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Senior Actuarial Manager

Date Posted
16th February 2016
Job Type
Excellent Benefits
£45,000 to £95,000 Per Annum

Job Description

A number of vacancies have arisen for qualified actuaries to join Aviva’s UK Life Division in York, working within both the Actuarial Reporting teams and also Model Development. These are challenging roles at a time when the business is embedding Solvency II and also embarking on a period of integration following the merger with Friends Life.

These roles offer excellent career development opportunities for talented individuals to influence development of actuarial reporting systems and processes and the implementation of changes in assumptions and methodology. With a focus on both IFRS and Solvency II measures, there are numerous opportunities to present the results of the team’s reporting activity or the model development to senior stakeholders within the Finance function. In particular, with the recent approval of Aviva’s Internal Model in respect of the UK Life business a number of the opportunities will offer direct involvement in the latest actuarial methodologies.

Key areas of opportunity

Successful candidates will join a highly capable and motivated actuarial reporting and development function, responsible for a wide range of activity.

The key areas of focus, across a range of With Profit and Non-Profit funds will include some of the following;

Production of Solvency II Results (both Internal Model and Standard Formula) for submission to Aviva Group and the PRA. This includes the production of Loss Functions and the calculation and review of the results produced by the Internal Model.

  • Production of IFRS Results.
  • Production of new business results.
  • Monthly solvency monitoring of capital position.
  • Contributing to the corporate planning process, including stress and scenario testing.
  • Working within the Model Development team, including the design of requirement specifications, liaising with the build team throughout the development, testing the solution and ultimately signing off the impact on financial results and implementing within Finance. Developments will cover Prophet, ALS, an Asset Stressing Model and the post-model reporting suite of systems.
  • Working on a number of initiatives designed to accelerate the financial reporting process in line with the acceleration required under the new regulatory regime.
  • Completing the development of the systems and processes required to produce the Quantitative Reporting Templates (QRTs) under the Solvency II regime.
  • Carrying out validation activity such as multi-scenario analysis, roll-forward back-testing and profit and loss attribution – including the enhancement of our capability to undertake this analysis.
  • Playing a leading role on the financial integration aspects following the merger of Aviva and Friends Life, including:
  • Transitioning Friends Life business onto the Aviva Internal Model
  • Supporting Part VII activity
  • Aligning reporting systems and processes across the two former businesses

Skills and Knowledge

Key skills, knowledge and qualifications include;

  • A qualified Actuary, newly qualified through to several years of post qualified experience
  • Expert knowledge and understanding of actuarial principles, formulae and methodology
  • Good knowledge of UK Life Insurance industry and its products
  • Strong knowledge of actuarial reporting measures, systems and processes
  • Experience of working with Prophet , ALS or Excel
  • Experience of working in an actuarial reporting team
  • Track record of delivery (e.g. projects, product launches, financial reporting) to tight timescales
  • Excellent communication skills
  • Focus on prioritisation and planning

We prefer all applications to be submitted online, however if you require an alternative method of applying please contact Harry Horlock in the Resourcing team on 0207 662 4283