Salary and benefits: Competitive salary 30% bonus up to 60%, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more

Recruiter: Beth Owens

We have an incredible opportunity to join us here at Phoenix Group as a Senior Capital Management Actuary to join our Matching Adjustment team.

Who are we?

We want to be the best place that any of our 6,800 colleagues have ever worked.

We’re the UK’s largest long-term savings and retirement business. We offer our 12 million customers products across our market-leading brands, including Standard Life, SunLife and ReAssure, with c.£259 billion of assets under administration. We’re a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we’re not done yet.

The role

As a Senior Capital Management Actuary you will work with the Head of MA to develop the Group’s Matching Adjustment application, with focus on delivering expanded approvals for illiquid asset deployment and optimisation of the fund. You will be a subject matter expert when engaging with internal and external stakeholders on the issues relating to the Matching Adjustment, including advisory to International business

• To provide expert input to Matching Adjustment treatment of new asset and product propositions, in aid of Phoenix Asset management and Retirement solutions strategy
• Drive proposals for the inclusion of assets, reinsurance, and liabilities in the MA portfolio
• To own the Matching Adjustment methodologies, including MA calculation, PRA tests, asset hypothecation and idiosyncratic features of illiquid credit
• To use benchmarking and management information to identify and execute management actions to optimise the Matching Adjustment fund
• To drive on all MA related governance and guide on regulatory engagement for the Matching Adjustment approval
• To drive on VA applications in order to enhance capital efficiency of holding liabilities in the non-MA fund
• To drive development of the Group’s MA compliance framework to evidence continuous compliance with MA rules, supporting SMF 20 accountabilities
• To build and maintain effective relationships across Phoenix Group, understand stakeholder interests and ensuring outputs from the actuarial function remain up-to-date, relevant and effective.
• Assist and develop MA team members to develop technical and softer skills

What are we looking for?

We are looking for someone who is an excellent relationship builder able to drive complex and challenging initiatives working across functional boundaries, and someone who can use a range of communication and influencing techniques to gain support and buy-in from stakeholders.

Strong knowledge of Matching Adjustment and Solvency II regulation and considerations will be key to delivering the optimisation ideas needed to drive the business forward in a and compliant manner.

Experience of supporting investment solutions within an insurance environment, covering multi-asset portfolios and ALM solutions.

Inspiring people leadership is required to ensure we build a strong, engaged team and develop our internal talent.

If you enjoy driving complex change, thrive in a dynamic and developing environment, and want to be part of building and working as a team, then this role will suit you well.

We want to hire the whole version of you.

We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you.

If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.

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