A key role that contributes to the CRO’s Opinion of the ongoing appropriateness of the Internal Model.
* Location: London
* Category: Life Actuarial
* Type: Permanent
Key Duties (including but not limited to):
1. Challenge business (first line) teams on proposed model & methodology changes.
2. Perform Independent Validation reviews of Internal Model components including market, credit, & life insurance risk models.
3. Confirm factual accuracy of findings with stakeholders and summarise points into Executive-level reports. Obtain explicit management responses and agreement of remedial actions. Monitor progress on addressing findings raised, escalating where necessary, and challenge the evidence of remediation before closing findings.
4. Support the maintenance of a rolling schedule of review activity to provide appropriate coverage of Solvency II requirements.
5. Maintain effective records of review evidence and Risk Opinions.
6. Ensure work performed is in line with the CLG Internal Model Governance Policy and Solvency II requirements.
Minimum Requirements:
* Qualified Actuary or Equivalent.
* Experience in the life insurance industry.
* Strong technical knowledge and an understanding of Solvency II capital requirement calibrations, and a good understanding of Solvency II as a whole.
* Knowledge of Internal Model capital calibrations.
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