Investment Risk Actuary

  • Location

    Birmingham

  • Sector:

    Financial Services, Insurance

  • Salary:

    Up to £110,000 + bonus and benefits

  • Published:

    about 1 month ago

  • Expiry date:

    2020-10-25

  • Client:

    #

The role:

12 month Fixed Term Contract

The Investment Risk team help to drive our investment strategy by ensuring policyholder and shareholder risks are hedged within appropriate timescales.  As part of the team you will help to take ownership of hedging policies for interest rate, inflation and equity risk and ensure funds are managed to an appropriate risk appetite.

As an Investment Risk Actuary you will enjoy a broad role, using your skills and knowledge to provide support to the Head of Investment Risk in all aspects of Life Company ALM activity.

 

This key role will involve activities such as:

• management of investment risks (including nominal rates, real rates, equities and credit) to pre-specified targets and tolerances;
• producing hedging instructions and working with our strategic asset management partners to ensure our ALM execution is carried out in a cost-effective manner in line with our expectations and requirements;
• supporting the investment strategists with the relevant asset and liability analysis / modelling to facilitate investment in new asset classes; and
• developing and maintaining ALM models to facilitate management of our investment risks and ensure the team have the capability to apply market and credit stresses to our investments and derivatives.
You will work closely with the Actuarial teams in Life Finance and Capital Management to ensure all material aspects of our ALM practices are reflected in the models, and you will also support Group-led initiatives such as mergers & acquisitions through the preparation of efficient hedging strategies. 

It's a dynamic and exciting role where you'll be ensuring we manage and mitigate market risks in accordance with Phoenix Group risk appetites, and in line with our With Profits funds' PPFM rules.

 

What we're looking for:

You will be a qualified actuary from a related Financial Services background, ideally with some ALM experience in a Life office financial reporting or investment management setting.  You will be able to demonstrate your understanding of asset and liability modelling in a UK Life assurance company context, with a good understanding of Solvency II and the implications of this regime on investment risk management.

Familiarity with the risk characteristics of different asset and liability classes, a sound understanding of hedging instruments and approaches, and fluency with quantitative toolkits and systems such as VBA, Matlab and Bloomberg, will all be beneficial in this role.
Just as important as your technical understanding, though, will be your passion to respond to challenges and use your initiative to deliver objectives and lead key initiatives within the team.  We love working with strong communicators who can quickly use their interpersonal skills to build great working relationships and achieve excellent results.

 

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

 

Flexible working:

Flexible working at Phoenix is: "A lifestyle that fuses your personal and professional life." We believe in a culture of flexibility, depending on the role we may be able to offer working arrangements that suit your needs. In today's world of work/life challenges we recognise getting this right is important to our employees and the success of our business.

Examples of this may include but are not exclusive to the following:

  • Part-time: You would work less than full-time hours for the business, perhaps by working fewer days or hours per week.

  • Flexible hours: Still working your contracted hours, you would have flexibility to start and finish within agreed core working times.

  • Job share: Where the role allows you would voluntarily share the duties of one full-time position with another colleague, splitting the hours on a pro-rata basis.

  • Home working: You would undertake some, or all, of your working duties from home or anywhere else other than the standard allocated place of work (including other Phoenix locations).