Overview
In this role you will contribute to the ongoing development of PIC’s Internal Model and capital framework, with a focus on credit risk. You will work within the Finance Department’s Capital team to ensure models, methodologies, and risk analyses remain robust and aligned with the business strategy and PRA requirements. You will translate complex quantitative work into clear insights for stakeholders and support strategic decisions. This is a collaborative, technically challenging role at a leading pension insurer offering meaningful impact on PIC’s capital adequacy and risk management. You will shape and influence the evolution of risk models and capital tools that underpin PIC’s mission to支
Pay / Benefits
- competitive base salary
- annual performance-related bonus
- private medical insurance
- 28 days’ annual leave
- generous pension scheme
- much more
Responsibilities
- Own and maintain Credit Risk and other Internal Model modules to ensure robustness and regulatory alignment
- Enhance and optimise the PIC regulatory capital strategy with emphasis on market risk
- Contribute to technical development of the Internal Model using quantitative techniques
- Develop and maintain the proxy model outside the Internal Model to ensure suitability
- Deliver management information on model design, assumptions and performance
- Execute ad-hoc quantitative analyses and investigations
- Support other Internal Model users and assist team members to meet objectives
Key requirements
- Experience in a life office or consultancy
- Experience developing capital models and processes
- Knowledge of quantitative techniques for financial risk modelling
- Strong knowledge of UK life insurance environment and Solvency II
- Understanding of credit risk modelling and stress testing concepts
- Proficiency with Python, R or MATLAB (coding skills)
- Excellent communication and stakeholder management
- Desirable: Fellow of the Institute and Faculty of Actuaries or FRM; experience with proxy modelling; line management experience
- strong knowledge of ERM modelling
- Planning and stakeholder management
- Ability to explain technical concepts to non-technical audiences
- Collaborative working style
- Proxy modelling
- Distribution fitting
- Credit risk modelling
…