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Financial Management Actuary

Date Posted
6th February 2015
Reference
VSR/0555
Sector
Life
Job Type
Permanent
Location
UK, South East
Benefits
Salary dependant on level of experience
Salary
Negotiable

Job Description Apply: Financial Management Actuary

Job Summary

An exciting opportunity has arisen to play a lead role in the strategic development and financial management of the Retirement Division. The Division has assets under management of £38bn and generates profit of c£400m per annum.

The division has aspirations to grow internationally, as well as increasing market share in the UK through an enhanced product proposition and potentially bolt-on acquisitions.

Within the division Financial Management team you will be at the forefront of the financial performance of the Annuities business, responsible for design and implementation of financial solutions across all financial, risk and capital measures.

You will engage with the team’s customers across the broader Retirement division and the wider Group and ensure that the needs and expectations of customers are met and by continually developing and maintaining proactive engagement with respect to analysis, financial results and new projects.

Ideally you will be an actuary with experience of working within an innovative, technical, results driven environment, ideally within Financial Services.

Key Responsibilities

Financial Management

Identify and deliver financial engineering solutions for the division in order generate value and optimise financial performance.

Proactive financial management of the longevity risk for the division, including assessment of reinsurance opportunities, reporting assumptions and methodologies and input into research projects.

Provide Finance review and challenge of proposals to the Retirement Product & Capital Committee (RPCC) in ensuring that products are appropriate designed, priced within agreed risk appetite and capital limits.

Technical lead in Finance to support the division in financial assessment of acquisition, large Bulk transactions and other commercial opportunities by carrying out financial due diligence, analysing and optimising the impact on reported results.

Support the international development of the business by providing insight and analysis of target markets, including regulatory environment and financial assessment of commercial opportunities.

Delivery of financial management information, forecasting, planning and scenario analysis capability to assist the Retirement business in the management of its business performance.

Lead the assessment of regulatory change affecting the division. Support the broader Finance team in the implementation of model/methodology changes and represent the division on Group-wide discussion of regulatory change (e.g. Economic Capital, Solvency 2, IFRS Phase 2).

Lead the development of financial modelling and methodologies to assist the Finance and the broader division in the management of its business performance. Develop and own tactical reporting solutions until these have been made into industrial strength processes.

Customer Relationship and Information Management.

Engage with the team’s customers across the broader Retirement division and the wider Group.

Ensure needs and expectations of customers are met and by continually developing and maintaining
proactive engagement with respect to analysis, financial results and new projects.

 

Skills, Knowledge & Experience Required

You are likely to be an experienced qualified actuary with extensive technical experience and have post qualification experience within Financial Services.

Ideally you will have UK Financial Reporting experience (EEV, IFRS, SII and EC)

Excellent technical and analytical ability, with strong commercial awareness.

Quality and delivery focused, creative, self starter with the ability to motivate, influence and persuade

Ability to build relationships and interact effectively at all levels.

Dynamic and able to respond well to changing priorities from different sources.

A proactive attitude to change is a must.


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