Risk Actuary

**JOB** DESCRIPTION**

**Position: Group Risk Actuary**

**Department: Risk**

**Reporting to: Robert Chanon**

**Position scope**:
The Group Risk Actuary is a key 2nd Line of Defense role, supporting 1st Line of defense in identifying, assessing and managing risk and responsible for executing a wide range of Solvency II qualitative and quantitative risk management efforts including climate change.

You will be responsible for executing a wide range of Solvency II qualitative and quantitative risk management efforts within UK and European operations and aspects of the Group ERM framework. Half of the focus of this role will be quantitative, the other half will have deep involvement in operational risk across Risk Oversight for other Group entities, workstreams, and Committees.

You will have gained a thorough understanding of risk and capital systems, particularly within the context of Solvency II and have significant direct exposure to key internal and external stakeholders. This role has been created following the acquisition of several insurance competitors, the Group having the ambition of becoming the largest insurer in its field, so offers tangible career potential, in a leading insurance company with very strong equity backing.

You will have a thorough understanding of risk (including operational risk) and capital systems, particularly within the context of Solvency II within the insurance sector.

The jobholder supports the investigation, analysis and assessment of risk, and the design and implementation of strategies and processes to mitigate threats to the successful delivery of the Company’s business plans and desired outcomes. The role provides oversight of and independent challenge to the risk assessments undertaken by the 1st Line of Defense.

**Risk Key Responsibilities**
- Continuously challenge and improve the analysis and reporting of all financial and non-financial risk at all levels.
- Support the production and maintenance of risk management policies required for continuous risk management for financial and non-financial risk management.
- Supporting the development of the financial non-financial risk appetite framework and contributing to the definition and documentation of the annual Risk Appetite Statement and risk tolerance limits for all non-financial risk
- Project management and delivery of Solvency II Compliance reports to the board
- Project management and delivery of Group Solvency II reports including RSR, SFCR (traning provided by the Chief Risk Officer).
- Oversee the delivery of regular risk assessments and preparation of all documentation related to risk assessment.
- Manage Risk projects as they arise e.g. implementation of process efficiencies and implementation of a Risk Tool.
- Regularly review control activities to identify gaps and propose pragmatic required enhancements.
- Ensure accurate, clear and concise reporting of appropriate risk management information.
- Support the production of reporting for the Risk & Audit Committee and internal committees and forums.
- Continuous monitoring and reporting of the overall risk profile of the Company and compliance with the limits of the RAF (Risk Appetite Framework).
- Attend and provide input as required to a number of internal committees and forums.
- Improve and embed ongoing validation processes across the Group, including keeping up to date with applicable regulatory requirements.

**PERSON SPECIFICATION**
- Qualified actuary or equivalent experience with strong quantitative and analytical skills, experienced preferably in capital and risk modelling. Consideration will be given to those with strong numerate qualifications and applicable technical experience.
- Good working understanding of the P&C (re-)insurance industry and associated risks
- Experience and technical skills in the planning and execution of actuarial and ERM work. Specifically with respect to Solvency II capital reporting / pricing/reserving requirements is an advantage.
- Pragmatic and focused on delivering value and an ability to deal with uncertainty.
- Methodical approach to problem solving, with a high attention to detail.
- Team player, in flat management structure, with excellent written and verbal communication and interpersonal skills.
- Experience in identifying and implementing process improvements and efficiencies.
- Strong attention to detail and focus on completion of activities.
- Diligent, self-driven and organised, with excellent time management skills.
- Results oriented, with the energy and determination to succeed in a fast-paced environment
- Advanced proficiency in using Microsoft Office. Experience with Power Bi would be an advantage.

**Desirable**
- Passed or student of IFoA’s Climate Change and Sustainability Seminars.

**Required Qualifications**:
**Essential**
- Partly qualified actuary having completed or full qualified actuary
- Passed ST9 or have an exemption

Pinnacle Pet UK is a Top 5 UK Pet insurer with a clear