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About the role
Key responsibilities & impact- Advise on the identification, assessment and management of proposition, product, insurance and connected financial risks
- Lead second line oversight and challenge of new product developments, material product changes, pricing and repricing proposals, product lifecycle reviews and proposition governance papers
- Oversee insurance risks including longevity, persistency, expense and underwriting or margin pricing risks
- Advise on ALM and product-related financial risk matters, including product design, liability profile, investment strategy, hedging, reinsurance, matching adjustment, smoothing, guarantees and with-profits or shareholder risk sharing
- Lead or support thematic reviews, deep dives and assurance activity across product and insurance risk topics
- Engage with first line, actuarial, finance, investment, legal, compliance and risk colleagues
- Advise on policy, framework, limit and governance developments and interpret relevant regulatory change and industry practice
- Review proposition, product development, repricing, feature change and lifecycle governance materials
- Challenge investment strategy, strategic asset allocation, hedging and risk mitigation proposals
- Support oversight of reinsurance, risk sharing and de-risking arrangements
- Monitor market, economic, regulatory and business developments and assess their impact
- Contribute to reporting, committee papers and second line opinions
- Promote a strong risk culture through communication, constructive challenge, coaching and practical support
Requirements
What you’ll need- Relevant professional qualification or equivalent experience, for example actuarial, risk, investment or related qualification
- Significant experience in a life insurance, pensions, actuarial, product, financial risk, proposition risk, investment risk or related second line risk role
- Experience reviewing product developments, proposition changes, repricing proposals, product lifecycle reviews, risk sharing structures, reinsurance arrangements or investment and ALM proposals
- Experience analysing complex technical, regulatory or commercial issues and converting them into clear, practical recommendations for senior management or governance committees
- Experience engaging with actuarial, finance, investment, product, legal, compliance and operational teams
- Experience interpreting risk appetite, limits, policies, management information, stress results and business plan impacts
- Experience preparing concise, evidence based written reviews, risk opinions, committee comments or assurance outputs
- Experience of actuarial modelling, capital, reserving, product pricing, ALM or investment risk
- Expert or strong detailed technical knowledge of UK life insurance, pensions, savings and retirement products
- Detailed knowledge of the UK financial services regulatory environment
- Detailed working knowledge of Solvency UK
- Strong knowledge of insurance and market risks, including pricing, reserving, modelling, assumptions, stress and scenario testing, longevity, mortality, morbidity, persistency, expense, interest rate, credit and liquidity risk interactions
- Working or detailed knowledge of strategic asset allocation, hedging techniques, ALM principles, reinsurance structures, collateral management and risk appetite or limit frameworks
- Strong analytical, communication and written skills
- Ability to influence and challenge senior stakeholders constructively
- Ability to operate independently as a subject matter expert
Benefits
Comp & perks- A valuable pension scheme of up to 18% (13% made up of employer contributions and 5% employee contributions)
- Access to Share Save and Share Incentive Plan
- Financial wellbeing and support services
- 38 days annual leave including bank holidays
- Opportunity to purchase up to five extra days
- Time Off When You Need It policy
- Paid parental leave covering maternity, adoption, surrogacy, and paternity leave
- Private Healthcare
- Critical Illness cover
- Life Assurance
- Additional family options for health and protection cover
- Networking, support and development opportunities through employee-led networks
- Reasonable adjustments during the recruitment process