Credit Risk and Investment Consultant

Job summary Do you want a career with a difference? Where you can have a real impact working with government departments and the wider public sector. If yes, then a career at the Government Actuary's Department (GAD) could be for you. At GAD our mission is to support effective decision-making and robust reporting within the public sector as the first-choice provider of actuarial and specialist analysis, advice and assurance.

The department’s work covers valuation work and policy support in relation to investment, credit risk, insurance and contingent liabilities, pension schemes, financial risk, and social security. We also provide financial modelling and quality assurance. We offer great working benefits including a world-class pension, flexible working options and a career where your learning and development is taken seriously.

You will be a key consultant advising on investment and/or credit risk. The purpose of the role is to support our engagement and delivery of advice to help the public sector make more effective and informed decisions. The work is significantly more varied than in a typical actuarial consultancy, with opportunities to work on high-profile public sector priorities and develop innovative solutions. Further information on GAD is provided in the attached pack.

N.B. GAD may work with recruiters on this campaign provided prior agreement is reached for this specific campaign Job description The role is in our Policy and Assurance unit. You will be based in one of the teams in that unit although we would expect you to support other teams and undertake a wider variety of work as required (see Key responsibilities 5). Below sets out the range of work that GAD undertakes with respect to Investment and Credit Risk.

There is scope for consultants at GAD to specialise in one area, or to work across multiple areas. Investment GAD provides advice in relation to invested funds held or sponsored by public sector bodies, and on government policy relating to investments held in the private sector, often in the context of pension arrangements. We are looking to hire an investment specialist to work alongside actuaries, trainee actuaries and analysts to enhance the support we can provide to our clients on investment issues.

GAD consultants regularly work in a much more diverse range of areas than a typical actuarial consultancy, working closely with both policy makers and operational staff to deliver effective public policy. The work is varied, interesting and has purpose, working in the best interests of the UK public. Recent projects have included: DB and DC pensions – advice in relation to funded public sector Defined Benefit (DB) pension scheme investments, public sector bodies’ Defined Contribution (DC) and Additional Voluntary Contribution (AVC) arrangements and wider pensions policy.

Sizewell C – working with the Department for Energy Security and Net Zero and stakeholders to develop the funding and investment framework for a fund that will eventually be used to decommission the Sizewell C infrastructure. Pensions Investment Review – advising the Department for Work and Pensions on its productive finance agenda and how defined contribution pensions can contribute. Climate scenario analysis – setting assumptions and carrying out analysis of investment portfolios for funded public sector pension schemes to comply with Taskforce for Climate Related Financial Disclosures (TCFD) reporting.

Personal Injury Discount Rate – supporting government bodies as they review the rate of return that a personal injury claimant is assumed to earn if investing their damages award. Credit Risk GAD provides advice and support to a range of departments and wider public sector bodies on credit risk arrangements and modelling. These arrangements can arise from situations where government addresses gaps in private sector coverage, is trying to stimulate investment or is otherwise subject to credit risk.

The type of credit risk modelling is v