Reinsurance Actuary

Utmost Group; United Kingdom; Remote; GBP 60,000 - 100,000; Full time

Job summary

Utmost Group is seeking an actuarial professional to lead reinsurance pricing activities in the UK. You will negotiate terms with reinsurers and build stakeholder relationships while working closely with the Chief Actuary, BPA Pricing team, and Head of Reporting.

The role involves designing capital-efficient risk solutions for longevity, lapse and mortality, overseeing treaties, mentoring junior staff, and ensuring FCA and PRA compliance.

Qualifications

• Qualified Actuary or nearing qualification, with plan to qualify soon.
• Experience in Pricing / Actuarial / reporting within a UK Life insurer or reinsurer pricing/administration.
• Experience managing stakeholders at all levels.
• DB pensions and longevity swap knowledge.

Responsibilities

• Conduct reinsurance pricing activities and negotiate terms.
• Build and manage relationships with internal and external stakeholders.
• Work with the Chief Actuary, BPA Pricing, and Head of Reporting to design capital-efficient risk solutions for key risks including longevity, lapse and mortality.
• Oversee operational aspects of reinsurance treaties, including collateral and reporting.
• Mentor junior members of the actuarial and pricing teams.
• Comply with FCA Consumer Duty rules and PRA conduct standards.
• Notify regulators of matters that should be reported.

Skills

Reinsurance pricing

Stakeholder management

Longevity knowledge

Pensions experience

Communication skills

Education

Qualified Actuary or near-qualified

Job description

• Conduct reinsurance pricing activities, including discussions with reinsurers and negotiate reinsurance terms.
• Build and manage relationships with internal and external stakeholders including reinsurance counterparties.
• Working with the Chief Actuary, BPA Pricing team, and Head of Reporting to design, administer and report capital efficient solutions that effectively manage key risks , including but not limited to Longevity, lapse and mortality
• Implement and oversee operational aspects of reinsurance treaties, including collateral and administration arrangements and reporting solutions.
• Managing/mentoring junior members of the wider actuarial and pricing teams.
• Comply with the FCA’s conduct and Consumer Duty rules and the PRA’s conduct standards as set out.
• Notify the regulator(s) of matters reasonably expected to be notified.

• Conduct reinsurance pricing activities, including discussions with reinsurers and negotiate reinsurance terms.
• Build and manage relationships with internal and external stakeholders including reinsurance counterparties.
• Working with the Chief Actuary, BPA Pricing team, and Head of Reporting to design, administer and report capital efficient solutions that effectively manage key risks , including but not limited to Longevity, lapse and mortality
• Implement and oversee operational aspects of reinsurance treaties, including collateral and administration arrangements and reporting solutions.
• Managing/mentoring junior members of the wider actuarial and pricing teams.
• Comply with the FCA’s conduct and Consumer Duty rules and the PRA’s conduct standards as set out.
• Notify the regulator(s) of matters reasonably expected to be notified.

Core Competencies

• Strong knowledge of reinsurer treaties, pricing and administration.
• Strong knowledge of UK Defined Benefit Pensions and other reinsurance structures.
• Strong communication skills (able to communicate technical issues to senior people including non-actuaries).
• Operational working of longevity swaps and flow treaties including administration and collateral.

Experience and qualifications

• Qualified Actuary or nearly qualified, with a view of qualifying in the short term.
• Experience of working within Pricing / Actuarial /reporting functions of a UK Life assurer or in a reinsurer pricing or administration function.
• Experience of managing stakeholders at all levels.
• DB pensions and longevity swap knowledge.