Actuary – Credit & Investment Risk

Investment \& Credit Risk Actuary

Location: London (Hybrid 50%)

Contract: Permanent

Hours: 35 hours

Purpose

To undertake actuarial analysis to enable the effective risk management of our investment portfolio.

About Just

We help people achieve a better later life. That’s our purpose and it’s the reason we exist. We are a fast-growing company helping customers enjoy the retirement they deserve. We do this through a variety of market leading, award-winning products and services, delivered by a diverse team of over 1,400 purpose-led colleagues who genuinely put the customer at the heart of everything we do.

This is a brilliant time to join our business. We are on an exciting growth journey to become the UK’s most loved retirement expert.

Key responsibilities

• Support the analysis undertaken to set investment limits which aligns with the credit, property and liquidity risk appetites.
• Monitoring the investment limits to ensure that new investments from the Investment team do not result in breaches to these limits.
• Support the development of credit risk modelling and monitoring capabilities.
• Support the development of a counterparty risk framework and support the activities required under the framework.
• Manage the production of investment risk management information.
• Perform analysis to support the property risk management of the lifetime mortgage portfolio.
• Produce quantitative analysis or qualitative rationale to support changes to investment limits.
• Engaging with Investment Reporting and Accounting team to ensure regular investment limit monitoring is undertaken.
• Engaging with Investment Strategy on new investment opportunities to determine implication on investment limits.
• Produce regular management information to Investment Committee and Board on credit, counterparty and property risks.
• Engage with Investment Middle Office, Defined Benefits and Derivatives team to develop a counterparty risk framework to capture aggregate exposure across the asset portfolio, derivatives and funded reinsurance arrangements.
• Perform periodic reviews of the property assumptions used to model the lifetime mortgage portfolio such as: house price inflation; volatility; average time to sale and other related assumptions.
• Perform analysis to set the Property Risk budget; review the Maximum loan-to-value ratios at least annually; to include in the quarterly Property Risk report.
• Derive the sample of properties to be included in the property revaluation exercise and collaborate with the Property Management team to complete the exercise and write up the results for discussion at the relevant forums.

What we’re looking for

• Good understanding of Solvency UK framework
• Good understanding of the range of illiquid asset classes typically held by UK annuity writers and the associated risks – e.g. counterparty, credit and property risks.
• Strong analytical skills
• Ability to maintain competence and up to date knowledge
• Ability to build collaborative relationships with a range of stakeholders across the business
• Life industry experience in a Solvency UK environment
• Experience within an investment/ALM team is desirable
• Experience in producing technical analysis
• Experience in producing reports and presenting to committees
• Qualified FIA, FFA, CFA or equivalent

What’s in it for you

• A competitive salary, pension scheme and life assurance
• 25 days annual leave plus an additional day on us for your birthday
• Private medical cover and income protection, just in case
• A generous and highly achievable bonus scheme
• Opportunities to progress your career in-role and within the company
• Free access to the Headspace app, 24/7 employee assistance helpline and trained physical and mental health first aiders
• A variety of employee funded benefits available via our online benefits portal
• Plus, several additional purchase options available for you and your loved ones

Explore our

full range of benefits

on our dedicated benefits page.

Be Bold. Be Brilliant. Be Just.