Capital Actuary

Tesco Insurance & Money Services; Reigate; Hybrid; GBP 80,000 - 100,000; Full time

Job summary

A leading insurance provider in Reigate is seeking a Capital Actuary to support capital modelling for its insurance portfolio. The role requires proven capital modelling experience and involves ensuring regulatory compliance, mentoring team members, and collaborating with leadership. This hybrid role offers competitive compensation and a supportive work environment focused on inclusivity and professional growth.

Benefits

Pension scheme

Private healthcare

Performance related annual bonus

Generous holiday allowance

Colleague Clubcard with discounts

Green Car Leasing Scheme

Enhanced maternity leave pay

Paternity leave

Share schemes

Qualifications

• Degree or equivalent in mathematics or related discipline.
• Qualified Actuary or completion of CT exams is essential.
• Knowledge of Solvency 2 and PRA compliance requirements.

Responsibilities

• Ensure regulatory compliance in actuarial modelling.
• Support Finance Director and Chief Actuary with PRA compliance.
• Conduct capital modelling for regulatory requirements.
• Assist actuarial teams in financial modelling activities.
• Provide mentoring and guidance to the actuarial team.

Skills

Team collaboration

Capital modelling experience

Attention to detail

Education

Degree in mathematics or related field

Qualified or Nearly Qualified Actuary

Tools

Remetrica

Igloo

Job description

Overview

Tesco Insurance • Reigate • Apply by 19-Sep-2025

Serving our customers, communities, and planet a little better every day.

Salary - From £75,000 + annual bonus & benefits
Work Level - 2
Permanent role
Location - Reigate
Office Attendance - Our roles are hybrid; you need to travel to our Reigate office 2 days per week for this role.
Closing Date for applications - 19th September 2025 at 5pm.

We deal in the personal - from pet insurance for your best friend, and home insurance for peace of mind, to motor insurance for your dream car or travel money for that trip you’ve worked hard for. And that means we always work with heart. Whether we’re helping our customers or looking after our people, you’ll find there’s a warmth and friendliness to everything we do.

Opportunity

We’re recruiting a Capital Actuary in Tesco Underwriting to provide support with capital modelling of our insurance portfolio. Proven capital modelling experience is essential to be successful in this Capital Actuary role. We’re looking for a great team player who also has a keen eye for detail and ability to work independently.

The Role

• Ensuring regulatory compliance in relation to actuarial modelling.
• Supporting the Finance Director / Chief Actuary in ensuring wider PRA compliance in respect of the wider regulatory framework.
• Undertaking capital modelling to identify the level of capital required and support ORSA, Solvency II and other economic capital requirements.
• Assisting the Actuarial and Finance teams financial modelling, planning and forecasting activities; particularly in relation to capital metrics and the causes of movement between planned, forecast and actual results.
• Providing mentoring and coaching support to the actuarial team, providing technical advice and guidance and embedding a learning culture.
• Working with the Senior Capital Actuary and Chief Actuary, reviewing and evaluating actuarial policies to ensure they meet the needs of our business.

Qualifications (min exp)

• Degree or equivalent qualification or experience in mathematics or a suitably related discipline.
• Qualified or Nearly Qualified Actuary (Completion of CT exams or equivalent is essential).
• Knowledge of Remetrica / Igloo is advantageous.
• Proven ability to work as part of a team; fostering positive relationships and providing mutual support and guidance.
• Knowledge of Solvency 2 and Prudential Regulation Authority (PRA) regulatory framework and compliance/governance requirements.

What's in it for you?

• Prepare for your retirement with our colleague pension scheme.
• Private Healthcare & Virtual GP Service for you and your family 365 days a year.
• Performance related annual bonus.
• Generous holiday allowance with a minimum of 7.2 weeks, with the opportunity to buy more.
• Colleague Clubcard with 10% discount increasing to 15% every payday (worth up to £2K). A second card is provided to share with someone else.
• Green Car Leasing Scheme.
• Critical Illness cover.
• Family-oriented initiatives, including enhanced maternity leave pay, a shared parental leave policy, and a generous 8-week paid paternity leave.
• Buy as you Earn and Save as you Earn share schemes.

Everyone's welcome

We want all our colleagues to always feel welcome and be themselves. We are committed to building a more inclusive workplace and celebrating diversity, which enhances our ability to serve customers, communities and the planet.

Additional Information

We know the importance of balancing work with life’s other commitments. Please talk to us at interview about the flexibility you need, as we’re committed to exploring part-time and flexible working opportunities at every level of the organisation.

Interviews

Commencing September 2025.

Why Tesco Insurance and Money Services?

Seeing your impact all around you is rewarding. We’re helping colleagues and serving customers, communities and the planet a little better every day.

We deal in the personal - from pet insurance for your best friend, and home insurance for peace of mind, to motor insurance for your dream car or travel money for that trip you’ve worked hard for. Everything we do is about making things better, for others and for you. You’ll get plenty of development, a voice, and balanced work life. You’ll feel welcome wherever you are.

Our story

Making Insurance and Money Services more rewarding and offering great value and choice. We began life in 1997 and now help more than 2 million customers protect what matters to them.

How to apply

We value our people and diverse teams. Our colleagues work in hybrid arrangements, with in-person meetings in offices as needed for moments that matter. If you’re interested in a career at Tesco Insurance and Money Services, click apply to find out more.