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Life Associate

Date Posted
7th July 2014
Reference
VAC-2129
Sector
Life
Job Type
Permanent
Location
London
Salary
£60,000 to £75,000 Per Annum

Job Description Apply: Life Associate

Detailed Description

The typical responsibilities of the role include:

  • Leading or contributing to proportionate risk-based assessments (e.g. ICAs, IMAP reviews and Part VII transfers) of life insurance firms and groups to identify risk to PRA statutory objectives and to identify potential mitigants for these risks;
  • Leading or participating in research and Specialisms work in key risk areas (especially credit risk and / or longevity risk) aimed at developing house views of what constitutes good practice;
  • Leading or participating in thematic projects by carrying out quantitative analysis on thematic data collection exercises and writing thematic reports on the analysis, highlighting key issues and emerging risks;

 

Job Requirements                

Technical/industry knowledge and skills:

  • A qualified actuary ideally with good longevity and/or credit risk knowledge and experience.
  • Good understanding of the key financial and life insurance risk areas for insurers and the actuarial controls necessary to ensure these are managed prudently.
  • Good technical understanding of areas such as ICAs, SII (standard formula and internal model), stochastic modelling and realistic balance sheets.
  • Good working knowledge of the relevant PRA rules and wider professional guidance.
  • Good understanding of the life insurance market in the UK, key industry issues and trends.
  • Good knowledge of Word and Excel is essential; programming experience (in particular in R) would be desirable.

 

People and behavioural skills:

  • Self-motivated and outcome-focused. Takes full responsibility for all tasks, deliverables and deadlines allocated.
  • Good communication and interpersonal skills, including the ability to put across complex technical issues and solutions to non-actuaries.
  • Be able to work effectively on an independent basis as well as part of a multi-disciplinary team. Ability to integrate well with the existing team and work effectively and collaboratively to deliver business objectives.
  • Ability to give/receive constructive feedback and coach others with a view to improving their/own performance.

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