Job Description




Job Type: Fixed Term Contract (6 months)




Location: This role could be based in our London, Birmingham, Telford or Edinburgh offices with time spent working in the office and from home.




Flexible working: All roles are open to part-time, job-share and other types of flexibility. We will discuss what is important to you and balancing this with business requirements during the recruitment process. You can read more about flexible working here.




Salary and benefits: Up to £95,000 depending upon experience, plus an indicative bonus range of 16% to 32%, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.




Who are we?



We're Standard Life, a retirement specialist focused entirely on retirement savings and income. We champion the belief that everyone's journey to and through retirement can be better, and for more than 200 years, we've been helping our customers plan and prepare for their financial futures.



Life today is increasingly complicated, uncertain and unpredictable. People move through different careers, face unexpected moments and navigate important choices. We offer our colleagues flexibility, trust and benefits that work for whatever life brings. In return we expect curiosity, connection, accountability and high standards. We make room for what matters - so you can bring your best, every day.




The Role



In this role, you will support the Senior Actuary and Head of Credit Modelling in developing the Solvency II Internal Model approach for credit risk. You will work with teams across the business, including Asset Management, Risk and Finance, to identify, develop and implement methodology changes that enhance the capital efficiency of Standard Life's Internal Model.

• Ensure Standard Life's credit risk internal model remains compliant with the internal actuarial framework and Solvency regulatory requirements.


• Manage and oversee the annual credit model calibration and validation process, developing calibration proposals, securing governance approval and maintaining documentation to Solvency II standards.


• Promote and embed the use of the credit risk capital model across the business, supporting effective decision-making and risk management


• Collaborate with teams across the organisation to develop and implement capital methodologies for new asset classes and investment strategies, including significant model change initiatives.


• Develop and enhance the calibration and application of credit capital intensity factors for investment and pricing activities, while educating stakeholders and governance committees on key credit risk developments.


• Identify and deliver continuous improvement by identifying opportunities to enhance capital efficiency, responding to emerging regulatory requirements, and owning the roadmap for minor model changes and future methodology developments.

What are we looking for

• Qualified actuary with knowledge of credit risk capital models, experience with capital modelling and rating methodology for illiquid assets


• Strong knowledge of SII requirements and Internal Model methodologies


• Knowledge of insurance and investment risk, capital management and their application within a life insurance environment.


• Strong stakeholder management skills, with the ability to communicate complex concepts to a range of audiences.


• Ability to work collaboratively across teams to develop practical, commercially focused solutions.


• A proactive approach to problem solving, continuous improvement and delivering business outcomes.

Desirable

• Python, VBA experience

We want to hire the whole version of you.



We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we've advertised and you believe that you can bring value to the role, we'd love to hear from you.



If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.



We're reviewing applications as they come in, so apply early to avoid missing out.



Find out more about working at Standard Life

• Guide for Candidates: standardlifeplc.pagetiger.com/guideforcandidates


• Find or get answers from our colleagues: www.standardlifeplc.com/careers/talk-to-us

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