As a senior Life Model Risk expert within Group Risk Management, you will work closely with global Life teams, carrying out 2nd line reviews of model risk and independent model validations, and providing risk-based insights to senior stakeholders.
What you will do
1. Deliver independent validations of Life models including specifying, implementing, and executing validation tests, identifying, quantifying, and assessing weaknesses and limitations of models, and producing validation reports and documentation.
2. Lead and deliver independent top-down analysis and assessment of model risks (including specific targeted deep dive analyses) including review of methodology and approaches, and produce reports and documentation.
3. Oversee development and implementation of Model Risk Governance relating to Life Insurance.
4. Support the development of the cash flow modeling framework used in Life model validation.
5. Support Risk engagement in Life decision processes, e.g., product approval or assumption review, providing independent challenge as part of decision making.
6. Present to senior management on model governance and validation outcomes, and advise on risk insights and implications for the business.
7. Mentor and develop other actuarial professionals within the department.
What you bring
As a Senior Model Risk Actuary your skills and qualifications will ideally include:
8. University degree in Finance, Mathematics, Actuarial Science, or comparable field.
9. Qualified Life actuary with eight or more years of relevant experience in the Life Insurance industry
10. Experience in at least one and ideally more of the following areas: reserving, pricing, solvency, assumption setting, and/or capital modelling
11. Excellent communication, influencing and negotiation skills
12. Experience in model development projects, either as developer or product owner
13. Excellent written and verbal communication skills in English, with the ability to write clear validation reports.