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Direct Line Group is hiring a

Nearly/Newly Qualified Actuary (Capital Model Validation)

At Direct Line Group, insurance is just the start. Combining decades of industry experience with talented people in every field from data, technology, customer care and auto repair, to HR, finance and procurement, we’re a customer-obsessed market powerhouse. And we all work together to be brilliant for customers, every single day.

DLG's growth is supported by our Risk function. From Upstream Risk, Regulatory Advice and Compliance Management Information to Privacy and Data Protection, our Risk and Compliance teams keep us one step ahead, always. With links to every part of the business, and the responsibility for keeping people safe and compliant with all regulatory, claims, and underwriting controls, we’ve got opportunities to develop your skills no matter your specialization.

We are looking for people to join us who are excited by the challenge of becoming a cutting-edge Risk function, and as a result we have an exciting opportunity to join the team as a Risk Actuary, focused on the group's Capital position.

What you'll be doing:

Reporting into the Head of Validation, you will undertake the ongoing technical independent validation of the Internal Economic Capital Model (IECM), with a primary focus on reviewing and performing the technical test elements and coordinating the delivery of primary validation testing, as part of DLG's continuing compliance with Solvency II.

Our Model Validation Team has an objective to bring more of the validation activity currently outsourced, in-house and putting processes in place which will improve efficiencies. And this role will be imperative to achieving this!

What else will you do?

  • Supporting the Validation Framework planning, leading on and performing deep dive reviews into models and reporting findings to the Model Validation Team, leading on model change testing and parameter selection reasonableness checks
  • Risk oversight reviews of Solvency II reporting, capital management, investment activity, and pricing
  • Produce and share regular external and internal market reporting and commentary on DLG risks
  • Build and maintain effective relationships across different teams (wider Risk and Compliance, Actuarial, and Investment and Capital Management/Treasury)

What we're looking for:

  • Nearly or newly qualified actuary (or similar) with technical experience in Capital, Reserving or Pricing
  • Experience with Tyche modelling software would be an advantage
  • Good understanding of market risk and asset liability management

Hours: 35 hours (Monday - Friday)

Ways of Working

Our mixed model way of working offers a 'best of both worlds' approach combining the best parts of home and office-working, offering flexibility for everyone. Most colleagues are in the office twice per week, and we'll consider the flexible working options that work best for you.


We recognize we wouldn't be where we are today without our colleagues, that's why we offer excellent benefits designed to suit your lifestyle:

  • Generous 9% employer pension. Regardless of whether you contribute into your pension or not, DLG pay 9% into your pension (but you can take this as cash if you want!)
  • Eligibility for annual performance bonus of up to 10%
  • 50% off home, motor and pet insurance
  • Free travel insurance and Green Flag breakdown cover
  • Electric Vehicle car scheme which allows all colleagues to lease a brand new electric or plug-in hybrid car in a tax efficient way
  • Generous holidays, starting at 25 days and going up to 28 days per year. Plus, the option of buying or selling up to 5 days each year!
  • Buy-as-you-earn share scheme
  • Employee discounts and cashback

Being yourself

Direct Line Group is an equal opportunity employer, and we think diversity of background and thinking is a big strength in our people. We're delighted to feature as one of the UK's Top 50 Inclusive Employers and are committed to making our business an inclusive place to work, where everyone can be themselves and succeed in their careers.

We know you're more than a CV, and the things that make you, you, are what bring potential to our business. We recognize and embrace people that work in different ways so if you need any adjustments to our recruitment process, please speak to the recruitment team who will be happy to support you.

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