Senior Financial Risk Manager - Corporate Transactions

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Job description

Salary: Competitive + excellent benefits including 30% on target bonus up to 60%, 12% pension, private medical insurance + much more!Job Type : PermanentClosing Date : 7th December 2021We support hybrid and flexible ways of working, and would welcome discussion on how we can enable you to thrive in your role. There may be a requirement to meet, engage and collaborate with team members or stakeholders at our offices for business purposes at particular times which would be discussed with you .We're committed to promoting equality in the workplace and creative and inclusive and flexible culture - one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our customers and clients.As one of the UK's Top Employers we've brought together businesses with long, successful histories and many strengths. More than ever, people need help and guidance from a company which is simple to deal and who they trust. And that's where you come in.We're currently recruiting for a Senior Financial Risk Manager to join our 2nd Line Corporate Risk Transactions Team within Group Risk to provide a highly professional actuarial service applying deep technical & business knowledge to aid senior management decision making and to lead others in the actuarial specialism.Key Responsibilities:Working in the 2nd line risk function, this is an exciting opportunity to gain exposure to high profile commercial transaction activity in a fast area of the business. You will have the opportunity to work directly with deal origination teams and structurers in Retirement Solutions, Corporate Development and other parts of the business.The role is for a Senior Financial Risk Actuary to support the Head of Corporate Transactions Risk and wider risk function in delivery of independent 2nd line risk oversight of commercial transactions across the Phoenix Group. The scope of the role is group wide, covering financial risks arising from Phoenix Group Holdings Plc, and its subsidiary insurance operations (including Phoenix Life, Standard Life, Standard Life International, and ReAssure) and future acquisitions. The role holder will be expected to develop and contribute to the strategy of the Group Risk function.The role purpose includes the following key areas of focus:To conduct independent 2nd line risk assurance and oversight of material corporate transactions (including: Mergers & Acquisitions, Bulk Purchase Annuities ("BPA"), reinsurance, intra-group transactions, capital raising, and other forms of risk transfer) and key strategic projects with material financial implications.To provide ongoing financial risk oversight in relation to new business origination activity of the Retirement Solutions Business Unit , including the following potential business lines:Bulk Purchase AnnuitiesReinsuranceEquity Release MortgagesTo support delivery of independent risk assurance, oversight and challenge to financial risk owners across the Phoenix Group, including senior management within Finance, Actuarial, and Corporate Development.To act as a subject matter expert in risk assessment of one or more of the Retirement Solutions business lines.Role Specific AccountabilitiesPromote effective challenge and informed decision-making on proposals that materially affect the Group's financial risk profile through agreed support to the Head of Corporate Transactions Risk.Conduct and prepare independent 2nd line risk assessment reports on material commercial transactions as identified by the Head of Corporate Transactions Risk.Present findings of risk assessments to senior stakeholders and management committees.Perform ongoing independent 2nd line oversight of the financial risks and risk management of new business origination undertaken by the Retirement Solutions business units.Perform periodic thematic deep dive risk reviews into the financial risks associated with annuity business, equity release mortgages, and reinsurance.Represent the 2nd line at management committees and meetings with other senior stakeholders as required by the Head of Corporate Transaction Risk.Provide technical financial risk input on other projects in order to support the Financial Risk department in delivering on the Risk Function Mandate.What We're Looking ForWe are looking for a dynamic and commercially minded actuary with good technical knowledge and experience in the life and pensions sector. Experience in corporate transactions and/or any of the key Retirement Solutions (BPA, Reinsurance, Equity Release Mortgages) is desirable.EssentialQualified actuary with post-qualification experience in the actuarial, finance or risk functions of an insurance companyKnowledge of the regulatory requirements (including Solvency II) for insurance companies, with particular emphasis on prudential regulationKnowledge and experience of the "three lines of defense" risk oversight model used across the insurance sectorUnderstanding of specialist financial risk related fields such as capital management and asset liability managementExcellent communication skills and gravitas, the ability to communicate effectively to senior managementDrive and flexibility to undertake a wide range of projects / activities simultaneously.Commercial acumen, strong influencing skills.DesirableDemonstrable experience (either in a 1st line or 2nd line capacity) of at least one of the following commercial areas:Bulk Purchase Annuity transactionsReinsurance transactionsEquity Release Mortgage originationMergers & Acquisitions in the insurance sectorWhat We OfferBring your 'whole self', skills and dedication to the Phoenix Group and we'll recognise your effort, support your development and help to drive your ambition. We'll ensure you're rewarded for your contribution with a competitive package that includes an attractive pension, annual bonus potential, private medical insurance, generous holiday entitlement, enhanced maternity and adoption leave and a range of other financial services and lifestyle flexible benefits.Join us and you join a unique organisation. It's not just the 14 million policyholders we serve, or the £300 billion of assets we look after. Or that we're a FTSE 100 company that has been listed as one of the UK's Top Employers for nine years running. It's our talented, inclusive and diverse workforce that makes us a success. We offer flexible working opportunities ensuring we attract and retain the very best of talent. Find out about more about our people's stories , our values and our commitment to diversityKey CompetenciesCommerciality - The ability to be commercially focused at all times.Communication Skills - Clearly and effectively communicates information, ideas, plans, requests and opinions to internal and external stakeholders through a range of channels including written and oral. Ensures alignment with communication guidelines and policies.Delivering Results - Meeting and exceeding performance goals and expectations to deliver results.Embrace Change - Adjusting your behaviour to meet the demands of a changing working environment.Innovation and Creativity - Ability to generate and implement creative solutions and novel ways to achieve goals.Market and Industry Knowledge - Knowledge of the markets, competitors, products, services, trends, impacting forces and factors, etc. that make up the industries which Standard Life operates in.Interviews and OnboardingAs we begin to open up our office doors and move into our hybrid way of working our interviews can be held either remotely or in one of our office locations. You will be told in advance how and where this will take place. All of our Onboarding is managed remotely with the exception in obtaining your right to work documents. If you are successful in the role we will require you to visit your new office ahead of joining with us. This will be managed and organised by the hiring manager or nominated person.We have in place a strong virtual support network to ensure new colleagues are supported and developed as they navigate their first few months with usAbout UsPhoenix Group is a member of the FTSE 100 index and is the UK's largest long-term savings and retirement business. We specialise in the acquisition and management of Heritage life insurance and pension funds. We've businesses in the UK, Germany and Ireland and hold a broad range of both Heritage and Open products split across three key business segments: UK Heritage, UK Open and Europe. Our open business manufactures and underwrites new products and policies to support people saving for their future in areas such as workplace pensions and SIPPs, primary under the Standard Life brand. And we market corporate pension trustee services and manufacture products to be sold under other brands. Did you know Phoenix Life manufactures SunLife's market leading Guaranteed Over 50's plan? Find out more about Phoenix Group here . We value diversity in our workforce and welcome enquiries from everyone.