Job Type: Permanent
Location: This role can be based from our London, Birmingham or Edinburgh offices with time spent working in the office and from home.
Flexible working: All roles are open to part-time, job-share and other types of flexibility. We will discuss what is important to you and balancing this with business requirements during the recruitment process. You can read more about flexible working here.
Salary and benefits: £110,000 to £127,000 dependent upon experience, plus an indicative bonus range of 30% to 60%, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.
Closing date: 31st July 23:59
Who are we?
We’re Standard Life, a retirement specialist focused entirely on retirement savings and income. We champion the belief that everyone’s journey to and through retirement can be better, and for more than 200 years, we’ve been helping our customers plan and prepare for their financial futures.
Life today is increasingly complicated, uncertain and unpredictable. People move through different careers, face unexpected moments and navigate important choices. We offer our colleagues flexibility, trust and benefits that work for whatever life brings. In return we expect curiosity, connection, accountability and high standards. We make room for what matters - so you can bring your best, every day.
We are looking for an experienced financial risk professional with strong technical expertise and the confidence to apply that expertise to complex, strategic balance sheet issues. The successful candidate will be able to operate comfortably across both the detail and the bigger picture, understanding the technical drivers of solvency, liquidity, ALM and balance sheet performance, while also drawing out the key risks, trade-offs and strategic implications for senior stakeholders. They will bring clear judgement, constructive challenge and a commercial mindset, helping the business make well-informed decisions that balance financial resilience, risk appetite and long-term value.
Purpose of the role
The Senior Financial Risk Actuary is a member of the Balance Sheet & ALM Oversight team.
The key purpose of the role is to provide strategic advice, constructive challenge and effective Line 2 oversight in relation to the Group’s balance sheets and delivery of the company’s long-term financial strategy. Working closely across the Financial Risk Team and the business, the role holder will help ensure the Group develops and implements effective strategies for managing and mitigating financial risks, supported by an appropriate risk management framework, clearly defined risk appetite and an effective, efficient oversight model.
Important areas within the oversight scope of this role are: asset-liability management including hedging, Matching Adjustment, balance sheet optimisation, stress and scenario testing and oversight including Solvency UK, UK GAAP and IFRS 17 Balance Sheets and liquidity; capital management and the financial risks arising from the effects of climate change. The team also contributes towards the Recovery and Resolution Plans and the Own Risk and Solvency Assessment.
Key responsibilities
- Support the Head of Balance Sheet & ALM Oversight in oversight of the Group’s balance sheets (Group and all UK legal entities) and delivery of the company’s long-term financial strategy , providing Line 2 advice, guidance and challenge to the business.
- Opine on material business decisions and assess whether key risks and trade-offs have been considered appropriately. Line 2 opinions should consider the Group’s strategic objectives and balance commercial opportunities with risk implications.
- Support the development and maintenance of effective and efficient Line 2 risk oversight activities that are proportionate and risk-based, providing clarity to the business on requirements for risk identification, risk management, risk mitigation and performance against Standard Life’s risk appetite.
- Provide technical leadership and act as a positive role model within the team, helping to focus oversight on material risks and transactions; support effective team ways of working; and contribute to a culture of high performance, development and continuous improvement through constructive feedback, coaching and knowledge sharing.
- Influence and constructively challenge senior stakeholder decisions, drawing on internal relationships, cross-functional networks, external market perspectives and relevant experience.
- Work independently to deliver clear, high-quality reports and materials for senior stakeholders.
- The successful candidate should lead by example, contribute positively to team culture and support wider team development through thought leadership , knowledge sharing and staying up to date with latest market practice.
What are we looking for?
- Qualified actuary with significant experience in a life insurer, regulator, consultancy or reinsurer.
- In-depth understanding of life insurance products (in particular PRT and annuities), regulatory frameworks (Solvency UK, IFRS 17, UK GAAP), and the principles of business planning, and balance sheet management and optimisation – including understanding of best market practice in key areas of oversight.
- Deep experience in the core technical areas of the role (i.e. balance sheet modelling and analysis, solvency & liquidity analysis, asset-liability management and hedging, Matching Adjustment and climate financial risks) and strong understanding of insurance, credit and market risks.
- Experience in financial risk oversight, including developing risk frameworks and setting risk appetite, with a focus on material risks and helping the business find solutions to strategic financial risk challenges that balance commercial outcomes and risk considerations.
- Proven ability to work across teams and support the delivery of enterprise-wide change in a large, complex organisation.
- Experience working with board level and c-suite through verbal and written communication and presentations, with the ability to distil complex technical analysis into clear, concise and decision-ready insights for senior stakeholders.
We want to hire the whole version of you.
We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you.
If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.
We’re reviewing applications as they come in and may close this role before the closing date, so apply early to avoid missing out.
Find out more about working at Standard Life
Guide for Candidates: standardlifeplc.pagetiger.com/guideforcandidates
Find or get answers from our colleagues: www.standardlifeplc.com/careers/talk-to-us