Senior Manager, Validation

**Principal Accountabilities**:

- Develop and maintain the approach for model validation, including ownership of the Validation Policy, ensuring Lloyd’s approach remains in line with market good practice.
- To present validation findings to the executive, Risk Committee and Board
- To use validation to draw strategic conclusions about captial adequacy and to challenge the business accordingly
- Deliver model validation in line with the Validation Policy using appropriate tools and working in conjunction with independent experts where required. To establish and maintain relationships with any third party firms to ensure the effective delivery ofvalidation with sufficient independence.
- Lead the co-ordination of validation activity, ensuring all stakeholders are kept well appraised of and engaged in the model validation process, including third parties such as external validators and the PRA. Monitor the delivery of external validationincluding against plan, budget and contractual obligations.
- Prepare internal model validation reports for each model component and for the LIM overall which enables key stakeholders (including the Risk Committee and Board) to understand potential issues and their materiality. Prepare and deliver presentations andother working papers as necessary setting out findings and conclusions of model validation.
- Prepare and maintain a log of validation findings and recommendations. Work in close collaboration with management to maintain and report on the status of validation issues.
- Build and maintain excellent relationships with all relevant Corporation departments and model component owners, including 'Heads of’ functions where appropriate. Most notably, building strong relationships with the Chief Finance Officer, Lloyd’s Actuary,Head of Risk Aggregation and Head of Treasury & Investment Management.
- Lead effective and, where necessary, robust challenge of senior stakeholders on issues related to capital adequacy and model appropriateness
- Lead and support strategic, thematic projects across the risk function and, in particular, focussed on financial risk and capital adequacy.
- Respond with agility to requests (i.e. adhoc projects) from the Chief Risk Officer or Head of Risk Management

**Skills Knowledge and Experience**:

- Demonstrable actuarial and technical risk management skills are essential to be able to define and shape industry leading risk management tools which are tailored to the unique Lloyd’s business model as well as satisfying regulatory requirements.
- Very high degree of stakeholder management and relationship skills to build relationships with a range of senior stakeholders and in particular with the PRA. This will include an ability to actively influence at Executive and Board levels with a confidenceto deliver the right risk outcomes at senior levels of the organisation.
- Cross functional working - the ability to effectively collaborate across teams, including with Compliance and Internal Audit to deliver integrated assurance
- Excellent analytical skills and be able to effectively communicate (in both written and verbal forms) and engage in debate on complex topics. Evidence of influencing outcomes with senior management in both formal (e.g. committee) and informal settings iscritical
- Time management skills - used to working to deadlines and under a certain amount of pressure. Ability to maintain effective personal workload plans that are achievable, prioritised appropriately and meet business objectives.
- Team working - should be used to working as part of a team, making effective contributions to team meetings and team initiatives and also be able to take ownership of tasks and projects whilst often working remotely and without supervision
- Challenge - ability to productively challenge technical experts across Lloyd’s and be robust/resilient under scrutiny
- Advanced relationship management and communication skills - the role will involve a large amount of engagement with stakeholders at various levels across the Corporation, including the production of analysis reports which must be clear, accurate and easilyaccessible to both technical experts and those with a more general understanding of risk management.
- Strong project management skills - to lead and deliver change within areas of responsibility (for example following changes in the regulatory environment)

**Knowledge**
- Expert knowledge of:

- Risk management (including Pillar 2 and the use test)
- Solvency II requirements (including internal model tests and standards)
- Capital modelling
- Integration of the internal model into the risk management system
- Good understanding of the P&C insurance industry
- Understanding and confidence in utilising leadership and management skills

**Experience**
- Qualified actuary with demonstrable track record of professional experience with excellent understanding of the actuarial concepts and techniques required to objectives challenge an internal model
- Experience in dealing with complex regulatory communication and negotiation
- Experience in managing senior stakeholders including challenging or unsupportive stakeholders
- Experience in managing challenging people management issues
- Experience of risk management frameworks, tools and processes