Actuary (Capital Model)

Actuary

Location: London

Job Type: Full time

Who are Just? We’re a FTSE 250 Financial Services company who specialise in retirement solutions. Our world is moving quickly, with the defined benefit buy in / buy out space growing each year. Just continues to grow its business by over £4bn of assets annually. We are a purpose-driven company with compelling goals, helping people achieve a better later life through competitive and innovative products, services, financial advice, and guidance.

Purpose In this role, you will help to manage and develop risk-based capital models within the Group. The role covers all aspects of capital management and modelling, including compliance with relevant regulatory standards around data, documentation, statistical quality, calibration, and validation.

The Internal Model team supports the development of a stable capital position to enable delivery of organic capital generation.

Job Role Accountabilities

• Support the Head of Internal Model in managing and measuring the Group’s capital position.
• Leverage new technologies to develop and maintain the Group’s Internal Model, supporting Solvency II and IFRS balance sheets, risk appetite, and the ORSA.
• Ensure the ongoing maintenance of a fully-documented Internal Model compliant with all Solvency II tests and standards.
• Implement first line Internal Model validation activities in accordance with the validation framework.
• Support capital impact assessments for Group projects.
• Develop BAU processes to run efficiently and deliver robust results.
• Manage more junior members of the Internal Model team.

Examples of Key Activities

• Contribute to the annual recalibration of the Internal Model risks.
• Contribute to the annual proxy structure review.
• Drive improvements in the Internal Model using new technologies.
• Assess the capital model implications of Group projects.
• Identify risks, issues, and opportunities that could impact the capital position.
• Support Project Owners to ensure projects are implemented in a capital efficient way.
• Propose and prepare analysis to support papers for the Internal Model Governance Forum.
• Become established as a technical lead in several areas of the Internal Model.

Why Just? We are committed to building a more sustainable business and have publicly committed to reduce our scope 3 emissions to Net Zero by 2050 and our scope 1 and 2 emissions to Net Zero by 2025. We encourage our people to make small and meaningful changes in their everyday lives to protect our planet for future generations.

Diversity, Equity, and Inclusion (DE&I) is a key priority for Just. We have joined initiatives designed to improve outcomes for employees from underrepresented backgrounds and run a Reciprocal Mentoring scheme for employees from diverse backgrounds.

What’s clear about working at Just is that we care. We care about our customers, our purpose, our environment, inclusivity, wellbeing, and most importantly - each other.