Reinsurance Actuary

Starr Underwriting; London; On-site; GBP 55,000 - 80,000; Full time

Job summary

A leading UK retirement and savings provider is seeking a Reinsurance Actuary for their London office. This permanent position offers flexible working options, a competitive salary up to £80,000, and a range of benefits including bonuses, medical cover, and annual leave. You will support reinsurance operations and ensure accuracy in processes while developing robust documentation and training materials.

Benefits

Private medical cover

38 days annual leave

Excellent pension

Income protection

Volunteering days

Qualifications

• Experience in the pension or life specialism.
• Ability to understand and learn reinsurance platform workings.
• Understanding of longevity reinsurance space.

Responsibilities

• Review technical accuracy of Reinsurance Settlement reports.
• Develop bespoke excel modelling tools.
• Ensure new contracts are operationally viable.

Skills

Strong experience in pensions and life reinsurance

Technical knowledge of reinsurance platforms

Ability to build stakeholder relationships

Attention to detail

Commercial knowledge of pension de-risking products

Education

Newly Qualified / Qualified Actuary

Tools

Excel

Job description

Job Description

We have an incredible opportunity to join us here at Phoenix Group as a Reinsurance Actuary to join our Annuity Client Services team.

Job Type: Permanent

Location and flexible working: 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. You can read more about Phoenix Flex here.

Salary and benefits: £55,100 - £80,000 depending on experience plus 16% bonus up to 32%, 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 want to be the best place that any of our 6,600 colleagues have ever worked.

We’re Phoenix Group, we’re a long-term savings and retirement business. We offer a range of products across our market-leading brands, Standard Life, SunLife, Phoenix Life and ReAssure. Around 1 in 5 people in the UK has a pension with us. We’re a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we’re not done yet.

The role

Working closely with the Actuarial Operations Lead, you will support many aspects of the overall reinsurance operations journey, the role would fit somebody looking for a challenge and has experience in ensuring reinsurance arrangements are administered efficiently and accurately.

Key Responsibilities Will Include

• Responsible for reviewing the technical accuracy of Reinsurance Settlement reports and Collateral Valuations covering a number of longevity based products.
• Responsible for reviewing annual cleanse materials, including data changes, premium calculations and surrender amounts, ensuring technical accuracy throughout.
• Developing bespoke excel modelling tools to validate onboarding and accuracy of ongoing materials produced by strategic reinsurance platform.
• Reviewing reconciliation of premiums and claims on legacy reinsurance arrangements, drafting reports setting out the results of the reconciliation and recommendations for all stakeholders
• Development of clear, efficient and robust processes to be used by the wider team. Responsible for continuous improvement of these processes to ensure they remain appropriate.
• Responsible for working with the New Business Reinsurance team to ensure all new contracts are operationally viable prior to transaction.
• Responsible for training new and existing members of the team in any appropriate operational developments.
• Responsible for ensuring all processes and templates are clearly documented and have a suitable audit trail and version control.
  
  

What are we looking for?

• Newly Qualified / Qualified Actuary, with experience in the pension or life specialism
• Have a good technical knowledge and ability to fully understand and learn the workings of our reinsurance platform
• Have strong experience working within the pensions and/or life and/or longevity reinsurance space
• Ability to build and maintain quality stakeholder relationships and has a keen eye for detail
• Commercial knowledge of pension de-risking products including bulk annuities and longevity swaps would be desirable
  
  

We want to hire the whole version of you.

We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. 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.

We’re reviewing applications as they come in, so apply early to avoid missing out.

Find out more about

• Guide for Candidates: thephoenixgroup.pagetiger.com/guideforcandidates
• Find or get answers from our colleagues: www.thephoenixgroup.com/careers/talk-to-us