Actuarial Analyst

Job Title: Actuarial Analyst

Reports to: Actuarial Manager

Overall Job Purpose

- Carry out actuarial studies and projects as defined by the business and the Knowledge services team, Communicate results of actuarial analysis

About the Team

- The Head Office is based in London and the Group Risk function is a growing team, particularly where Solvency II is concerned. The Group Head Office actuarial team has expanded over the last 3 years as part of the Solvency II project and is responsible for the development and production of the group-wide Solvency II Internal Capital model (ICM) and results and hence requires interaction with the business units in the UK, US and Asia.

- The team is looking to strengthen its permanent staff as the Solvency II programme ends including expanding the operation in London and the development of a new operation in Mumbai, building on the existing UKIO Actuarial team. The team is relatively flat in structure and offers senior and junior students day-to-day access to high-level activities.

The Solvency II Actuarial Team is broadly divided into four areas:

Internal Model development;

- Risk Scenario Generation (including development);

- Calculation of Group-wide SII numbers; and

- Operating model / business unit review.

- There are opportunities to move from one area to another over time, should the candidate wish – an active rotation policy is in place already.

Roles and Responsibilities

We are looking for actuarial candidates with different levels of experience and exam progress to join the permanent GHO Actuarial team, initially working on the Solvency II programme. Areas where we are looking to take on potential candidates depending on their skill set and level of experience are:

- Internal Capital Model (ICM) calculations – working on the set-up, production, analysis and reporting of group-wide model results, utilising results and models submitted by the business units.

- Scenario generation – working on the production of scenario files for the Internal Model, along with development of the tools which are used for this.

- Asset modelling – working to refine the modelling of the asset valuation functionality within the Internal Model. Knowledge of investments, combined with an interest in modelling is a pre-requisite for this.

- Internal Model development – working to improve the framework of the Internal Model, implemented in Algorithmics. The role would involve specification of changes, implementation work and testing and would appeal to a strong modeller. Excellent VBA skills are important for this role.

1.5 to 3 years of core Actuarial experience in Life Insurance / Pension space with at-least 5 CT papers cleared.

Candidates not willing to relocate to Mumbai, please do not apply.