Risk Analyst (Life Actuarial Dept) - Flexible

Phoenix Group
Wythall, Birmingham
£38,600 - £46,000 + 10% completion bonus
09 Apr 2018
18 Apr 2018
Contract Type

£38,600 - £46,000 + 10% Completion Bonus 

9 Month Fixed Term Contract to end of January 2019

Excellent benefits including 10% completion bonus, private medical cover and defined contribution pension scheme

This unique role offers you the exciting prospect of developing an understanding of how Phoenix's Risk Management Framework (RMF) and Solvency II governance processes work in practice, along with some great exposure to senior management and liaison with subject matter experts across the business.

The Role

You will provide support to the Internal Model Risk Management Actuary to ensure that our Life Actuarial team complies with the relevant requirements of our RMF, Model Governance Policy and Internal Model Standards. Amongst a range of responsibilities, you'll support:

• Preparation of Risk Management Information for the Phoenix Management Board;
• Operation of the Internal Model Change process;
• Operation of the Internal Model weakness and limitations process; and
• Operation of the Internal Model expert judgement reporting process.

You’ll be liaising with subject matter experts across various teams within our Actuarial, Finance and Risk functions to help "tell the story" of Phoenix’s compliance with our risk frameworks – so there’ll be plenty of opportunities to put your communication and stakeholder management skills to great use!

What we’re looking for:

You'll be a quick learner, able to pick up new processes and concepts quickly by talking to colleagues and with reference to process notes.

You will have ideally completed the CT series of exams of the UK Actuarial Profession (or be able to demonstrate an equivalent level of knowledge gained via experience in a Financial Services environment), to evidence your familiarity with the actuarial concepts and terminology which you'll encounter in this role.  You may also be studying towards some of the later actuarial exams – although please note, this role does not come with formal study support.  We'll still be keen to hear from you if you don't have a traditional actuarial background; an ability to quickly make sense of new technical concepts and understand how different processes interact is equally valuable.

We’ll expect you to:

• Use and apply your knowledge and communication skills to present information in a non-technical way;
• Engage with SMEs and senior colleagues across Life Actuarial, Life Finance, Group Actuarial and Group Risk;
• Demonstrate perseverance to follow processes through to completion;
• Show attention to detail and ensure that MI is accurate and complete;
• Be able to take a broad view of how different processes are connected, identifying discrepancies and suggesting improvements where appropriate;
• Take on multiple tasks and deliver within defined quality and time parameters;
• Have a flexible attitude to accommodate a varied workload and the ongoing development of the role; and
• Have good Excel and Word skills.

You'll be confident when engaging with others to ensure risk and governance issues are high on the agenda, and not be afraid to speak out or challenge if you feel there are any ambiguities, inconsistencies or shortfalls in the information which is being provided. An inquisitive mind, an ability to extract and summarise key points from technical data, and a genuine interest in how risks are managed within an actuarial function will be key to success in this type of role.

In return, you’ll gain experience working with a small but knowledgeable and supportive team of experts, gaining a deeper understanding of how our Life Actuarial function manages its investment, insurance and capital risks.  It could be the perfect stepping stone to your next actuarial or risk role!

About us:

We're the UK's largest closed life assurance and pension fund consolidator; as a rapidly developing FTSE 250 listed company, we protect the interests of around 6 million policyholders, with assets under management of over £75 billion. Careers with Phoenix Group are different; we've been certified as one of 'Britain's Top Employers' for seven years running, and we have a unique employee offering, including a strong corporate responsibility culture and some fantastic on-site facilities! If you’re looking for intellectually challenging work in an unrivalled environment, we might just be the place for you!

N.B. When on the Phoenix Careers site, first-time visitors will be asked to register before applying.

Closing date: Midnight, Wednesday 18th April 2018.


Flexible working at Phoenix is: "A lifestyle that fuses your personal and professional life."

Phoenix believes in a culture of flexibility, depending on the role we may be able to offer working arrangements that suit your needs. In today's world of work/life challenges, we recognise getting this right is important to our employees and the success of our business.

Examples of this may include but are not exclusive to the following:

Part Time: You would work less than full-time hours for the business, perhaps by working fewer days or hours per week.
Flexible hours: Still working your contracted hours, you would have the flexibility to start and finish within agreed core working times.
Job Share: Where the role allows you would voluntarily share the duties of one full-time position with another colleague, splitting the hours on a pro-rata basis.
Home working: You would undertake some, or all, of your working duties from home or anywhere else other than the standard allocated place of work (including other Phoenix locations).