Actuary

Lorien; Greater London; Hybrid; GBP 95,000 - 120,000; Full time

Benefits offered by this job

Hybrid work pattern

Job summary

Lorien is seeking an experienced actuary in London with strong pensions, life insurance and longevity reinsurance expertise. The role focuses on complex reinsurance administration, cashflow modelling and governance across DB schemes. Hybrid work entails 2 days on-site and umbrella engagement through an agency.

Ideal candidate has 5+ years, hands-on modelling ability, and strong commercial acumen to partner with Technology/Data teams and stakeholders.

Qualifications

• 5+ years' experience in pensions, life insurance and/or longevity reinsurance.
• In-depth knowledge of Defined Benefit (DB) pension schemes and interpretation of scheme rules.
• Strong experience building actuarial cashflow projection models in Excel.

Responsibilities

• Complete detailed reinsurance reconciliations, ensuring administration aligns with underlying treaty terms.
• Reconcile inception data, claims and premium projections, movements and lump-sum settlements.
• Assess and implement reconciliation impacts on collateral calculations and produce clear management reporting.
• Design and maintain sophisticated Excel cashflow models covering premiums, claims, lump sums and collateral valuations.
• Ensure historic actuarial basis reviews have been implemented accurately.
• Act as a key escalation point for dispute resolution, investigating issues and facilitating timely outcomes.
• Establish robust modelling processes, documentation, audit trails and version controls to support governance and risk management.
• Work with Technology, Data and Architecture teams to design and develop centralised reinsurance treaty administration capabilities.
• Configure, test and validate reinsurance arrangements, including calculations, cashflows, collateral mechanics and contractual benefits.
• Develop and test end‑to‑end data feeds, ensuring data accuracy, completeness and auditability.

Skills

Reinsurance reconciliations

DB pension schemes

Pensions and life insurance knowledge

Stakeholder communication

Data collaboration

Tools

Excel

Job description

Lorien's leading Pensions and Investment client is looking for an experienced Actuary with strong expertise across pensions, life insurance and/or longevity reinsurance to support complex reinsurance administration, reconciliation and actuarial modelling activities.

The successful candidate will combine strong actuarial and commercial knowledge with hands‑on experience of DB pension schemes, cashflow modelling and pension de‑risking solutions. The role will also work closely with Technology and Data teams to enhance reinsurance systems, data processes and controls.

The Ideal candidate has strong hands‑on experience working with DB Pension Schemes, and Cash Flow Modelling.

This role is working in a Hyrid Model of 2 days a week at a local site.

This role will be Via Umbrella.

Key Responsibilities

• Complete detailed reinsurance reconciliations, ensuring administration aligns with underlying treaty terms.
• Reconcile inception data, claims and premium projections, movements and lump-sum settlements.
• Assess and implement reconciliation impacts on collateral calculations and produce clear management reporting.
• Design and maintain sophisticated Excel cashflow models covering premiums, claims, lump sums and collateral valuations.
• Ensure historic actuarial basis reviews have been implemented accurately.
• Act as a key escalation point for dispute resolution, investigating issues and facilitating timely outcomes.
• Establish robust modelling processes, documentation, audit trails and version controls to support governance and risk management.
• Work with Technology, Data and Architecture teams to design and develop centralised reinsurance treaty administration capabilities.
• Configure, test and validate reinsurance arrangements, including calculations, cashflows, collateral mechanics and contractual benefits.
• Develop and test end‑to‑end data feeds, ensuring data accuracy, completeness and auditability.

Experience & Skills

• 5+ years' experience within pensions, life insurance and/or longevity reinsurance.
• Extensive experience completing reinsurance reconciliations.
• In-depth knowledge of Defined Benefit (DB) pension schemes and interpretation of scheme rules.
• Strong knowledge of benefit calculations including GMP, revaluation, increases in payment and early/late retirement adjustments.
• Strong experience building actuarial cashflow projection models in Excel.
• Good understanding of reinsurance treaties, premiums, claims and collateral calculations.
• Strong analytical, reconciliation and problem‑solving capability.
• Ability to communicate complex actuarial issues clearly to both technical and non‑technical stakeholders.
• Experience working with Technology/Data teams on systems, data feeds, testing or reinsurance administration solutions.
• Commercial knowledge of pension de‑risking products, including bulk annuities and longevity swaps, is highly desirable.