Actuary, Model Risk Management

Life Reinsurance | London | Recently Qualified to c.3 Years PQE

I'm working with a leading global life reinsurer looking to hire an Actuary into its Model Risk Management team, at a slightly more senior level than the Analyst position.

This role would suit a recently qualified actuary through to around 3 years PQE who wants to broaden their experience beyond a single actuarial specialism and take on greater ownership of independent model review, challenge and governance.

The team provides assurance to senior management and the Board around the robustness of key actuarial models, while working closely with model owners to strengthen model design, methodology, processes and controls. The role offers exposure across a broad range of actuarial models, including pricing, reporting, economic capital and R&D.

What will you be doing?

At this level, you would take greater ownership of reviews and be expected to provide more independent challenge across the modelling landscape.

Responsibilities are likely to include:

• Leading or taking significant ownership of independent reviews and validation of actuarial models
• Assessing model methodologies, assumptions, controls and overall model robustness
• Challenging modelling approaches and forming a clear independent view on whether methodologies are appropriate
• Reviewing significant model changes and identifying areas of material model risk
• Performing or overseeing independent baselining and validation work
• Working directly with model owners to agree findings, recommendations and remediation actions
• Monitoring progress against actions arising from previous reviews
• Reviewing model inventory and risk assessments
• Contributing to the ongoing development of model risk standards, governance and best practice
• Producing clear review reports and management information for senior stakeholders
• Supporting broader Model Risk Management initiatives across the business