Reinsurance Actuarial Analyst

Phoenix Group; Greater London; Hybrid; GBP 31,590 - 38,610; Full time

Benefits offered by this job

Private medical cover

38 days annual leave

Excellent pension

Career breaks

Income protection

Volunteering days

Job summary

Phoenix Group is seeking a motivated individual for an actuarial role. You will work on reinsurance reporting, data validation, and benefit analysis, with responsibilities including generating reports and ensuring accurate reinsurance arrangements. Applicants should have a strong numerical degree and an interest in actuarial exams. The position offers flexible working arrangements in either London or Edinburgh, along with competitive salary benefits. We're committed to diversity and welcome applicants from all backgrounds.

Qualifications

• A strong numerical degree with a minimum 2:1 classification.
• Demonstrated interest in pursuing actuarial exams to enhance technical expertise.
• Understanding of pension benefits and bulk annuity products.

Responsibilities

• Generate regular account and collateral reports.
• Check movement data from Trustees and perform reasonableness checks.
• Review annual data extracts to identify changes.

Skills

Strong numerical ability

Problem-solving

Interest in actuarial exams

Pension benefits understanding

Microsoft Excel

Education

Numerical degree (Mathematics)

Job description

Job Type: Permanent

Location: This role could be based in either our London or Edinburgh office working two days per week at home. We recognise the benefits of flexible working and will discuss what is important to you and balancing this with business requirements during the recruitment process.

Flexible working: All of our roles are open to part-time, job-share and other types of flexibility. We will discuss what is important to you and balancing this with business requirements during the recruitment process.

Salary and benefits: From £35,100 depending on experience plus bonus, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.

Who are we?

We’re Standard Life, a retirement specialist focused entirely on retirement savings and income. We champion the belief that everyone’s journey to and through retirement can be better, and for more than 200 years, we’ve been helping our customers plan and prepare for their financial futures.

Life today is increasingly complicated, uncertain and unpredictable. People move through different careers, face unexpected moments and navigate important choices. We offer our colleagues flexibility, trust and benefits that work for whatever life brings. In return we expect curiosity, connection, accountability and high standards. We make room for what matters—so you can bring your best, every day.

The role

This role provides valuable experience across reinsurance reporting, benefit analysis and data validation, helping ensure our reinsurance arrangements run accurately and efficiently. You’ll build strong technical and stakeholder skills while developing deep knowledge of pensions and bulk annuities. It’s an excellent foundation for someone aspiring to become an actuary, and we’re looking for someone who is motivated to progress toward qualification and committed to completing the actuarial exams.

Responsibilities

• Generate regular account and collateral reports using our integrated reinsurance administration system.
• Check movement data received from Trustees and perform reasonableness checks on final deliverables produced by the administration system.
• Review annual data extracts to identify changes from the previous year and determine whether an update is required to reinsurance data.
• Produce annual exercise materials—including premium amounts and surrender values—timely using the reinsurance administration system.
• Analyse benefit specification to determine the structure and timing of benefits payable under the reinsurance arrangement.
• Provide oversight of complex member benefit calculations and member options with administrators to build up benefit knowledge and understand reinsurance benefit simplifications.
• Test new arrangements as they are implemented onto the reinsurance administration system to ensure benefits operate as set out in the benefit specification.
• Follow robust processes set out in supporting documentation and highlight any opportunities for process improvement.
• Ensure all work produced is clearly documented and has a suitable audit trail and version control.
• Apply best practices with respect to the management of our reinsurance contracts.

What are we looking for?

• A strong numerical degree (e.g. Mathematics) with a minimum 2:1 classification.
• Demonstrated interest in pursuing actuarial exams to enhance technical expertise and pursue a career as an actuary.
• An understanding of pension benefits and bulk annuity products; contribution to creation of bespoke models is desirable.
• Proven ability to meet and exceed performance targets by monitoring progress, prioritising tasks, and applying structured problem‑solving methods to resolve obstacles and deliver business outcomes.
• Actively pursues professional development by identifying specific technical or role‑related skill gaps, completing relevant training or certifications, and applying new learning to improve job performance.
• Knowledge of Microsoft Office, specifically Excel.

We are committed to ensuring that everyone feels accepted and welcome. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you.

If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.