
    Fri

Our Vacation Policy

We offer 38 days annual leave including bank holidays, with the option to buy 5 additional days.

  • 38 days PTO
  • 52 unpaid Fridays
  • 90 days off per year

Remote Working Policy

We offer hybrid work with options to work from various UK offices.

Company Benefits

  • Health insurance
  • 401(k) company contribution
  • Transparent Salaries
  • Generous parental leave
  • Dentalcare
  • Equipment allowance
  • Life & Disability Insurance
  • Professional Development Budget
  • Mental Health Support

Desirable Skills and Experience

  • Stakeholder management
  • Insurance investing
  • Capital management
  • Communication skills
  • Credit risk modelling

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