Risk Actuarial Analyst

Benefact Group plc; Gloucester; Hybrid; GBP 40,000 - 80,000; Full time

Job summary

Join a forward-thinking financial services group as a Risk Actuarial Analyst in Gloucester. In this pivotal role, you will support Actuarial Risk Management, working closely with the Head of Actuarial Risk and contributing to the development of internal models to meet Solvency II standards. This innovative company offers a collaborative environment, a competitive salary, and a range of benefits including hybrid working, generous annual leave, and full study support for professional qualifications. If you are passionate about making a difference in a purpose-led organization, this opportunity is perfect for you.

Benefits

Competitive Salary

Hybrid Working

Group Personal Pension - up to 12% employer contribution

Generous Annual Bonus Scheme up to 24%

25 Days Annual Leave Plus Bank Holidays

Health and Wellbeing Benefits

Annual Personal Grant to Charity

Volunteering Day

Employee Assistance Programme

Full Study Support for Professional Qualifications

Qualifications

• Part qualified actuary or equivalent experience is essential.
• Strong understanding of the SII regime and General Insurance risks.

Responsibilities

• Support the Actuarial Risk Management and provide validation testing.
• Engage with business to enhance scenario banks and improve processes.

Skills

Actuarial Skills

Understanding of SII regime

Technical Expertise in General Insurance

Task Ownership and Reporting

Cross-Team Relationship Building

Presentation Skills

Education

Part Qualified Actuary (Associate level)

Relevant Experience/Qualification

Job description

Working hours: 35 hours per week, Monday to Friday

Duration: Permanent

Location: Gloucester

Job Ref: 203263

About the role

Benefact Group, are looking for a Risk Actuarial Analyst to join ourGloucesteroffice.

As a Risk Actuarial Analystyou willsupport the provision of Actuarial Risk Management across the Benefact Group

Joining our rapidly expanding and innovative Group presents a fantastic opportunity to develop your career and become an integral part of an inclusive, purpose-led organisation.

Key responsibilities

• Support Head of Actuarial Risk and Actuarial Risk Manager as deputy in relation to line 2 function representative in business meetings
• Support the Actuarial Function Opinions (Group, MIC, BIC, Ireland) on the Underwriting Policy, adequacy of Reinsurance arrangements, Business Planning and reliability and adequacy of Technical Provisions.
• Perform a cycle of independent validation testing and reporting on the appropriateness of the Group’s Internal Model for meeting Solvency II standards.
• Provide appropriate challenge to the model development across all risk areas, including both Market and Insurance risks
• Engage with the business to enhance and maintain an up to date stresses and scenario bank
• Proactively challenge and improve existing line 2 processes

Knowledge, skills and experience

• Part qualified actuary (Associate level equivalent) or equivalent relevant experience/qualification
• Strong understanding of the SII regime
• Strong capacity to develop widening technical expertise to cover a broad range of General Insurance and Market risks
• Ability to own and deliver tasks and reporting end to end
• Ability to build cross team relationships and strong presentational skills bothwritten and orally
• Experience of GI (Capital/Reserving/Pricing) or line 2/audit insurance activities are advantageous

What we offer

• A competitive salary - let's discuss it
• Hybrid working
• Group Personal Pension - up to 12% employer contribution
  
• Generous annual bonus scheme up to 24%
  
• 25days annual leave plus bank holidays, and a holiday buy and sell scheme
  
• A range of health and wellbeing benefits, including private healthcare, income protection and life assurance
  
• Up to £400 annual personal grant to a charity of your choice
  
• Encouraged to take at least one volunteering day per year
  
• Employee Assistance Programme
  
• Full study support to gain professional qualifications
• Access to virtual GP
• Enhanced maternity and paternity pay

About us

Benefact Group is a unique international financial services Group made up of over 30 businesses. We are owned by a charity and are currently the UK’s 3rd largest corporate donor, having given away £200 million since 2016. We have ambitious plans to become the UK’s number one corporate donor, with strategic objectives in place to double the Group’s size.

We believe it’s essential to attract, empower, grow and reward talented people, offering fantastic opportunities for career and personal development. Our giving ethos, 135-year history and the diversity of what we do, has enabled us to build a culture of kindness, great ambition, and of passionate people driven to do better and be better.

At Benefact Group, we are committed to creating an inclusive culture and building an environment where each and every one of us feels valued and respected. We are a community made up of people with a range of different backgrounds, abilities, perspectives, beliefs and interests and we value the strength this brings to us as a Group. We welcome applications from everyone.

If you need any additional support during the recruitment process, then please let us know.