Illiquid Credit Modelling - Life Actuary Senior Manager

As one of the UK's largest Actuarial practices we're market leaders providing insights and solutions for all businesses that face significant and complex risks. We play an important role in supporting clients through uncertain times. Actuaries analyse how future events could affect businesses and we calculate the impact these events could have on our clients. Using our risk and analytical skills and predictive insights, we calculate the impact of changing demographics or legislation on pension schemes, the effects that changes in financial markets have on different organisations, or how likely a business is to be hit by an earthquake.
About Risk:

We're a leading provider of trust in the digital world - in the eyes of our people, our clients and our stakeholders. Today's business environment is different. More complex. More connected. Companies not only face new and unknown risks, but also new and untapped opportunities. Our team is at the forefront of this change, join us to be a part of transforming how risk is perceived and capitalised on.

About RMS:

Our Risk Modelling Services (RMS) team is a dynamic and diverse group of 350 individuals across London, Edinburgh, Manchester, Bristol and Mumbai, with a wide range of skills and experience within insurance, banking and commercial & government.

About the team:

A career in our Actuarial Life Services practice, within Actuarial Services, will provide you with the opportunity to contribute general insurance advice and consulting services to clients such as insurers, banks, regulators, and third party administrators. You'll provide advice covering solvency, economic capital, risk management, mergers and acquisitions, company restructuring and risk control, financial modelling, underwriting, new legislation, and the efficiency of claims or reporting processes. Simply put, you might help analyse the impact that new regulation will have on an insurance company's balance sheet or you could be revising businesses' projections and making sure they have adequate reserves.

Our team helps insurers address new financial reporting requirements by assessing the financial and business impacts of regulations, building implementation plans, and implementing relevant requirements, particularly across areas of financial reporting change.

About the role

We are seeking a Senior Manager specialising in Illiquid Credit modelling to join the Life Capital & Investments team within our UK Actuarial Services practice.

The UK Life Insurance sector is undergoing unprecedented change and will do so for many years to come. Solvency II is in the process of being reformed for the UK market, and there is continued and significant transfer of liabilities from pension schemes to insurance company balance sheets. At the same time, insurers are employing increasingly sophisticated investment strategies.

As a result, we are seeing significant demand for advice and support in the area of illiquid credit.

We are therefore seeking an energetic Senior Manager with practical, hands-on experience of valuing, rating and modelling illiquid credit for Life insurers, to support the growth of our business.

You will work closely with the Directors and Partners, and play an important role in establishing PwC as the go-to firm for capital management and investment advisory in the insurance sector.

In particular, you will be responsible for:

• Leading engagements with our Life insurance clients related to the valuation, rating and modelling of illiquid credit;
• Supporting the development of our illiquid credit propositions and models;
• Developing relationships with stakeholders at key client accounts, building a deep understanding of their businesses and their challenges/needs;
• Contributing to the production of market-leading thought leadership; and
• Representing PwC at relevant conferences and industry forums, including presenting.

Location

The role can be based in any of our UK offices (such as London, Edinburgh, Manchester, Bristol) with the opportunity to work with clients across the UK, as well as in Europe and internationally.

Preferred skills and experience

• Actuarial or CFA qualification;
• Proven experience in illiquid credit, covering valuation, rating and modelling;
• Deep experience of the Solvency II Matching Adjustment;
• Experience of building, maintaining and running capital models;
• Strong understanding of: different illiquid asset classes, current regulatory themes, valuation methodologies, rating frameworks, and capital modelling approaches;
• Strong analytical and problem-solving skills;
• Experience of managing teams;
• Delivering client projects to budget and within agreed timescales;
• Be commercial, with the ability and experience of working within a broader environment, and with vision as to developments at our clients and opportunities for consulting business;
• Be self-motivated, in particular taking responsibility for personal development; and
• Have strong oral, listening and written communication skills.

Who we're looking for

We are looking for individuals with relevant experience in illiquid credit for insurers, who are looking for new challenges, and who believe that they can leverage their skills in a new environment.

You will bring energy and enthusiasm to the role, supporting us to grow our capital management and investment advisory business.

The Deal

We want all of our people to feel empowered to be the best that they can be, which is why we have 'The Deal'.

Find out more about our firmwide Employee Value Proposition: https://www.pwc.co.uk/careers/about-us/the-new-deal.html

Diversity

Valuing Difference. Driving Inclusion.

We work in a changing world which offers great opportunities for people with diverse backgrounds and experiences. We seek to attract and employ the best people from the widest talent pool because creating value through diversity is what makes us strong as a business, enabling us to solve important problems and deliver value to our clients. We encourage an inclusive culture where people can be themselves, are valued for their strengths and are empowered to be the best they can be. As an organisation with an increasingly agile workforce, we also support different ways of working offering flexible working arrangements.

Learn more here about our work to support an inclusive culture: www.pwc.com/uk/diversity