Job Description

Job Type:

Permanent

Location:

This role could be based in either our London, Birmingham or Edinburgh offices with time spent working in the office and at home.

Flexible working:

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.

Closing Date:

12.6.25

Salary and benefits

: Up to 180,000 dependant upon experience, plus indicative bonus potential of 30-60%, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.

What are we looking for?

Key responsibilities

Support the Financial Risk Director through leading the oversight of the Group's Balance Sheets (Group and all UK legal entities) and delivery of the company's long-term financial strategy, providing Line 2 advice, guidance and challenge to the business. The individual is expected to work independently with minimal managerial oversight.


The key areas within the oversight scope of this role are: Capital management and solvency; liquidity management; Solvency UK, UK GAAP and IFRS 17 Balance Sheets; Asset Liability Management including hedging, Matching Adjustment; and Financial Risks from Climate Change. The team also provides input into the ORSA and Recovery and Resolution Plans.


Responsibilities include supporting the risk partnering through influencing the business to take ownership of risk management and providing advice and guidance on how risk management can be improved to support delivery of business outcomes. The individual should work with the business to ensure that material decisions appropriately consider key risks and trade-offs, and that that material risks have been properly identified and managed in line with Phoenix's risk appetite. Line 2 opinions should consider the Group's strategic objectives and consider the balance of commercial and risk implications. The individual should ensure both internal and external factors in assessing the forward looking risk profile of the Group as it relates to areas within scope of the Balance Sheet & ALM Oversight team.


A key focus of the role is fostering a collaborative work environment, helping the business navigate complex challenges and support finding commercial solutions. As such, the individual is expected to act as an escalation point for resolution of complex issues or decisions. A critical elements of the role is to communicate complex financial concepts simply and concisely to stakeholders (both financial and non-financial).


The role is responsible for defining, implementing and maintaining an effective and efficient risk oversight model, including providing clarity on the Line 2 activities in line with the three Lines of Defence Model. A key part of the role is ensuring the risk management frameworks and appetites remain appropriate, and that appropriate risk identification, measurement, management and MI and reporting is in place in the business, to allow for the ongoing monitoring of risk exposure against appetite.


The individual leads the Balance Sheet & ALM Oversight team, developing a high-performing team that consistently exceeds expectations through strong communication, trust and accountability, business and team focus, outcome oriented goals, clear expectations and active management. Defining, prioritising and ensuring delivery of medium to long-term team priorities, ensuring delivery is efficient and meets budgetary, time and quality targets whilst maintaining effective oversight.


The individual should be active in the industry and external Risk community

Essential

In-depth understanding of life insurance products (in particular BPA and annuities), regulatory frameworks (Solvency UK, IFRS 17, UK GAAP), and balance sheet management principles - including understanding best market practice in key areas of oversight. Deep experience in the core technical areas of the role (i.e. balance sheet modelling and analysis, solvency & liquidity analysis, asset-liability management, Matching Adjustment and climate financial risks). Extensive experience in effective and efficient financial risk oversight (including developing risk frameworks and setting risk appetite), focusing on material risks, helping the business find solutions to strategic financial risk challenges through balancing commercial outcomes and risk considerations. Experience in leading a medium to large team, with proven ability in developing a high-performing team Proven ability in bringing teams together and leading delivery of enterprise-wide change in a large, complex organisation Excellent verbal and written communications, with ability to communicate complex financial concepts simply and concisely
Excellent verbal and written communications, with ability to communicate complex financial concepts simply and concisely

Who are we?

We want to be the best place that any of our 6,600 colleagues have ever worked.




We're the UK's largest long-term savings and retirement business. We offer a range of products across our market-leading brands, Standard Life, SunLife, 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.

We want to hire the whole version of you.

We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we've advertised and you believe that you can bring value to the role, we'd love to hear from you.


If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.


Please note that we reserve the right to remove adverts earlier than the advertised closing date. We encourage you to apply at the earliest opportunity.

Find out more about #LifeAtPhoenix

Guide for Candidates: thephoenixgroup.pagetiger.com/guideforcandidates Find or get answers from our colleagues: www.thephoenixgroup.com/careers/talk-to-us
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