Partial Internal Model Actuary

1 month ago

Birmingham, United Kingdom The Actuary Group Full time

The Actuary Group is currently seeking an experienced Partial Internal Model Actuary on behalf of our client, a longstanding provider of UK insurance and savings solutions.


Our client strives to make the life and pensions journey easier and more user-friendly for everyone involved. They use their specialist knowledge and trusted financial experience to deliver the smartest possible outcomes. Their proven experience and expertise give them the confidence to make trusted decisions, challenge convention and innovate to make a positive difference.


Our client is looking to integrate a talented technical actuary with extensive experience leading on the development, validation and maintenance of partial internal models under Solvency II regulations. The ideal candidate will have strong communication and stakeholder management skills, in-depth knowledge of risk management analysis, and a financial services background (Life Industry or Pensions Funds).


If the above applies to you and you are open to a new professional challenge within a reputable life and pensions company, we would love to hear from you.


Key responsibilities will include:

  • Play a lead role in the development, validation and maintenance of their partial internal model under Solvency II.
  • Design, develop, and enhance partial internal models that adhere to their risk tolerances and are scalable for future growth.
  • Conduct rigorous validation and testing of models to ensure accuracy and compliance with regulatory standards.
  • Analyse large datasets to identify trends, patterns, and insights that inform model assumptions and parameters.
  • Ensure all models comply with Solvency II requirements and other relevant regulatory frameworks.
  • Prepare comprehensive documentation for model development, assumptions, methodologies, and validation processes.
  • Collaborate with internal stakeholders, including risk management, finance, and underwriting teams, to gather requirements and provide insights.
  • Generate regular reports and presentations for senior management.
  • Stay updated with industry trends, best practices, and regulatory changes to continuously improve the internal model.
  • Maintain competence and fitness and propriety standards to the level required by the Company’s regulators.
  • Comply with the FCA’s conduct (and senior conduct) and Consumer Duty rules and the PRA’s conduct.


Experience and Qualifications

  • Qualified Actuary, with a minimum of 5 years’ experience in actuarial roles, with a focus on model development and validation.
  • Financial Services (Life industry or Pensions Fund) experience.
  • Experience of the regulatory environment in the UK.

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