Head of WP Strategy – 27899

TN United Kingdom; City of Edinburgh; On-site; GBP 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a qualified actuary to lead the development of a comprehensive With Profits strategy. This role involves collaboration with various teams to ensure alignment with company goals and compliance with regulations. The ideal candidate will have a strong understanding of the UK life insurance industry and experience with profits products. This is a unique opportunity to shape the future of the With Profits fund and deliver excellent customer outcomes in a dynamic environment.

Qualifications

• Qualified actuary with expertise in with profits products.
• Strong understanding of UK life insurance industry.

Responsibilities

• Lead development of integrated With Profits strategy.
• Collaborate on risk-sharing model for new products.
• Ensure compliance with WP Strategy and regulations.

Skills

Actuarial expertise

Knowledge of with profits rules

Understanding of UK life insurance

Education

Qualified actuary

Job description

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Key Duties (including but not limited to):

1. Lead the development of a clear medium to long-term integrated With Profits strategy aligned with the Company’s overall strategy. Ensure all initiatives impacting or growing the With Profits fund are aligned with this strategy, with clear change and development plans, prioritization, and execution support. Consider customer impact, processes, and people to deliver good customer outcomes and meet WPF requirements. Ensure all costs charged to the WPF are appropriate.
2. Collaborate with the Company’s propositions, pricing, and WPA teams to develop and articulate principles for the risk-sharing model between shareholders and the WPF for new products. Expect these principles to evolve as new products are developed.
3. Work with the Directors of Propositions to ensure all new product developments comply with the agreed WP Strategy and requirements, including relevant rules, regulations, and the Finance and WPA frameworks for managing the Fund.

Qualifications required:

• Qualified actuary

Experience required:

• Experience with profits products and knowledge of with profits rules and regulations is essential.
• Strong understanding of the UK life insurance industry, both technically and commercially.
• Knowledge and experience of international life insurance markets are beneficial but not essential.