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Application closing date: 6 July

The Finance and Investment Research Sub-committee is seeking to appoint both members and suitably experienced non-members to join the Private Credit Working Party.

There is an increasing interest in private credit investments for insurance companies and pensions schemes. The working party is looking for actuaries and professionals with an interest in private credit to join the group. The goal is to contribute to thought leadership on topics that would be of potential interest to actuaries and professionals in the private credit space. 

Potential areas of research include:

• credit rating transition, default and recovery rate modelling for different asset classes such as infrastructure debt, CMLs/RMLs, and CLOs and CDOs
• illiquidity premium: historic analysis as to whether it is simply credit spread masquerading as something more innocuous
• global regulatory treatment of private credit (literature review of sorts to facilitate elucidation of divergences and implications)
• calibration of private credit for Solvency UK (matching adjustment, solvency capital requirement and matching adjustment in stress) 
• appropriateness of private credit as an investment vehicle for different purposes, pension funds, life insurance, etc
• private credit as a driver of sustainability

Read terms of reference (PDF, 200 KB)

Time commitment

The time commitment varies but will not be more than a maximum of 2 hours per month. The working group will meet every two weeks with more regular meeting as required.

Next steps

If you are interested in this role and would like an informal conversation before applying, please email us at engagement.team@actuaries.org.uk.

If you have read all the above and would like to apply, please send us:

• brief details of your relevant experience
• your reasons for wishing to get involved
• your ARN (if you are a member)
• a brief copy of your CV and full contact details (if you are a non-member)
• confirmation that you have read, understood, and agree to the information and requirements laid out in our volunteer information pack (please be aware that until we have received this confirmation, we will not be able to appoint you as a volunteer)

Please email all the above to engagement.team@actuaries.org.uk. Please note, we are unable to accept late applications.

We are committed to promoting diversity, equality of opportunity, and inclusion, within all our vacancies and we actively encourage applications from a diverse range of potential candidates. Recognising and embracing the unique and diverse talents of our volunteers is fundamental to the success of our organisation.

What you need to know

Volunteering provides you with a wide range of opportunities. With all rights and opportunities come responsibilities and we ask all our volunteers to comply with the terms of the IFoA’s governance manual and volunteer information pack. Before offering to provide support, please read through: what you need to know.