Financial Risk Analyst

Responsibilities

• Play a key role in overseeing and monitoring the management of the financial risks of the company, and work with the first line to assess/ensure effectiveness of frameworks and processes that identify, monitor and manage financial risks.
• Work with the Financial Risk Manager and CRO to provide ongoing second line oversight of the first line's management of credit risks and ALM activities, including review and challenge of the design and operating effectiveness of governance and controls.
• Work with the Financial Risk Manager and CRO to oversee the effectiveness of internal credit rating methodologies and processes maintained by the investment team, including deep-dive reviews, as appropriate.
• Contribute to the second line review, challenge, and reporting on project, commercial, and strategic proposals (including Bulk Purchase Annuity deals, reinsurance arrangements, and acquisition activity).
• Monitor financial risk metrics, in line with the Company's risk appetite framework and contribute to the production of second line risk reporting to governance committees.
• Support the Financial Risk Manager and CRO in second line oversight of the management of Matching Adjustment-related risks and engage with the first line in support of MA applications to the regulator.
• Contribute to ORSA Report content and preparation.
• Support the Financial Risk Manager and CRO in the second line review of key actuarial assumptions and methodologies, and first line financial analysis and reports.
• Participate in the delivery of second line independent validation of aspects of the Partial Internal Model (PIM) (under Solvency UK), track and review the closure of Independent Validation findings, and support various second line oversight activities in respect of the PIM.
• Perform broader enterprise risk oversight and support the CRO and wider risk team in maintaining an effective Enterprise Risk Management Framework and Risk Appetite Framework, including the Risk and Control Self-Assessment registers and risk incident process. This includes supporting the development and operation of second line-owned tools and processes in the framework.
• Ad hoc tasks as required.
• Comply with the FCA’s conduct (and senior conduct) and Consumer Duty rules and the PRA’s conduct (and senior manager conduct) standards as set out.

• Proactive, motivated and able to assimilate new skills/information quickly.
• Ability to develop effective solutions to issues/problems.
• Good communication skills (written and verbal) and an ability to build and maintain positive relationships.
• Good risk management analysis skills/understanding of risk.
• Well‑organised, good attention to detail, able to prioritise effectively, work both independently and part of a team, and work to deadlines.
• Strong appetite to learn and develop.

• Part qualified actuary (or given up exams) with at least two years' experience as a financial risk professional (Life industry or Pensions Fund Investment with credit risk and or ALM risk experience.
• Experience of the regulatory environment in the UK.
• Understanding and experience of investments within the life or pensions industry, especially credit risk and illiquid assets.
• Previous risk management experience (1st and/or 2nd line).