Model Validation Manager

Acumen Resources

  • Ireland
  • Permanent
  • Full-time
  • 6 days ago
Permanent Ref No: 1616235 Qualification: Qualified, Nearly / Newly Qualified, Qualified, Nearly / Newly QualifiedOperating within the second line of defence, this role will ensure that models are fit for purpose, appropriately governed, and aligned with regulatory expectations and internal risk appetite. The role supports the model risk management framework and contributes to the overall resilience and integrity of decision-making processes.More specific responsibilities will include:Model Validation & Review
  • Independently validate models used, including models used in pricing new transactions, as well as models used in valuations, experience studies etc. Assess model design, assumptions, inputs, outputs, and performance.
  • Produce high-quality validation reports and communicate findings to stakeholders. Track remediation actions and ensure timely resolution of validation issues.
  • Provide challenge and oversight on model development and usage by the first line.
Model Governance & Framework Development
  • Support the implementation and enhancement of the model risk management framework and the maintenance of the model inventory. Ensure appropriate risk classification of models.
  • Contribute to model governance committees.
  • Produce model risk reporting for senior management as required.
  • Monitor emerging regulatory trends and industry best practices in model risk and ensure compliance with regulatory expectations.
Stakeholder Engagement
  • Collaborate with various Business Development and Actuarial teams to understand model usage and limitations.
  • Provide guidance as needed on model risk principles and validation standards.
Additional Initiatives
  • Support additional projects and initiatives to deliver broader risk management oversight as part of the Risk Function. This may include the review of new transactions, the review of risk limits/strategies or other projects/tasks as they arise.
What you will need to be successful in the roleThe ideal candidate will have/be:
  • An actuarial qualification, with at least 3-5 years working in an insurance or reinsurance environment
  • Strong analytical skills, including an ability to quickly understand different modelling platforms/programming languages
  • Strong critical thinking skills and problem-solving abilities
  • Excellent verbal communication and written (report writing) skills, with an ability to manage a range of stakeholders and provide objective challenge
  • High attention to detail and commitment to quality
  • Assertive and self-motivated, with an ability to work autonomously and meet deadlines
  • Proficiency or familiarity with modelling tools (e.g. R, Prophet, Excel/VBA) would be an advantage
For further details, please contactAcumen Resources specialises in the recruitment of the following professionals:
Chief Actuary | Head of Actuarial Function | Actuarial Director | Actuarial Function Holder | CRO | CFO | Actuarial Manager | Valuations Actuary | Product Development Actuary | Pricing & Reserving Actuary | Solvency II Actuary | Life Insurance Actuary | General Insurance Actuary | Non Life Actuary | Pensions Actuary | Investment Actuary | Capital Modelling Actuary | Capital Management Actuary | Risk Management Actuary | Enterprise Risk Management Actuary | Newly & Nearly Qualified Actuary| Part Qualified Actuary | Trainee Actuary| Actuarial Trainee | Student Actuary | Actuarial Graduate | Dublin | Ireland

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