Validation Risk Actuary

Arthur are working exclusively with a leading global re/ insurer to hire a validation actuary.  

The incumbent will work in collaboration with the Actuarial management lead in Risk, supporting in the areas of model validation and regulatory capital while also contributing to the wider development and maintenance of a robust risk management framework of the group.

Key Accountabilities

• Design and implementation of the overall Validation Framework including relevant policies in liaison with senior management and other stakeholders.
• Developing the 3-year model validation plan and agreeing the plan with the Actuarial Manager - Risk Management in a timely manner for the annual Board and Committee approvals.
• Independent Validation -Designing a robust suite of validation test(s) with an associated set of appropriate and falsifiable
• Lead the annual validation project including internal stakeholder liaison and data requests
• Represents Risk Management at the Internal Model Expert Group and provide 2nd line governance over the design and operation of the model(s)
• Model Change Management - Design and implementation of the overall Model Change Framework including relevant policies in liaison with senior management and other stakeholders.
• Exposure assessment through utilising models (capital and other statistical models)
• Risk appetite and tolerance exposure through utilisation of applicable models
• Standard Formula Capital Setting:  Assist in the calculation of capital requirements through various regulatory standard formula templates and rating agency models
• Provide input to the ORSA Report sections related to capital and risk assessment.
• Responsible for training junior team members -Appropriate delegation of risk activities as applicable.

Requirements

• 3+ years of experience in non-life actuarial/risk environment
• Preferable a Qualified actuary -Excellent other mathematical backgrounds considered.
• Excellent validation and capital modelling experience.
• Previous experience of Solvency II including Pillar 1, 2 and 3 requirements.
• Experience of providing risk and actuarial advice to senior management.
• Advanced understanding of capital modelling and model validation.
• Deep understanding of the insurance and reinsurance, regulatory considerations, and key stakeholders.
• Advanced knowledge of actuarial and statistical tests and techniques, with the ability to apply to model validation and other risk modelling tasks.