Actuary

Royal London; City of Edinburgh; Hybrid; GBP 90,000 - 120,000; Full time

Job summary

Royal London is seeking an experienced Actuary to lead our Protection Commercial reinsurance activity from Edinburgh. Hybrid work model, permanent full-time 35 hours per week, reporting to Protection Commercial Lead.

You will manage reinsurance relationships, run tender processes, and deliver robust analyses and reports for the team and executives. The role requires FIA/FFA with life reinsurance experience, strong numeracy, and ability to collaborate effectively in a hybrid environment to drive

Qualifications

• FIA or FFA actuarial qualification.
• Experience at a reinsurer or within a life reinsurance team.
• Strong knowledge of life insurance and the reinsurance market.
• Excellent numeracy and problem-solving with attention to detail.
• Proficient in Excel and SQL.

Responsibilities

• Oversee regular reinsurance activity and timely resolution of reinsurer queries and MI.
• Lead reinsurance tender planning and negotiate optimal terms.
• Carry out financial analysis using actuarial techniques to support planning.
• Provide specialist interpretation of results to colleagues and senior managers.
• Write and present reports across the department and wider business.
• Identify and implement improvements to data, processes and documentation.

Skills

Numeracy

Attention to detail

Time management

Communication

Education

FIA/FFA

Tools

Excel

SQL

Job description

“It feels good to have a career with real purpose.”

Contract type: Permanent Full Time 35 hours per week
Location: Edinburgh

Working style: Hybrid 50% home/office based

We are looking for a talented, experienced Actuary to join our Protection Commercial Team and lead our reinsurance activity. Reporting to the Protection Commercials Lead, you will be responsible for maintaining strong relationships with our reinsurance partners, securing optimal reinsurance terms through tender negotiations and ensuring timely resolution of reinsurer queries.

This is an exciting opportunity to be part of a dynamic and supportive team that works together to deliver great outcomes for our customers, members and advisors.

.

About the role

• Responsible for managing regular reinsurance activity, including the oversight and timely resolution of reinsurer queries, provision of accurate MI and reviews of treaty and process documentation.
• Maintain strong reinsurer relationships, organise and lead reinsurance account meetings, including agenda planning and the preparation of engaging content.
• Develop and own a rolling reinsurance tender plan, using an understanding of claim experience trends to inform and influence the wider reinsurance strategy.
• Co-ordinate tender activity and lead the commercial analysis, negotiation and recommendation of the optimal reinsurance terms.
• Carry out financial analysis using complex actuarial and analytical techniques to support team, department or wider business planning and other activities as required.
• Provide specialist advice and interpretation of results to colleagues and senior managers across the department and the wider business.
• Challenge and make improvements to data, processes, procedures, and documentation to make them more accurate and/or efficient.
• Write and present reports to colleagues and senior managers across the department and the wider business.

About you

• Experienced Actuary (FIA or FFA) with excellent understanding of the actuarial concepts and techniques required to fulfil the role.
• Previous experience working at a reinsurer or as part of a reinsurance team at a life insurance office.
• Excellent understanding of life insurance business including competitors’ products and the reinsurance market.
• Highly numerate with excellent problem-solving skills and attention to detail.
• Excellent time management and organisation, with a genuine desire to take ownership of actions and work collaboratively in a hybrid working environment to drive results.
• Strong ability to communicate in a professional manner and build positive working relationships with colleagues and senior managers both across the business and externally.
• Motivated by working in financial services, insurance, protection and reinsurance, with a desire to make a positive impact.
• Good knowledge of using Microsoft Excel and SQL.

.

About Royal London

We’re the UK’s largest mutual life, pensions and investment company, offering protection, long-term savings and asset management products and services.

Our People Promise to our colleagues is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by our Spirit of Royal London values; Empowered, Trustworthy, Collaborate, Achieve.

We've always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance.

Inclusion, diversity and belonging

We’re an inclusive employer. We celebrate and value different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills which are recognised and respected – whatever their background.

Only candidates who have the legal right to work in the UK or Ireland can undertake this role.
Unfortunately, Royal London is unable to provide visa or work permit sponsorship.