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Senior Manager - Insurance & Wealth Finance

Employer
Lloyds Banking Group
Location
Edinburgh
Salary
£87504 - £109380 per annum
Closing date
8 Jul 2022

Job Details

This senior manager position within Insurance & Wealth Finance is responsible for how the Insurance business treats credit risk in capital calculations.

As a team we're responsible for the way Scottish Widows assesses and quantifies credit risk on its investments. This covers capital, asset valuation and credit ratings. Finance and the business look to us to provide trusted credit and actuarial input into a variety of strategic projects. The team brings together diverse perspectives from specialists across a range of fields. This gives us an outstanding opportunity to collaborate and learn from each other. It also provides scope to support and encourage individuals to grow and develop.

Strong communication skills enable us to present the proposals we develop and persuade others. Team members need the confidence to constructively debate with and influence key internal and external partners. This includes the risk function, regulators, auditors, investment managers and senior leaders.

What is involved?

You'll have responsibility for our capital calibrations for credit risk, ensuring they remain fit for purpose through ongoing validation and improvement. You'll lead on meeting the demands of evolving regulation such as the ongoing Solvency II review. You'll lead others in the team to develop capital calibrations for investment in new asset classes, balancing the need for bespoke calibrations to reflect the risks inherent in each asset class whilst maximising consistency of treatment across asset classes. By collaborating with other specialists within the team you'll ensure that our approach to credit capital fits coherently into our broader risk management and modelling framework.

We'll look to you to make sound, balanced judgements, focusing on what matters. This includes considering the requirements of regulation, trade-offs such as complexity vs accuracy, short/long term risks and resource prioritisation. You'll need to be able to turn strategy into concrete actions which are delivered to meet targets and satisfy a broad range of internal & external customers.

You will champion our capital calibrations through independent validation and internal governance. Where a change in calibration constitutes a "Major Model Change" you will lead engagement with the Prudential Regulation Authority to obtain regulatory approval for the change to our internal model.

In line with one of our core values of "keeping it simple" we have a strong culture of continuous improvement. Your critical thinking skills will help us to find opportunities and agile solutions for improvements to systems and processes.

What experience do you need?

Key requirements:

  • Qualified actuary

Desirable experience:

  • Strong statistical background, including experience of distribution fitting
  • Experience managing a range of senior stakeholders
  • Experience in managing and developing risk modelling methodologies
  • Experience working with credit assets typically held by insurers (loans and bonds)

We're an equal opportunity employer and deeply value diversity within our organisation.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.

Together we make it possible

Company

We’re creating an organisation that attracts, retains and develops the best talent in the industry, and one that openly embraces diversity too. But more than that – we want to be a great place to work. We invest in our people, offering the best training and coaching, and by encouraging them to contribute to our leading corporate and social responsibility practices. We offer flexible working hours and days, under our Work Options scheme. This means that you can have a challenging and rewarding career, and still have an ideal work/life balance.

Flexible working is at the heart of our strategy. We’re re-imagining where, when, and how our people work, with new approaches designed to meet the ever-changing needs of customers and colleagues. These include increasing our use of remote-working tools and technology, as well as placing less reliance on a 9-to-5 mindset. For many of our office-based colleagues, we work in hybrid ways which involves spending at least two days per week or 40% of their time at one of our office sites.

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