Senior Actuary- Retail Actuarial & Reinsurance
Date Posted: 01/05/2024
Location: London
Job Type: Full time
Apply NowSenior Actuary- Retail Actuarial & Reinsurance
London – Hybrid (2 days a week)
We have an exciting opportunity for a Senior Actuary to join the newly formed Retail Actuarial & Reinsurance (RAR) team at Just. As a Senior Actuary, you will manage the reinsurance of all Retail products, and support the pricing of all Retail products, including providing expertise in the review and modelling of all technical aspects of those products and their reinsurance.
Reporting into the Retail Actuarial & Reinsurance Director, you will lead Retail Reinsurance function work, including the evolution & implementation of reinsurance strategy, the development of tools & MI and liaising with internal an& external stakeholders to progress initiatives. You will also form part of the RAR leadership team and support or lead Pricing work where appropriate
Key Responsibilities:
Develop and maintain tools and models to evaluate the attractiveness and effectiveness of existing and potential reinsurance arrangements for Retail products
Perform regular analyses of the costs and benefits of Retail’s reinsurance arrangements.
Ensure data exchanged with reinsurers of Retail products is accurate, timely and secure
Ensure reinsurance treaty terms are well understood and accurately reflected in pricing, administration and valuation calculations and reports
Support the Retail Actuarial & Reinsurance Director in, or lead where appropriate, negotiating, documenting and executing reinsurance arrangements to support business development, manage risk and optimise capital efficiency.
Maintain close relationships with related departments to ensure a consistent understanding of financial metrics and impacts across pricing, reinsurance, valuation and capital management
Explore solutions to optimise risk and capital management; liaising closely with Group Actuarial function and CM&I teams.
Collaborate with the Head of Retail Pricing to support or lead Pricing work, including the review and modelling of technical aspects of the pricing of Retail products, the development of metrics to employ in the assessment of Retail products and the development and maintenance of pricing systems and models
Collaborate with other members of Retail Actuarial & Reinsurance leadership on wider team projects, initiatives and ensuring work is resourced across the function effectively
Skills and Experience:
Qualified FIA, FFA or equivalent
Degree in a mathematical subject, or equivalent
Proven experience as Senior Actuary in the UK life /annuity industry
Experience in managing or mentoring junior team members
Experience in drafting & reviewing technical documents
Experience in working with longevity swaps and/or full quota share reinsurance for annuity business advantageous.
Understanding of the industry and market
Ability to maintain competence and up to date knowledge
Strong analytical and modelling skills
Ability to lead and influence others
Excellent IT skills, particularly in Excel / VBA, with Python / other coding experience advantageous
Company Benefits
A Competitive Salary, Pension Scheme and Life Assurance
Along with 25 Days Annual Leave plus an Additional Day on us for your Birthday
Private Medical Cover and Income Protection, just in case
A generous and highly achievable bonus scheme – paid annually based on individual and company performance against targets
Opportunity to progress within your career both in-role and within the company
FREE access to the Headspace App, a 24/7 Employee Assistance Helpline and Trained Physical & Mental Health First Aiders (On-Site)
A variety of Employee Funded Benefits available to you via our Online Benefits Portal
Plus, several additional purchase options available for you and your loved one