p strong JOB DESCRIPTION /strong /p p strong POSITION: Senior Quantitative Risk Actuary /strong /p p strong LOCATION: London/ Hybrid /strong /p p br /p p The Senior Quantitative Risk Actuary is a key member of the 2nd line risk management function, responsible for delivering quantitative oversight across the validation, reserving, financial market and credit risk, and broader capital and risk assessment processes. /p p br /p p The role is central to maintaining strong regulatory compliance, supporting the ORSA, and ensuring robust model governance aligned to Solvency II and Lloyd’s standards. The position requires a qualified actuary with experience in model validation and reserve risk assessment, and the ability to provide effective independent challenge across Capital Modelling, Reserving, Finance, and Risk stakeholders. /p p br /p p The role encompasses a broad range of risk management activities and as Senior Quantitative Risk Actuary your duties will include: /p ul li Lead the end-to-end Internal Model validation process for S1084 and S1176, ensuring methodology, assumptions, governance and documentation meet Solvency II and Lloyd’s requirements /li li Produce the annual Validation Reports, articulating findings, limitations, and model improvements, and presenting these to risk and model governance Committees /li li Provide 2nd Line oversight of reserving processes, including review of assumptions, methodologies, uncertainty analyses, and reserve risk capital outputs /li li Perform independent reviews on key drivers such as inflation, claims emergence patterns, social/economic trends, and operational influences /li li Conduct independent assessment of market risk exposures, investment strategies, sensitivity analyses, and the appropriateness of methodologies used by 1st Line functions /li li Oversight of credit risk reviews covering reinsurance counterparties, broker credit, investment credit exposures, concentrations, and stress impacts /li li Provide quantitative challenge to capital charges, risk appetite metrics, and control effectiveness across market and credit risks /li li Develop, review, and challenge quantitative stress and scenario tests for the ORSA and independent validation, including macroeconomic, geopolitical, reserve related and market related stresses /li li Collaborate with Risk, Underwriting, Capital Modelling and Finance to ensure scenarios are severe but plausible, aligned to Lloyd’s expectations, and cover emerging risks /li li Produce ORSA inputs and analytical commentary to support forward looking capital and solvency assessments /li li Develop the 2nd Line model risk framework and review challenge 1st line testing of models /li li Support business plan and strategy assessments through quantitative analysis such as scenario testing. Considering emerging risks and risk profile changes /li li Support investigations into risk events, near misses, or unexpected model behaviours with quantitative analysis and challenge /li /ul p br /p p strong Their requirements /strong /p ul li Essential /li li Internal Model Validation experience within a Lloyd’s or Solvency II regulated insurer /li li Strong technical understanding of reserve risk, including methodologies, assumptions, inflation analysis, and uncertainty /li li Hands on experience reviewing and challenging capital model components (parameterisation, dependency structures, model change, model outputs) /li li Good understanding of insurance to enable effective engagement at all levels within the business /li li Good working knowledge of financial market risk and credit risk methodologies, including capital charges and stress/sensitivity analysis /li li Involvement in ORSA processes, including stress and scenario testing /li li Advanced analytical and critical thinking skills /li li Ability to communicate complex quantitative outputs clearly to senior stakeholders and governance committees /li /ul p /p
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