Enterprise Risk Senior Manager Validation

Yorkshire and the Humber
08 Mar 2018
17 Mar 2018
Contract Type
Full Time

Enterprise Risk Senior Manager Validation

Job ID: R-63649
Full time

Solvency II requires the Risk Function to be responsible for the Internal Model used to calculate Aviva UKL’s capital requirements. As part of this ownership, we need to ensure that there is appropriate independent validation of the Internal Model.

You will support the ongoing requirement to make certain that the Internal Model is fit for purpose and adequately reflects the risk profile. You will be supporting the independent validation of all relevant entities within UKL. This includes the regular validation cycle as well as the validation associated with model changes and the remediation of material weaknesses and limitations.

Reporting to the Head of Internal Model Validation in UKL Risk you will keep a continuous awareness of best practice in internal models and independent validation across the industry.


  • Carry out and document the independent model validation testing in accordance with the agreed plan, analysing the results of the testing to form an independent opinion on the appropriateness of the internal model constituent parts.
  • Support the delivery of the annual Enterprise Risk Director independent validation report and underlying Validation Area Summary Reports needed for annual opinion of appropriateness of the Internal Model.
  • Play a leading role in the implementation and development of the validation framework within UKL, including liaising with other areas of the business to ensure the validation requirements are understood and adequately met
  • Collaborate with Group Risk to ensure the Validation framework develops in line with best practice and is fit for UKL.
  • Lead
  • the second line responsibilities in relation to the identified weaknesses and limitations of the Internal Model.
  • Provide 2nd line commentary for ORSA and regular Enterprise Risk Reports in relation to Validation.


  • Qualified actuary (FIA / FFA) or qualified through suitable experience
  • Ability and ambition to quickly acquire a deep understanding of the UKL Life Internal Model
  • Ability to present complex information in a straightforward and clear manner facilitating the right actions and responses
  • Energy, drive and a ‘can do’ attitude
  • Ability to run several opposing priorities at a time
  • A high impact individual, who provides confident and credible challenge to technical authorities within the business
  • Knowledge of current and emerging issues in the life and pensions industry, enterprise risk management and regulatory environment relating to risk
  • Developed understanding of industry leading practices in terms of internal model methodologies and techniques, and Enterprise Risk Management
  • A knowledge of SII internal model requirements including validation
  • Experience of economic capital assessments and understanding of the key drivers of the main performance management metrics used in the Life Insurance Industry

If this sounds like a challenge that you would enjoy, we would love to hear from you.

What will you get for this role?

  • Salary of up to £85,000
  • Generous defined contribution pension scheme
  • Annual performance related bonus and pay review
  • Minimum holiday allowance of 25 days plus bank holidays and the option to buy/sell up to 5 additional days
  • Up to 30% discount for some Aviva products through “My Aviva Extras” plus discounts for Friends and Family
  • Excellent range of flexible benefits to include a matching share save scheme

Bring to Aviva what makes you different and we’ll support you to do the best work of your life. We encourage applications from everyone who wants to help us achieve our purpose of helping our customers to Defy Uncertainty.

One of Aviva’s core values is Care More, and this is brought to life through the flexible ways we like to work. This may include working from home some of the time, or flexible work schedules to accommodate parent and carer responsibilities, further studies and hobbies.

CLOSING DATE: 20th March 2018

This job was originally posted as www.jobsite.co.uk/job/960289598

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