Model Risk Analyst - Reinsurance

Model Risk Analyst

London - hybrid working

About the Role:

Oliver James are proud to be collaborating with a global reinsurer, who seeks to appoint an Actuarial Model Risk Analyst to join their Model Risk Management (MRM) team. In this role, you will perform reviews and validations of key actuarial models used across the organisation, providing assurance to senior management regarding the robustness and reliability of these models. You will collaborate with model owners to enhance model design, processes, and controls while gaining exposure to cutting-edge models across a range of platforms and functions, including pricing, reporting, and research & development.

Key Responsibilities:

• Model Risk Reviews:

  • Independently review actuarial models to ensure they meet MRM framework standards.
  • Conduct independent baselining and assess compliance with risk management guidelines.
  • Perform ad hoc reviews for major model changes.
  • Monitor remediation actions to ensure completion within agreed timelines.

• Reporting and Risk Assessment:

  • Assist in preparing management information reports summarising model review outcomes.
  • Conduct reviews and assessments of the model inventory's risk profile.

• Support for Risk Management Initiatives:

  • Contribute to MRM-related initiatives, such as promoting best practices in spreadsheet usage and enhancing guidance for the modeling community.

About You:
We are looking for a motivated individual with a strong background in actuarial science and a keen interest in model governance and risk management. You should:

• Be a nearly qualified actuary
• Have excellent analytical and technical skills, with experience in actuarial models and modeling software.
• Have a solid understanding of the life insurance industry, including products, regulations, and risk considerations.
• Have knowledge of risk and control frameworks, with the ability to identify and address areas for improvement.

Why Join?
This role provides an exciting opportunity to work with advanced actuarial models and contribute to the organisation's strategic decision-making. You will collaborate with a talented and supportive team, gaining exposure to various business areas while driving improvements in model governance.