Lead Senior Actuary - ORSA & RRP Lead

Job Description

Job Type: Permanent

This role could be based in any of Phoenix’s London, Birmingham or Edinburgh offices with time spent working in the office and from home.

All of our roles are open to part-time, job-share and other types of flexibility. We will discuss what is important to you and balancing this with business requirements during the recruitment process. You can read more about Phoenix Flex here.

Up to £150,000, dependant upon experience, plus bonus potential, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.

The Senior Lead Financial Risk Actuary is a member of the Financial Risk Operations team. The role exists to lead, with the Head of Financial Risk Operations, the delivery of the Group’s ORSA, Recovery and Resolution plans, and Solvent Exit Planning (including initial development of the new requirements). The role will support maintaining the Group’s Risk Appetite, Stress and Scenario Testing and other key Line 2 owned frameworks – ensuring these remain fit for purpose.

We offer a range of products across our market‑leading brands, Standard Life, Sun Life, Phoenix Life and ReAssure. Around 1 in 5 people in the UK has a pension with us. 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 supports the Risk leadership team through delivering the annual ORSA and Recovery and Resolutions plans, working with the Executive and Business Leadership, given the cross‑functional and strategic nature of the work. Strong technical and people leadership is key to the role, together with the ability to manage and influence Executive and Business Leader stakeholders.

The individual will collaborate with the business and wider Risk function, ensuring the Group maintains credible and realistic Recovery and Resolution plans. The role will be responsible for running the annual Recovery Plan fire drill with the Executive Committee and will work closely with the Financial Risk Leadership Team to champion the Risk Function’s Vision, Mission and Mandate.

• Support the Head of Financial Risk Operations with delivering the annual ORSA, Recovery and Resolution, and Solvent Exit Plans. This will require close working with the wider business and Risk function, with a focus on Executive and Business Leader engagement and stakeholder management.
• Maintain the Group’s Risk Appetite, Stress and Scenario Testing and other key Line 2 owned frameworks, reviewing them to ensure they remain fit for purpose and assisting the business to implement them efficiently and effectively. A feedback loop should be in place to support identifying inefficiencies caused by the frameworks to enable quick review and updates where required.
• Support the wider function by helping design and maintain an effective and efficient risk oversight activity for Line 2 that is proportionate and risk‑based, and provide clarity to the business on requirements around risk identification, risk management, risk mitigation and position with respect to Phoenix’s risk appetite. This should include consideration of how technology and AI can be used to enhance effectiveness and efficiency of risk management.
• Opine on material business decisions and assess if key risks and trade‑offs are considered appropriately. Line 2 opinions should consider the Group’s strategic objectives and balance commercial opportunities with risk implications.
• Provide both technical and people leadership, supporting a shift in the team culture to focus oversight on material risks and transactions; optimise resources to maximise performance and productivity; foster a culture that supports performance and development through feedback and coaching.
• Manage the team: set clear goals and KPIs, optimise the use of resources to maximise performance and productivity. Support wider Financial Risk Operations…