Model Risk Manager Professional

2 days ago


Cardiff, Cardiff, United Kingdom Admiral Group Plc Full time
Job Description:

The Actuarial and Financial Risk Team at Admiral Group is seeking a highly skilled Model Risk Manager to join their ranks. This exciting opportunity involves supporting the Head of Validation in independently validating Admiral's partial internal model across multiple entities.

The ideal candidate will have a strong background in actuarial science or data science, with experience in capital modelling. A detailed knowledge of Solvency II/UK and regulatory rulebook is also essential.

Main Duties:

  • Support the business in identifying, measuring, monitoring, managing, and reporting financial and model risks across the group.
  • Assist in the validation activities of the partial internal model, including validation report writing, collating results, and presenting to the Model Governance Committee and other forums.
  • Develop and implement model risk policy and framework in line with regulatory practices.
  • Deliver against the plan of activities, maintaining and developing the Solvency II/UK validation, model risk, and regulatory compliance frameworks, policies, and standards.
  • Work collaboratively with colleagues and take personal accountability to maintain and enhance controls to support the improvement of the overall control environment, customer outcomes, and a reduction in Admiral's risk.
  • Train team members on model risk management.
  • Engage with various departments, including finance, actuarial, pricing, and reserving teams, to review and challenge models.
  • Contribute to the proactive management of model risks across the business, including the modelling of emerging risks.
  • Share knowledge and best practices with the wider team to enhance overall team performance.

Key Skills and Qualifications:

  • Qualified or nearly qualified actuary or data scientist with experience in capital modelling.
  • Detailed knowledge of Solvency II/UK and regulatory rulebook.
  • Excellent communication skills, both written and interpersonal, to liaise with people at different levels within Admiral.
  • Ability to work independently and proactively, as well as supporting a team.
  • Attention to detail, with an analytical and problem-solving mindset.
  • Good working knowledge of Microsoft Office applications (e.g., Word, Excel, PowerPoint).
  • Actuarial experience across multiple areas (reserving, pricing, or risk) would be beneficial but isn't essential.
  • Any experience using AI tools or proficiency in programming languages such as Python or R would be useful but isn't necessary.

Salary: £70,000 - £90,000 per annum, depending on experience.

Benefits:

  • 33 days holiday (including bank holidays), increasing with length of service.
  • Flexible hours and remote working options.
  • Professional development opportunities.
  • A diverse and inclusive workplace.


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