ALM Manager (Actuarial)

The Actuary; City of London; Hybrid; GBP 70,000 - 90,000; Full time

Job summary

A leading financial services group in London is seeking an experienced ALM Manager to oversee and manage financial risks across multiple divisions. This role requires a strong understanding of Solvency II and the ability to communicate complex risk scenarios to senior stakeholders. The ideal candidate will have post-qualification experience in a relevant field and comfort with data analysis tools. The position offers a hybrid work model, requiring 2 days per week in the office.

Qualifications

• A few years’ post-qualification experience in actuarial, investment or accounting backgrounds.
• Strong understanding of Solvency II balance sheet mechanics.
• Good knowledge of investments, derivatives and hedging.
• Ability to interpret market moves under IFRS and liquidity metrics.
• Comfortable working with data and code-based tools.

Responsibilities

• Align different parts of the organisation on managing financial risks.
• Identify optimisation opportunities across the balance sheet.
• Develop and embed risk frameworks at group level.
• Produce high-quality MI for senior leadership.
• Support improvements to processes and models.

Skills

Technical analysis

Commercial thinking

Communication skills

Data interpretation

Stakeholder engagement

Education

Post-qualification experience in actuarial, investment or accounting

Tools

Excel

Python

R

Job description

ALM Manager - Group-Level Financial Risk

Helping shape balance‑sheet strategy across a major UK financial services group

We're working with a large, well-established financial services group that’s looking for an ALM Manager to join its central team. This team sits at the heart of the business, overseeing financial risk across multiple divisions – from retirement and investment management to retail businesses. If you enjoy the mix of technical analysis, commercial thinking and senior‑stakeholder conversations, this is very much that kind of role.

What the role actually involves day‑to‑day

You'll be part of a small, high‑impact team that makes sure different parts of the organisation are aligned on how they manage interest rate, inflation, currency, credit and equity risks. That includes:

• Working closely with business units to understand their market‑risk exposures under Solvency II, IFRS and liquidity metrics
• Spotting inefficiencies or optimisation opportunities across the balance sheet
• Helping develop and embed ALM and investment‑risk frameworks at group level
• Connecting macroeconomic views to ALM strategy – e.g., scenario ideas, rebalancing opportunities, downside protection, value‑enhancement
• Producing concise, high‑quality MI for senior leadership and board‑level committees
• Working with the Group Treasury and Group Risk teams to ensure proposals are well‑challenged, well‑understood and aligned with wider risk appetite
• Supporting improvements to processes, models and tooling – there’s an appetite for smarter, more automated ways of working

A lot of the impact here comes from how well you communicate complex risk in a simple, credible way. This is not about being the most technical quant in the room – it’s about being able to break down a problem, prototype an idea (often in Excel first), and explain it clearly to senior decision‑makers.

Who will suit this role

They're looking for someone who is bright, dynamic and comfortable moving between technical detail and bigger‑picture thinking. You'll likely have:

• A few years’ post‑qualification experience (actuarial, investment or accounting backgrounds all work)
• A strong understanding of Solvency II balance sheet mechanics (particularly Matching Adjustment and capital requirements)
• Good knowledge of investments, derivatives and hedging
• The ability to interpret market moves and understand how they flow through IFRS, Solvency II and liquidity metrics
• Comfortable working with data and code‑based tools (Python/R a bonus)
• Confidence engaging with senior stakeholders
• Cannot support visa sponsorship

Team & working style

You'd be the third direct report to the hiring manager, joining a small team with a reputation for being sharp, collaborative and genuinely dynamic. Hybrid working: 2 days per week in the London office.