Senior Actuary Internal Model

In this role you help manage and develop risk-based capital models to support Solvency II/UK, IFRS and US GAAP balance sheets and risk appetite. You will maintain a fully documented Internal Model, lead first-line validation, and collaborate across Investments, ALM and Pricing to drive robust, capital-efficient outcomes. The position sits in the Internal Model team under the Head of Internal Model and Director of Capital Management, contributing to the group’s capital position and regulatory compliance. You will also coach junior team members and shape model-related initiatives that enable organic capital generation.

• competitive salary
• pension scheme
• life assurance
• 25 days annual leave + birthday day
• private medical cover and income protection
• performance bonus

• Support head of Internal Model and director of Capital Management to manage and measure the Group’s capital position
• Develop and maintain the Internal Model using new technologies to support Solvency II/UK, IFRS and US GAAP balance sheets and ORSA
• Ensure ongoing maintenance of a fully-documented Internal Model compliant with Solvency II standards
• Lead first-line Internal Model validation activities and drive actions from validation findings
• Develop methodology for capital impact assessments for Group projects (new asset classes/products)
• Promote Internal Model usage across Investments, ALM and Pricing
• Collaborate with stakeholders to develop efficient BAU processes and robust reporting
• Coach and manage junior team members
• Drive model improvements and tool/process transformations
• Assess capital implications of Group projects and support capital-efficient project delivery
• Prepare analysis for Internal Model Technical Forum (IMTF) papers and support CRO reporting
• Contribute to recalibration of Internal Model risks and annual proxy structure review
• Contribute to PRA responses and ad hoc data requests

• Solvency II/UK experience applied to UK life insurers
• Statistical and stochastic modelling experience
• Programming experience (Python, VBA, R)
• Strong technical, analytical and problem-solving abilities
• Excellent verbal, written communication and interpersonal skills
• Understanding of life insurer balance sheets and capital requirements
• Experience delivering practical solutions to complex technical issues
• Project management ability for defined initiatives
• Qualified Actuary (FIA/FFA or equivalent)

• Strong communication
• Collaborative mindset
• Problem analysis and resolution
• Solvency II / UK regulatory framework
• Internal model methodologies
• Capital management and ORSA