Lead Model Risk Actuary

Miryco Consultants is supporting a leading Lloyd's of London insurer in their search for a Lead Model Risk Actuary to oversee critical validation activities and shape the future of the validation function.

Responsibilities:

• Lead the planning, coordination, and delivery of internal model validation activities, including:
• Defining the scope of annual validations, test specifications, and pass/fail criteria.
• Designing and developing validation processes with independence and rigour.
• Conducting deep-dive reviews of the model build and parameterisation.
• Engage with senior stakeholders and regulators on validation findings, presenting insights to board risk committees.
• Provide effective challenge to quantitative and qualitative aspects of the Internal Model.
• Oversee the validation of technical provisions with support from junior team members.
• Support the risk team in challenging quantitative elements of first-line processes.
• Improve and embed ongoing validation processes to meet evolving regulatory standards.
• Mentor and develop junior team members, managing workflow and delegation.

Experience:

• Qualifications: Fully qualified actuary with significant experience in internal model validation.

Technical Knowledge:

• Expertise in Solvency II regulations and actuarial standards.
• Proficiency in capital modelling and validation techniques, including Lloyd’s Solvency II reporting and SAO's.
• Familiarity with technical provisions validation is advantageous.
• Advanced proficiency in Microsoft Office; experience with capital modelling software or programming languages is beneficial.

Soft Skills:

• Strong interpersonal and communication skills, capable of engaging technical and non-technical audiences.
• Proven project management ability to deliver under tight deadlines.
• Analytical mindset with attention to detail and the ability to solve complex problems.

Location: London (Hybrid)

Salary: Up to £170,000 + Bonus

Please note, our client is unable to offer sponsorship for this opportunity. Finally, should you not be contacted within five working days of submitting your application, then unfortunately you have not been shortlisted for the opportunity. We will however, be in touch should there be any other opportunities of potential interest that are suiting to your skills.

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