Aviva UK now have an opening for a Credit Rating Manager within our Credit Rating Methodology team. Reporting in to our Rating Methodology Oversight Senior Manager, the position supports annuity asset origination requirements, largely new asset classes e.g., Infrastructure & Structured Finance, linked to increased asset origination activity. This role-holder will work closely with a range of colleagues from our Annuity Asset Origination, Chief Investment Officer and Aviva Investor teams.

We see the role is an excellent development opportunity that would build on a proven credit analysis and project management skill set. It requires someone who is organised, enjoys taking initiative and ready to provide support to new challenges and demands of a growing business.

A key driver for our success is the annuity business. Aviva is a central player in both the individual and bulk annuity markets, with much of the growth in new business volumes coming from bulk purchase annuities (BPAs). As a result, we’re building out our internal credit rating and governance team to support with assets that require a credit rating, and hence an associated credit rating methodology. These credit ratings are used as a tool to manage credit risk and directly feed through to the matching adjustment calculation for Aviva’s c£70bn annuity portfolio, a key part of Aviva’s future strategy. As such, this position will allow for the opportunity to look at new asset classes and provide tailored rating methodologies from scratch with a team that is evolving as the work evolves in exciting ways.

Aviva uses “smart-working”, and the person in this role can be based anywhere in the UK, as long as they are comfortable with regular travel to our York, Bristol or London offices.

The role’s duties & responsibilities

Assessment and development of new and existing internal credit methodologies, to ensure they remain aligned with our Credit Rating Policy and all relevant regulatory requirements. Responsibilities will include:

• Undertaking regular reviews of existing methodologies, including appropriate assurance testing, to evidence ongoing compliance

• Engaging with and presenting output of reviews to expert judgement panels and key forums/committees who are formed to support the discharge of our Chief Actuary’s responsibilities

• Deep dive reviews as proposed by the Life Actuarial Reserving Lead and senior management - providing assurance that operational controls and governance arrangements are working effectively, recommending actions to address and mitigate gaps

• Deputising for the Rating Methodology Oversight Senior Manager as the need arises

Skills & experiences required:

• Proven understanding of credit rating methodologies across several types of assets

• Robust knowledge of credit analysis fundamentals

• Experience working in Corporate credit within an asset manager, rating agency, investment or financial institution

• Technical background – knowledge of the main features of more sophisticated rating methods (i.e. those typically based on internal custom models)

• Mentality to challenge more expert colleagues on whether the complexity is justified, learning more about custom UK Life models as the role develops

What will you get for this role?

• A competitive salary depending on location, skills, experience and qualifications

• Generous defined contribution pension scheme

• Annual performance related bonus and pay review

• Holiday allowance of 29 days plus bank holidays and the option to buy/sell up to 5 additional days

• Up to 40% discount for some Aviva products through “My Aviva Extras” plus discounts for Friends and Family (some exclusions apply)

• Excellent range of flexible benefits to include a matching share save scheme

Working at Aviva

At Aviva, we’re people with a purpose. To be with you today, for a better tomorrow.

We bring this to life by ensuring managing risk is at the heart of the way we all work. We love people who do the right thing for our customers, and our colleagues. We want people who speak up, who take ownership, and who make good decisions.

The way we do this is important too, we’re all about our people – that’s you – so we can be pretty flexible. If you want to work from home some of the time or change your hours so you can pick up your kids or care for someone in your family, we’re very open to that. In fact, we don’t advertise roles as either part or full time, because we know each person has different needs, just as each business area has different needs. So, it’s up to you to discuss working hours during your interview.

We care deeply about being inclusive and that means we encourage applications from people with diverse backgrounds and experiences. We want our employees to bring their whole self to work and that starts with you.

We interview every disabled applicant* that meets the minimum criteria for the job. Once you’ve applied, please send us a separate email stating that you have a disclosed disability and we’ll make sure we interview you.

We’d love it if you could submit your application online. If you require an alternative method of applying, please give Daniel Hopchet a call on 0121 234 7625 or send an email to Daniel.Hopchet@Aviva.com.

*As defined in The Equality Act 2010*. By ‘minimum criteria’ we mean you should provide us with evidence which demonstrates that you generally meet the level of competence required and have the qualifications, skills or experience defined as essential to perform the role.