Head of Credit Modelling

Phoenix

  • Location:
    Wythall
  • Salary:
    Up to £125,000

Job Description

Based Wythall, South Birmingham (B47)
Up to £125,000 + Bonus & Benefits
Permanent position
Ref: 4024

About the role
The Phoenix Group is a FTSE 100 insurer with ambitious growth plans in the bulk purchase annuity space. Sourcing and deploying a broad range of credit assets from both corporate credit and private debt markets is core to our strategy. This role will be a senior leader within our Actuarial function with accountability for the modelling of these assets and for ensuring appropriate challenge and risk assessments are made on behalf on the life companies.

Reporting into the Head of Capital Management, this role can be based in our Wythall, Edinburgh or London offices and would have 4 direct reports.

The person in this role would establish a new team and operating framework with the asset management team and would be expected to operate with a high degree of autonomy on behalf of the Head of Capital Management and Chief Actuaries.

Key Responsibilities:
Design, develop and maintain financial models for corporate credit and private credit in both base and stress conditions
To ensure that modelling of credit assets remains compliant with Solvency II regulation for Internal Models and Matching Adjustment portfolios and keeps pace with emerging best practise
Oversee the onboarding of new asset classes and investments from an Actuarial perspective ensuring that appropriate risk categorisation takes place and risks are appropriately assessed
Provide challenge and oversight of investment strategy proposals from the Asset Manager to ensure that implications for the insurance balance sheet and regulatory approvals are well understood and managed
Member of the Internal Credit Rating Committee providing insight and challenge for internally rated assets
Own the management, Board committee and Regulatory engagement with regards to the modelling of credit assets
Build and lead the credit modelling team

Essential
Qualified Actuary
Demonstrable experience in the credit markets gained through a bank, asset / fund manager, credit rating agency or comparable role within an insurance group
Knowledge and experience of Solvency II regulations and the drivers of the solvency balance sheet and P&L
An in depth understanding of investment risk, capital management and capital modelling.
Ability to provide robust challenge and to influence a broad range of senior stakeholders
Track record of delivery and working collaboratively with others.

Desirable
Experience in engaging with external governance bodies and regulators
Knowledge and experience of credit rating methodologies.

About us
Join the Phoenix Group, and you join a unique organisation. It’s not just the 10 million policyholders we serve, or the £240 billion of assets we look after. Or that we’ve been listed as one of the UK's Top Employers for seven years running. It’s the fact we manage predominantly closed life funds in our Heritage business. This means we can focus our innovative thinking and energy into improving outcomes for our existing customers and their customer experience. 

But that’s not all. We also have an Open business which manufactures and underwrites new products and policies to support people saving for their future in areas such as workplace pensions and SIPPs. We also market corporate pension trustee services and manufacture products to be sold under other brands. 

Did you know Phoenix Life manufactures SunLife’s market leading Guaranteed Over 50’s plan? Having acquired Standard Life Assurance Limited in 2018, Phoenix is now the largest consolidator of heritage life insurance funds in Europe with a vision to be Europe's Leading Life Consolidator.

N.B. When on the Phoenix Careers site, first time visitors will be asked to register before applying.
Closing date: Midnight, Monday 30th November 2020.

REASONABLE ADJUSTMENT:
If you have a disability we will try our best to make reasonable adjustments to remove any barriers to this post in the application / interview process due to a disability.