Credit Modelling Actuary

Phoenix Group

. Support the Senior Actuary and Head of Credit Modelling in developing the Solvency II Internal Model approach for credit risk .

Posted 10/12/2026full-timeLondon • United KingdomMid-LevelSenior💰 £95,000 per yearWebsite

Core Competencies

Role fit

Core Competencies

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Demonstrates expertise in developing and implementing Solvency II Internal Model methodologies for credit risk, ensuring compliance with regulatory standards while enhancing capital efficiency. Strong ability to communicate complex concepts and collaborate across teams to drive continuous improvement and effective risk management.

Highest-signal resume keywords

Qualified ActuaryCredit Risk Capital ModelsSolvency II RequirementsCapital ModellingStakeholder Management

ATS Keywords

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Applicant Tracking System Keywords

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Hard Skills

Capital ModellingCredit Risk Capital ModelsSolvency II ComplianceModel CalibrationMethodology Development

Soft Skills

Stakeholder ManagementProblem SolvingCollaborationCommunication

Tools & Technologies

PythonVBA

Certifications & Qualifications

Qualified Actuary

Industry Keywords

Internal Model MethodologiesInsurance RiskInvestment RiskCapital ManagementLife Insurance

Tech Stack

Tools & technologies

PythonVBA

About the role

Key responsibilities & impact

Support the Senior Actuary and Head of Credit Modelling in developing the Solvency II Internal Model approach for credit risk
Work with Asset Management, Risk and Finance teams to identify, develop and implement methodology changes enhancing Internal Model capital efficiency
Ensure the credit risk internal model remains compliant with the internal actuarial framework and Solvency regulatory requirements
Manage and oversee the annual credit model calibration and validation process
Develop calibration proposals, secure governance approval and maintain documentation to Solvency II standards
Promote and embed use of the credit risk capital model across the business
Support effective decision-making and risk management
Develop and implement capital methodologies for new asset classes and investment strategies, including significant model change initiatives
Develop and enhance calibration and application of credit capital intensity factors for investment and pricing activities
Educate stakeholders and governance committees on key credit risk developments
Identify and deliver continuous improvements, respond to emerging regulatory requirements, and own the roadmap for minor model changes and future methodology developments

Requirements

What you’ll need

Qualified actuary
Knowledge of credit risk capital models
Experience with capital modelling and rating methodology for illiquid assets
Strong knowledge of Solvency II requirements and Internal Model methodologies
Knowledge of insurance and investment risk, capital management and their application within a life insurance environment
Strong stakeholder management skills
Ability to communicate complex concepts to a range of audiences
Ability to work collaboratively across teams to develop practical, commercially focused solutions
Proactive approach to problem solving, continuous improvement and delivering business outcomes
Python and VBA experience desirable

Benefits

Comp & perks

Indicative bonus range of 16% to 32%
Private medical cover
38 days annual leave
Excellent pension
12x salary life assurance
Career breaks
Income protection
3x volunteering days
Flexible working arrangements, including part-time and job-share options