The two roles:

Credit Risk Framework Management: to be responsible for the design of the controls around a

£80 billion credit risk book of assets, determining concentration limits and credit risk appetite.

Risk Oversight of the investment and market risk management of all of Aviva’s Life insurance activity with a particular focus on the growing Annuity market.

The team plays a pivotal role across the UK Life business in supporting first line management to understand, assess and manage key risks and controls, to help create better business decisions.

Both roles report to the Head of Investment Risk Oversight, you’ll be reviewing and challenging Finance’s management of exposure to all types of financial and investment risk i.e., market, credit, liquidity, including their approach to risk identification and measuring risk impacts. You’ll be helping to ensure that first line are managing these risks in accordance with stated policies and Board approved risk appetite measures. 

You’ll be involved in researching initiatives and change that help to mitigate financial risks in a number of complex areas, including the rapidly growing Bulk Purchase Annuity business. In so doing you’ll be reviewing the approach to asset and liability management of £billions of insurances and investment activity and you’ll be involved in oversighting the risk management of innovative annuity propositional activity.   

Your role is to provide Risk’s independent opinion of the risk exposures, investment decisions and strategy, helping to advise the business on how best to manage and mitigate these exposures and also ensure that out-sourced fund managers are managing UKL investment risk effectively and with best practice.

Essential Knowledge and Skills for both roles:

• Qualified Actuary/ Accountant or qualified through suitable experience

• A full knowledge and understanding of credit and market risk principles and methodology relevant to the Life business

• A good understanding of the workings of the financial markets

• Highly numerate and analytical with a developed capability to interpret data and establish alternatives and solutions to complex problems

• Knowledge of the company’s products, organisation and structures and an ability to contribute in a fluid and matrix style team structure

• A knowledge of statutory, legal and regulatory frameworks, risk management and corporate governance

• A high impact individual, who provides confident and credible challenge to senior stakeholders within the business including the SBUs and, the finance reporting/ financial management teams

• Inquisitive and a proactive nature not willing to rest until issues are resolved

• Ability and drive to quickly acquire a deep understanding of the strategies, plans and performance in the relevant areas of Aviva UK Life finance

• Ability to present complex information in a straightforward and clear manner facilitating the right actions and responses

• Ability to work under pressure and to deadlines and an energy, drive and a ‘can do’ attitude

• Specifically for the credit risk framework role, Experience of the methodology used in setting credit risk appetite and concentration limits in an area of significant and complex credit risk exposure.

• Specifically for the Investment and market risk role; Experience of ALM and financial risk mitigation in a significant Life Insurance annuity business

What will you get for this role?

• Salary between £75,000 - £100,000 depending on 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 Guv Johal a call on 0750 008 7919 or send an email to Guv.Johal@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.