Life Actuary (Nearly/Newly Qualified)

Oliver James Group; Dorking; On-site; GBP 65,000 - 90,000; Full time

Job summary

Oliver James Group, partnering with a leading UK group protection provider, seeks an Actuarial Consultant for its Risk & Capital team. The role suits a nearly or newly qualified actuary with life insurance experience and strong technical skills in capital modelling, model calibration, assumptions, and experience analysis.

You will contribute to core risk and capital activities, perform detailed actuarial analysis, and support projects influencing capital position, risk assessment and product

Qualifications

• Nearly or newly qualified actuary with life insurance background.
• Experience with capital modelling, internal models, stress testing or calibration.
• Familiarity with Solvency II or Solvency UK.

Responsibilities

• Undertake internal model stress testing and calibration, analysing the impact on capital requirements.
• Support calibration of actuarial assumptions using data and experience analysis.
• Analyse demographic and economic experience and contribute to experience investigations and reporting.
• Produce technical analysis to support capital reporting, risk assessment and capital management initiatives.
• Review actuary students' work on internal models and provide guidance.
• Contribute to technical projects for new product development, including methodologies and setting assumptions.
• Support initiatives including Matching Adjustment and strategic partnerships on claims management.
• Collaborate across the actuarial function and develop students.

Skills

Life Insurance

Actuarial Science

Capital Modelling

Risk Management

Internal Models

Solvency II

Solvency UK

Actuarial Valuation

Assumption Setting

Experience Analysis

Stress Testing

Scenario Analysis

Sensitivity Analysis

Prophet

Statistical Modelling

GLMs

Python

R

Reserving

Reinsurance

Tools

Prophet

GLMs

Emblem

R

Python

Job description

The Opportunity

We are partnering with a leading UK group protection provider to recruit an Actuarial Consultant into its Risk & Capital team.

This role is suited to a nearly or newly qualified actuary with a life insurance background and strong technical skills, looking to develop their expertise across capital modelling, internal model calibration, assumption setting and experience analysis.

You will contribute to core risk and capital activities, undertaking detailed actuarial analysis and supporting projects that influence the business's capital position, risk assessment and product development. You'll work alongside experienced actuaries in a supportive environment that values technical expertise and professional development.

Key Responsibilities

• Undertake internal model stress testing and calibration, analysing the impact of different scenarios and assumptions on the business's capital requirements.

• Support the setting, review and calibration of actuarial assumptions, using relevant data and experience analysis to inform the assumptions adopted.

• Analyse demographic and economic experience, investigate emerging trends and contribute to experience investigations and reporting.

• Produce technical analysis to support capital reporting, risk assessment and wider capital management initiatives.

• Review actuarial students' work relating to internal models, providing technical guidance and helping ensure analytical outputs are robust and well supported.

• Contribute to technical projects supporting new product development, including developing methodologies, setting assumptions and analysing claims experience.

• Support wider business initiatives, including work relating to the Matching Adjustment for the claims portfolio and a strategic partnership focused on claims management.

• Work collaboratively with colleagues across the actuarial function, sharing technical knowledge and supporting the development of actuarial students

Requirements

• Nearly or newly qualified actuary, with no more than two to three exams remaining.

• Life insurance background with strong technical actuarial experience, particularly in assumption setting, experience analysis, modelling or valuation.

• Experience of capital modelling, internal models, stress testing or calibration.

• Familiarity with Prophet, GLMs, Emblem, R or similar modelling tools

• Knowledge of Solvency II or Solvency UK

• Must already have the right to work in the UK, as visa sponsorship is not available.

Why Consider This Opportunity?

You'll join an established actuarial team with significant technical expertise, a supportive culture and a strong commitment to career development. The role offers exposure to varied capital and risk projects, the opportunity to strengthen your technical specialism and the support of experienced actuaries invested in your progression.

If you're a technically strong nearly or newly qualified life actuary looking to develop your career in Risk & Capital, we'd welcome a conversation.

Desired Skills and Experience

• Life Insurance
• Actuarial Science
• Capital Modelling
• Risk Management
• Internal Models
• Solvency II
• Solvency UK
• Actuarial Valuation
• Assumption Setting
• Experience Analysis
• Stress Testing
• Scenario Analysis
• Sensitivity Analysis
• Prophet
• Statistical Modelling
• GLMs
• Python
• R
• Reserving
• Reinsurance