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Solvency II Associate Analyst [Pillar 1] –
Prudential Insurance Policy
£Attractive + bonus + excellent benefits
Canary Wharf
Do you have an understanding of Solvency II and, ideally, knowledge of existing rules and guidance? The Financial Services Authority (FSA) can offer you a unique opportunity to be at the heart of European insurance policy development – working across the FSA and the UK insurance industry to implement the new insurance regime.
Our Prudential Insurance Policy Department designs policy frameworks through Solvency II and IAIS to deliver the best outcomes for the regulation of UK firms, as well as advising on existing rules and guidance. You will develop Pillar 1 requirements arising from Solvency II requirements, with a strong focus on level 3 guidance for general insurance. Key tasks will range from dealing with stakeholder queries, supporting all Solvency II project workstreams and identifying and mitigating risks to the insurance sector, to helping to draft and develop new Handbook rules. As well as giving presentations to senior internal policy governance boards and briefing senior managers, you’ll provide specialist advice on the life insurance sub-sector.
We are looking for a background in life insurance gained as a trainee actuary or quantitative analyst that includes experience of reserving, pricing, reinsurance, capital modelling and/or calibration. The proven ability to interact at a senior level and communicate complex technical issues to a variety of audiences will be essential.
If you’re keen to build a varied career around the development of Solvency II in the UK and internationally, find out more and apply by clicking here. Ref: X00050.
Solvency II Associate Analyst, P/Q Actuary [Pillar 1] – Prudential Insurance Policy
£Attractive + bonus + excellent benefits
Canary Wharf
Do you have an understanding of Solvency II and, ideally, knowledge of existing rules and guidance? The Financial Services Authority (FSA) can offer you a unique opportunity to be at the heart of European insurance policy development – working across the FSA and the UK insurance industry to implement the new insurance regime.
Our Prudential Insurance Policy Department designs policy frameworks through Solvency II and IAIS to deliver the best outcomes for the regulation of UK firms, as well as advising on existing rules and guidance. You will develop Pillar 1 requirements arising from Solvency II requirements, with a strong focus on level 3 guidance for general insurance. Key tasks will range from dealing with stakeholder queries and supporting the development and implementation of requirements across all Solvency II project workstreams, to identifying and mitigating risks to the insurance sector and helping to draft and develop the new Handbook rules.
We are looking for a background in general insurance gained as a trainee actuary or quantitative analyst. The proven ability to interact at a senior level and communicate complex technical issues to a variety of audiences will be essential.
If you’re keen to build a varied career around the development of Solvency II in the UK and internationally, find out more and apply by clickinghere. Ref: X00049.
Solvency II Associate/Actuary –
Prudential Assurance Policy, Internal Models
£Attractive + bonus + excellent benefits
Canary Wharf
If you have an understanding of Solvency II, the Financial Services Authority (FSA) can offer you a unique opportunity to be at the heart of European insurance policy development – working across the FSA and the UK insurance industry to implement the new insurance regime.
Our Prudential Insurance Policy Department designs policy frameworks through Solvency II and IAIS to deliver the best outcomes for the regulation of UK firms, as well as advising on existing rules and guidance. As part of the Insurance Modelling team, you’ll support and lead specific areas of the FSA’s development, negotiation and implementation of the new internal models’ requirements arising from the Solvency II Directive. This will include proposing changes to model policy documents, dealing with queries from external stakeholders, developing the new Handbook rules and identifying and mitigating risks to the insurance sector arising from Solvency II implementation.
Your comprehensive experience in the general or life insurance industry will have included modelling economic and regulatory risk capital and, ideally, exposure to insurance regulation and EU-related policy development. A first-class organiser and problem solver, you will be capable of communicating complex technical issues to a variety of audiences in plain English. Coaching and training skills plus exposure to the ICAS regime will be a significant asset.
If you’re keen to build a varied career around the development of Solvency II in the UK and internationally, find out more and apply by clicking here. Ref: X00052.
Solvency II Programme Director – Head of Department
£Attractive + bonus + excellent benefits
Canary Wharf
This is a chance to play a key, senior leadership role in Solvency II – a priority programme at the Financial Services Authority (FSA) – and develop an in-depth understanding of the new regulatory landscape for the insurance industry.
Solvency II will fundamentally reshape the prudential regime for European insurers and reinsurers. Scheduled to come into effect at the end of 2012, it will establish a revised set of EU-wide requirements covering both quantitative and qualitative elements of managing a firm’s business. This high-profile programme now needs a permanent Director to lead the change required in the FSA to implement the new legislation.
Leading a high-calibre team, you’ll be responsible for delivering the programme’s outcome and objectives, and explaining its purpose and benefits to customers and stakeholders. Key tasks will include ensuring the programme is scoped, planned, implemented and evaluated, driving strategy, managing business change, and identifying and prioritising risks. As well as winning stakeholder support and establishing programme management and governance management frameworks, you’ll be expected to promote innovation, chair the Programme Board and oversee financial management.
The role calls for a highly effective people manager with a track record of delivering large-scale change. The proven ability to manage relationships with an extensive, diverse stakeholder group, gain a rapid understanding of policy and business requirements and make informed decisions based on critical analysis will be essential. A flexible team player capable of managing priorities and resources to achieve outcomes, you’ll be familiar with project management tools such as MSP and PRINCE 2. A background in financial services/insurance and an understanding of relevant UK and European legislation would be advantageous.
If you’re keen to build a varied career around the development of Solvency II in the UK and internationally, find out more and apply by clicking here. Ref: X00046.
Job Purpose
Additional Comments:
SKILLS:
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ABOUT THE COMPANY:
Overall Job Purpose
Drive fraud prevention strategy, policy, risk and control framework and standards for Debit Cards, Credit Cards and Card aquiring to maintain fraud losses within risk appetite across BarCorp estate
Key Accountabilities & approximate time split (%)
Essential
SKILLS:
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ABOUT THE COMPANY:
Overall Job Purpose
Drive fraud prevention strategy, policy, risk and control framework and standards for Online channels to maintain fraud losses within risk appetite across BarCorp estate
Key Accountabilities & approximate time split (%)
SKILLS:
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ABOUT THE COMPANY:
Who are we?
Barclays Corporate is the corporate banking arm of the Barclays group, managed alongside Barclays Capital, our investment banking arm, and Barclays Wealth, our wealth management business. Barclays has a strong track record of supporting UK and Global business, a responsibility we take incredibly seriously; their success is our success.
Our global network of local market specialists supports customers in over 20 countries. Our connections help ensure the best possible terms as well as safeguarding their international trade transactions.
What will the role involve?
This exciting opportunity sits within Debt Finance. You will be the credit expert to nominated Relationship Points or Teams, working with a defined portfolio of predominantly leveraged customer connections, acting as the conduit to Credit for sanctioning purposes.
You will deliver high quality and consistent credit applications, making recommendations. You will act as a dedicated source of knowledge to other areas of the Bank on areas of specialism. You will develop practical and appropriate credit solutions (or Lending structures) through understanding customer needs.
Within Credit Risk Management, you will assess a customer's business, through the analysis of Business and Credit risks associated with the provision of the Bank's products and services to the customer. You will be the provision of information on a customer's business via research using various sources e.g. trade journals / brokers reports / Internet / Bloomberg and rating agencies. You will develop high quality credit solutions with the view of obtaining credit approval from Specialist Credit Sanctioners and be the joint contact for credit management purposes for accountants, solicitors and other professionals.
What will you need?
You will have a good understanding of lending procedures with specific industry/country/International awareness. This experience will come from a Corporate Bank (and other Group) products and services frequently used by larger customers with a knowledge of Zeus and other bank systems.
You will have an awareness of legislation affecting Barclays Corp and customers (including Data Protection Act, Companies Act, Insolvency Act, Financial Services Act) and have the highest regard for confidentiality.
You will understand the roles and the responsibilities of Specialist Credit and Sales teams and other areas of the group such as Barclays Capital who could typically have some involvement with the customer base.
What you will get in return?
This is an exciting opportunity to make a career with a business that matches your aspirations. You will have responsibility for personal adherence to Credit Risk, ensuring own conformance to policy and procedures within the function. Competitive salaries and pension packages are standard, and we also offer private healthcare and above average holiday entitlements.
Who are we?
Barclays Corporate is the corporate banking arm of the Barclays Group, managed alongside Barclays Capital, our investment banking arm, and Barclays Wealth, our wealth management business. This means we're in a unique position to give our business customers access to deeper and wider expertise from across the Barclays Group, while our people benefit from broader opportunities than before.
Our stability and financial strength, 300 years of corporate banking experience and our commitment to building and maintaining strong relationships haven't changed. What's different is that we intend to create the premier global corporate bank that enables businesses to thrive. In addition, we're going to achieve this by offering quality services and people, and by sharing our expertise, insight and connections with customers.
What will the role involve?
The role works in partnership with specialist business units to drive and champion Credit Risk. You will work as part of a dynamic team whose proactive and innovative risk portfolio management approach will inform key business decisions. Languages are a must - fluent in Spanish and/or French.
Your role in leverage finance will have responsibility for oversight of Credit risk in Barcorp's overseas businesses, principally in Europe. As part of the team you will be liaising with a defined portfolio of 10-12 predominantly leveraged finance, French-based customer connections, acting as the conduit to Credit or BBS for sanctioning purposes. You will develop practical and appropriate credit solutions (or lending structures) through understanding customer needs. You will deliver high quality and consistent credit applications, making recommendations on appetite and strategy. You will act as a dedicated source of knowledge to stakeholders on product, business and credit risks posed on advances. You will maintain integrity of credit systems data and update financial information.
You will play an active role in shaping the future of Barcorp credit Risk. You will lead and assess a customer's business, through the analysis of Business and Credit risks associated with the provision of the Bank's products and services to the customer. You will complement own intuition and analysis with information on a customer's business via customer meetings and research using various sources e.g. trade journals / brokers reports / Internet / Bloomberg and rating agencies. You will develop high quality credit solutions with the view of obtaining credit approval from Structured Finance Credit and / or BBS Sanctioners.
What will you need?
You will be fluent in French and/or Spanish. You will have experience of stakeholder management at a senior level with significant practical experience of leverage finance. You will have Group Credit and Business Risk policy with in depth business awareness and specific industry/country/International awareness. You will have exposure to Corporate Bank (and other Group) products and services frequently used by large corporate customers. You will have awareness of legislation affecting the Bank and customers (including Data Protection Act, Companies Act, Insolvency Act, Financial Services Act) and have the highest regard for confidentiality. You will understand the roles and the responsibilities of Specialist Credit and Sales teams and other areas of the group such as Barclays Capital who could typically have some involvement with the customer base.
You will also work in partnership with Relationship Points on new and existing credit applications, providing guidance on credit appetite and consulting with Structured Finance Credit Team or BBS as appropriate. You will deliver service in line with agreed value contracts and work in partnership with sales team colleagues and proactively anticipate, respond to and seek to exceed the expectations of customers
What you will get in return?
As a Barclay's member of the team you will enjoy a highly competitive salary and an attractive benefits package including a private pension scheme, medical cover, territorial allowance and numerous lifestyle benefits. Your will be based in a state of the art building in the heart of Canary Wharf where you will enjoy an onsite health, beauty and fitness salon, subsidised restaurant and coffee lounges and impressive break out atriums for meetings. Barclays are dedicated to your learning and development needs to complement your career aspirations.
Who are we?
Barclays Corporate is the corporate banking arm of the Barclays Group, managed alongside Barclays Capital, our investment banking arm, and Barclays Wealth, our wealth management business. This means we're in a unique position to give our business customers access to deeper and wider expertise from across the Barclays Group, while our people benefit from broader opportunities than before.
Our stability and financial strength, 300 years of corporate banking experience and our commitment to building and maintaining strong relationships haven't changed. What's different is that we intend to create the premier global corporate bank that enables businesses to thrive. In addition, we're going to achieve this by offering quality services and people, and by sharing our expertise, insight and connections with customers.
What will the role involve?
The role works in partnership with specialist business units to drive and champion Credit Risk. You will lead, drive and actively manage the performance of 10-12 Corporate Credit Managers (CCMs) within SDF SRU whose function is to provide Monitoring & Control and Credit Report Writing support on the high risk Strategic Debt Finance portfolio.
You will proactively deliver and support the performance development process whilst inspiring and encouraging high performance in individuals and across the team. You will ensure handoffs of duties/responsibilities with other teams/functions run smoothly and within agreed process via ongoing communication with SDF Deal and Middle Office teams.
Your role will ensure portfolio coverage is fit for purpose at all times using a combination of a strong understanding of relative strengths and weaknesses across the SDF SRU CCM community and a sound working knowledge of the SDF portfolio and its constituent parts. You will closely monitor workflow, sampling output and KPIs of direct reports and in the context of the wider SDF SRU CCM community. You will liaise closely with Relationship Directors, Structured Finance Credit Team, BBS and other critical functions to ensure that relevant training is maintained to a high level across the team - to include Business Risk Analysis, Credit Analysis, Modelling, Deal Structuring, Pricing, Monitoring & Control procedures and Operational Risk Issues.
You will help ensure that Best Practice, Skills and Knowledge are shared across the team, where appropriate working with other areas of the Bank e.g. Other Industry Teams (Leveraged Finance, Financial Markets), BarCap, Credit, Operational Rigour, Product, Pricing Unit etc.
What will you need?
You will have experience of stakeholder management at a senior level with significant practical experience of Credit Risk. You will have an expert knowledge of credit risk monitoring tools and procedures.
We are looking for experience of credit analysis and controls in the Barclays Corporate arena, including use of Zeus and other Bank systems matched with good IT skills, notably in use of Excel. You will require strong knowledge of lending controls, tools and practices within Barclays Corporate. You will apply with strong working knowledge of regulatory impacts on the team e.g. Sarbox, Basle 2, FSA.
You will have a good knowledge and understanding of relevant legislation - Money Laundering, Data Protection, Financial Services Act, Health & Safety Act, Banking Code, etc matched with good knowledge of Corporate Controls and Checks. You will have knowledge of the range of products and services delivered via the Corporate Relationship Teams highlighting knowledge of business continuity and contingency planning.
What you will get in return?
This is an exciting opportunity to make a career with a business that matches your aspirations. You will have responsibility for personal adherence to Credit Risk policy at Barcorp; ensuring own conformance to policy and procedures within this exciting Risk function, including proactive management. Competitive salaries and pension packages are standard, and we also offer private healthcare and above average holiday entitlements.
Firm Risk Associates
£30,000 - £60,000 (dependent on expertise)
Canary Wharf
Risk and regulation are headline-making issues, and the Financial Services Authority (FSA) is a thought leader among regulators for the quality of its risk approach. These high-profile roles offer an opportunity to gain a deep understanding of risk management, exposure to key issues facing our organisation and the financial services sector, plus the chance to directly shape financial regulation.
The Risk Management Division is central to how the FSA operates and does business. Its aim is to provide integrated risk management that enables us to identify, measure, monitor and control our risk portfolio effectively and economically, as well as evaluating how we can rate risk in the future.
The Division owns and develops the FSA’s risk framework, which the FSA uses to assess risks in regulated firms, horizontal risks and their own internal risks. You will be part of a team responsible for developing and maintaining the framework in relation to firm supervision. This will involve integrating new policy initiatives, processes and approaches into the framework, analysing qualitative data to engender better risk management and providing guidance on risk issues. As well as plenty of scope to innovate across an interesting and varied portfolio of work, you can expect interaction with colleagues across the FSA and the backing of a supportive management team.
A financial services, accountancy, economics, or legal background would all be acceptable. What’s important is that you have strong analytical and technical skills, the ability to forge and manage stakeholder relationships, and experience in risk management, process and policy implementation. A ‘can do’ attitude is essential, as is the ability to address immediate challenges while progressing longer-term initiatives.
In addition to the chance to shape the risk management policy of a major regulatory body, you can expect a package that will fully reflect your skills and knowledge.
Find out more and apply at www.careersatfsa.com reference R00138.
Associate/Technical Specialist - Reinsurance Specialist - Solvency II
£Competitive + excellent flexible benefits (dependant on skills and experience)
Canary Wharf, London
If you have a background in reinsurance, we’d like to hear from you at the Financial Services Authority (FSA). As the UK’s sole financial regulator it’s our job to protect consumers and maintain market confidence. We are currently developing our Solvency II internal model assessment approach and have an opening within our Prudential Risk Division (PRD) for those with capital modelling experience through ICAS or Solvency II projects.
The Team's work involves Solvency II internal model approval development and prudential risks within insurance firms. As one of a group of specialist staff, you’ll help to progress the design and implementation of our internal model assessment. This will involve everything from reviewing firms' assessment of reinsurance risk as part of its internal model and advising on other elements of credit risk and underwriting risk to liaising with colleagues and firms as they prepare for internal model assessment. Providing thought leadership, undertaking ad-hoc research and taking ownership of your own portfolio of firms will also be key.
As well as expertise in reinsurance practices and principles, we are looking for a thorough understanding of the full range of reinsurance products, as well as common modelling techniques. A strong communicator and networker, you’ll have the ability to translate technical concepts into practical solutions and to challenge, negotiate and influence at the highest level. If you also have a background in regulatory capital, reserving, pricing systems and processes, and a good working knowledge of ICAS and developments in Solvency II regime, so much the better.
If you’re keen to build a varied career around the development of Solvency II in the UK and internationally, find out more and apply at www.careersatfsa.com/solvencyII, reference X00019.
Insurance Market Ratings Analyst – Solvency II
£Competitive + excellent flexible benefits (dependant on skills and experience)
Canary Wharf
If you have experience of assessing the credit rating of insurance and reinsurance companies, the Financial Services Authority (FSA) can give you an unparalleled view of Solvency II development and implementation.
We are currently developing our Solvency II internal model assessment approach. Your technical specialist role within the Solvency II & Enterprise Wide Risk Management Team of our Prudential Risk Division will put you at the forefront of the insurance industry’s understanding of capital modelling and the evolution of quantified risk within the new regulatory framework.
Taking ownership of a portfolio of firms, you’ll review and challenge their assessment of reinsurance risk (and possibly other elements of insurance risk according to your experience), before leading the model approval process through to implementation. This will involve liaising closely with colleagues across the FSA, providing thought leadership on Solvency II issues and shaping best practice. You’ll also input the design and management of projects relating to internal model assessment.
A detailed understanding of insurance financial statements and credit ratings will ideally be combined with experience of capital modelling plus knowledge of ICAS and developments in the Solvency II regime. A self-starter with considerable commercial acumen, you’ll need the integrity to challenge accepted practices along with the credibility to negotiate and influence at the highest levels.
If you’re keen to build a varied career around the development of Solvency II in the UK and internationally, find out more and apply at www.careersatfsa.com/solvencyII, reference X00020.
Lawyers — Associate level
General Council
Range of positions from £65,000 to £95,000
(12 month fixed-term contract)
If you are skilled in providing regulatory advice to the insurance industry, you can make your mark at the heart of Solvency II – one of the most fundamental projects undertaken by the Financial Services Authority. As the UK’s financial regulator, we have the mission of safeguarding tens of millions of consumers, and this initiative will transform the regulation of the insurance sector.
At the centre of our General Council, you will develop policy, advise on legal measures and options, define regulatory requirements and draft new rules, ensuring that everything we do complies with both EU guidelines and evolving best practice. Playing a pivotal role in embedding Solvency II, you will operate within a small team with an exceptional peer group led by recognised experts. This will give you an unrivalled understanding of the regulatory environment, backed by outstanding training and extensive scope for professional development.
Naturally, you will require a strong academic background plus appropriate PQE, which could have been gained in-house, in private practice or within the public sector. In particular, you should be experienced in providing regulatory advice within the insurance industry and you will also have a basic understanding of the risks and issues raised by Solvency II. Equally importantly, you must possess sound and balanced judgment, the confidence to challenge conventional thinking and an intellectually flexible and agile approach, enabling you to switch between subject areas at will.
If you’re keen to build a varied career around the development of Solvency II in the UK and internationally, find out more and apply at www.careersatfsa.com/solvencyII, reference
X00033.
Life Actuary
£60k - £118k + benefits
Canary Wharf
There has never been a better time to join the Financial Services Authority (FSA). Extremely volatile market conditions have created significant challenges for the insurance industry and, as the industry regulator, considerably raised our profile. The regulatory landscape is also poised for major change with the planned implementation of Solvency II.
A key member of the Life Actuarial team within the Insurance Department of Retail Firms Division of the newly formed Supervision business unit, you will help to drive us forward through this watershed period. You will carry out risk-based assessments of your own portfolio of insurance firms and groups to identify risks, as well as performing effective, risk-based analysis of the industry to spot emerging themes and recommend corrective action. Preparing us for Solvency II implementation and increasing our knowledge of specialist areas such as longevity or credit risk will also be part of your role.
You must have strong technical knowledge of a wide range of actuarial activities relevant to regulatory supervision including ICAs, stochastic modelling and realistic balance sheets. Experience of dealing with complex regulatory issues from a firm, consulting or regulator perspective is essential, while an interest in capital modelling or reserving would be useful. In addition, you should have plenty of drive, personal credibility and the tenacity to challenge the senior management of regulated firms.
If you’re keen to build a varied career around the development of Solvency II in the UK and internationally, find out more and apply at www.careersatfsa.com/solvencyII, reference X00022.
Quantitative Analyst, ART – Solvency II
£Competitive + excellent flexible benefits (dependant on skills and experience)
Canary Wharf, London
If you can combine proven quantitative skills with a first degree in a numerate discipline, we can offer you the ideal home for your talents at the Financial Services Authority (FSA). As the UK’s sole financial regulator it’s our job to protect consumers and maintain market confidence. Our ART team sits within CMMD (Capital Management and Modelling Department), one of four departments within the Prudential Risk Division (PRD). As part of this vital team, you’ll help to provide powerful quantitative analytics capabilities to PRD and the wider FSA.
As well as offering expertise in developing valuation and risk tools for stakeholders, you’ll focus on risk measurement, simulation and benchmarking tools for use in the supervision of insurance firms. There will be a particular emphasis on developing tools to support the internal model approval process under Solvency II which will involve working closely with PRD. This will be an intellectually demanding role which offers the opportunity to have a significant impact on the financial services sector and a high profile within the FSA.
We are looking for a solid research background, a wide-ranging understanding of financial mathematics and stochastic calculus and coding skills, including C++, VBA, MatLab or R. The ability to compare and contrast alternative modelling solutions, communicate technical issues succinctly and acquire new skills and knowledge quickly is essential. You should also have experience in a similar role within a financial or professional services firm and be able to apply your knowledge of developing quantitative analytical solutions. If you’re a qualified actuary or have a post-graduate degree or qualification in a quantitative or finance-related subject, so much the better.
If you’re keen to build a varied career around the development of Solvency II in the UK and internationally, find out more and apply at www.careersatfsa.com/solvencyII, reference X00026.
Senior Analysts – Life Actuarial Team
£Competitive + benefits
Canary Wharf
If you want to gain a truly unique view of Solvency II development, plus the opportunity to shape prudential regulation both domestically and internationally, bring your expertise to the Financial Services Authority (FSA).
Our Life Actuarial Team – part of the Insurance Department within the Retail Firms Division of our new Supervision unit – is integral to taking forward our Solvency II internal model assessment approach. Joining the team, you will be at the forefront of the insurance industry’s understanding of capital modelling and the evolution of the quantification of risk within the new regulatory framework.
We need actuaries at different levels who will relish the prospect of driving regulatory change, shaping our approach to risk management and protecting consumers.
At Associate level, you’ll carry out proportionate, risk-based assessments of a portfolio of firms (and sector groups). Aims will be to identify key risks to FSA statutory objectives and work with colleagues and firms to help mitigate these risks, including an assessment of firms’ internal models and risk
frameworks. Roles at Technical Specialist level call for stronger technical knowledge and involve keeping abreast with and sharing knowledge on latest industry thinking and leading or supporting FSA teams carrying out in-depth reviews of firms’ approaches in areas such as asset liability management.
Your initial 12-24 months will be spent exclusively on Solvency II internal model development activity, as part of a group of specialists dedicated to progressing the design for the implementation of internal model assessment. You can expect to be involved in thematic reviews, pilot exercises and testing, and providing advice, research and thought leadership. At the end of this phase, you will continue to be involved in Solvency II implementation while contributing to the ‘business as usual’ functions of the team. This will involve providing actuarial advice and support to all life insurance Supervision teams as well as other areas of the FSA.
A qualified actuary, you will have ICAS or Solvency II experience along with strong knowledge of capital modelling and the risk framework within which it operates – broad experience of insurance firms and their capital modelling systems and processes would also be useful. Both a self-starter and a team player, you will have the ability to translate technical concepts into practical solutions, plus the well-developed stakeholder management skills to influence and negotiate at the highest levels.
If you’re keen to build a varied career around the development of Solvency II in the UK and internationally, find out more and apply at www.careersatfsa.com/solvencyII, reference CF00517.
Solvency II - IT and Data Management Specialist
£Competitive Salary + Excellent Flex Benefits
Canary Wharf – London
If you’re an IT Specialist with a background in the insurance sector, we can offer you a key role at the Financial Services Authority (FSA). The UK’s financial regulator, our Prudential Risk Division (PRD) advises firms on risk and is currently in the process of developing our Solvency II internal model assessment. As part of our Operational Risk Team, you will focus initially on supporting this critical initiative.
Visiting firms to review and advise on the adequacy of their IT arrangements and liaising with colleagues on the Solvency II internal model approval process will be central to your role. We’ll also call upon you to make a valuable contribution to thematic work at firms on operational risk management capabilities, such as security issues, as well as keeping up to date with IT developments, emerging practices and looming threats. Ad-hoc research, training Supervisors and providing thought leadership on Solvency II issues will also be down to you.
Whether you’re a senior IT auditor at a large firm or an external IT auditor within professional services, you’ll be CISA or QICA qualified and have a solid grasp of our approach to regulation – particularly in terms of systems and controls. We’ll also be looking for an understanding of business continuity planning and a good working knowledge of Solvency II and its data management requirements. If you’re familiar with the life insurance sector too, so much the better.
If you’re keen to build a varied career around the development of Solvency II in the UK and internationally, find out more and apply at www.careersatfsa.com/solvencyII, reference X00025.
Solvency II Associate (Pillars 2 & 3) –
Prudential Insurance Policy
£Competitive
Canary Wharf
At the Financial Services Authority (FSA), we can give you a unique insight into Solvency II as part of a team responsible for its development, plus a fascinating understanding of the future of insurance regulation. Make no mistake, you will be instrumental in designing future policy frameworks (through Solvency II and IAIS) that will deliver the best achievable outcomes for the regulation and supervision of UK firms, as well as providing policy advice on the application and development of existing rules and guidance in relation to innovative proposals by firms.
Working across our Prudential Insurance Policy Department, you will support specific areas relating to the new requirements arising out of the Solvency II Directive. This will include developing Pillar 1 balance sheet, Pillar 2 system of governance and Pillar 3 reporting/disclosure requirements, as well as helping to draft the new Handbook rules necessary to implement Solvency II requirements. Your role will also involve providing briefings and specialist advice regarding the life and/or general insurance sub-sectors, and fielding queries from firms and other stakeholders concerning Solvency II.
We are looking for a good insight into the life and/or general insurance industry, along with a basic understanding of the Solvency II regime. An understanding of existing rules and guidance including Arrow and ICAS would be beneficial. You should have a keen interest in regulatory developments within the insurance sector, plus the ability to interact effectively with senior insurance professionals and communicate complex technical issues.
If you’re keen to build a varied career around the development of Solvency II in the UK and internationally, find out more and apply at www.careersatfsa.com/solvencyII, reference X00008-1.
Solvency II Associate – Groups Policy Team
£50,000 - £65,000 + benefits
Canary Wharf
At the Financial Services Authority (FSA), we can give you a unique insight into Solvency II as part of a team responsible for its implementation, plus a fascinating understanding of the future insurance regulatory framework. Make no mistake, your work will drive the development of the major insurance firms and help to protect millions of consumers.
The Groups Policy team is part of our Prudential Cross Sectoral Department, and you will be involved in all aspects of the team’s work. Primarily, you will be responsible for implementing the framework for insurance group supervision, which will include determining options for capital adequacy and Pillar 2 requirements applying to insurance groups. Supporting the negotiation process for Level 2 implementation measures and Level 3 guidance, and assisting with the design, application and review of the QIS 5 process for Groups will also be key tasks. The role will involve drafting and presenting consultation papers to relevant stakeholder boards.
You must have solid accounting or actuarial experience gained in the insurance sector. Strong research and analytical skills will be essential, as will the ability to develop, review and evaluate policy options objectively. A confident relationship manager, both internally and externally, you must be able to negotiate effectively and communicate complex matters to stakeholders. An understanding of the European legislative process, knowledge of market failure and cost benefits analysis, and a relevant professional qualification would all prove useful.
If you’re keen to build a varied career around the development of Solvency II in the UK and internationally, find out more and apply at www.careersatfsa.com/solvencyII, reference X00048.