Internal Model Risk Manager
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)
Posted 3 weeks ago
Only considering candidates eligible to work in London + 2 more, UK ⚠️
We have an incredible opportunity to join us here at Phoenix Group as a Senior Internal Model Risk Manager to join our Internal Model Oversight team.
Job Type: Permanent
Location: This role could be based in our London, Edinburgh, or Wythall 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: 17/01/2025
Salary and benefits: £115,000+ 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
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.
The role
We are currently recruiting for a Senior Internal Model Risk Manager to join our Internal Model Oversight team. You will bring expertise in proxy models, simulation based aggregation techniques, and their applications to the validation of the Group’s Internal Model, including minor and major model changes.
You will work closely with other members of the Financial Risk team, Line 1 regulatory capital teams , and the wider business to enhance the Group’s Internal Model. You will play a leading role in complex, high profile projects involving the development of capital modelling methodology, performing independent validations and reporting on the outcome to senior management and Board committees.
What are we looking for?
- Qualified actuary with detailed knowledge of Solvency II and related Internal Model requirements.
- You are an expert in simulation based aggregation techniques, including generation of multivariate distributions using copulas, proxy model fitting and validation techniques, and applications in stress & scenario testing, ideally with experience of designing and implementing of aggregation models in Line 1.
- You are proactive and pragmatic, and are able to work autonomously and at pace to drive forward change.
- Excellent written and oral communication skills with ability to manage and influence stakeholders at senior level including Board members.
- Ideally you have experience in leading the planning and coordination of validation activity for major model change applications.
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
- Guide for Candidates: thephoenixgroup.pagetiger.com/guideforcandidates
Find or get answers from our colleagues: www.thephoenixgroup.com/careers/talk-to-us
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