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Actuarial Manager

Date Posted
1st November 2016
Job Type
Excellent Benefits
£60,000 to £75,000 Per Annum

Job Description

An exciting opportunity for a qualified actuary has arisen in Aviva’s Group Finance function. We are actively recruiting for a Life Insurance Actuarial Manager to be based in our St Helen’s office in London. 

This Group team provides a single point of first line actuarial contact between Aviva’s Life Business Units around the world (in the UK, Ireland, France, Spain, Italy, Poland, Turkey & Asia) and Group Finance in London, to facilitate Group’s understanding of their financial results and to provide them with technical support where necessary.

The team is responsible for the review & challenge of Business Units’ (BUs’) actuarial reporting deliverables across IFRS and Solvency II. Utilising knowledge and expertise acquired in role to provide insight and analysis on reported BU results to relevant Group stakeholders including the Group Actuary, the Chief Accounting Officer and Investor Relations, in order to influence decision making.

As a Life Insurance Actuarial Manager your key responsibilities will include:

  • Analytical review and production of commentary to enable Group Reporting deliverables (including but not limited to, SII and IFRS Technical Provisions, Standard Formula and Internal Model SCRs, Own Funds, Risk Margin) for both internal and external (public and private) disclosure. Understanding analyses of change and ensuring consistency of approach between BUs around the world.
  • Providing Technical Guidance to the Life Insurance BUs, assisting them to ensure that the guidance is implemented and managing technical and process issues in implementation. Being a key point of actuarial contact at Group for the BUs, leading the reporting cycle(s) to ensure timely and high quality submissions.
  • Acting as a subject matter expert, supporting the team and relevant Heads of & Directors in understanding overall actuarial reporting for Life Insurance BUs. The role holder will provide technical knowledge, guidance and training on actuarial reporting issues to the wider Group Finance team.  They will also liaise with Investor Relations to ensure external messaging appropriately reflects the Group’s Life Insurance results.
  • Keeping up to date with regulatory changes (SII and IFRS) and commercial and reporting developments in Life Insurance BUs, communicating any material changes to the relevant stakeholders, and ensuring that these changes are appropriately reflected in the relevant SII and IFRS results.  This activity could involve a diverse range of developments, everything from regulatory reporting changes to mergers or acquisitions.
  • Working closely with the Life Insurance Senior Actuarial Manager, the Head of Actuarial Reporting and Aviva’s external auditors for SII and IFRS technical issue resolution.
  • Working closely with 2nd line counterparts in the Group Actuarial Function to ensure consistent understanding of actuarial developments affecting Aviva’s Life Insurance businesses and an efficient 1stline/2nd line operating model
  • Strong focus on controls, ensuring they are complied with and adequately documented.

Qualifications and experience

  • Qualified Actuary with excellent working and theoretical knowledge of Solvency II for Life Insurance business
  • IFRS or Solvency II Pillar 3 financial reporting experience is an advantage
  • Insurance or financial services experience
  • Sound actuarial reporting capabilities
  • Proven track record of process delivery to a very high standard