Actuarial Analyst (Student Actuary), London/Hybrid, Goodman Masson 11416

As an Actuarial Analyst, you will have the opportunity to implement these cutting-edge initiatives that will change how the reporting team works. You are also expected to identify ideas on an ongoing basis for improving business performance and processes and adding value.

Whilst initially joining our Reporting & Financial Management team within Finance, you will be provided with opportunities to explore the business by working in various teams within our Finance department through our rotation programme. You will also be supported in gaining your professional actuarial qualification with the Institute and Faculty of Actuaries (“IFoA”).

The Actuarial Reporting team ensures that the monthly and semi-annual actuarial reporting is prepared in a timely and accurate manner and that these are appropriately analysed, explained, and communicated both within the business and externally. The team also provides support for ad hoc actuarial investigations and projects as necessary.

Your role will entail:

• Support the preparation of internal monthly reporting and analysis, including information for year-end and half-year reports
• Support the preparation of information for use in hedging, forecasting and planning
• Identify and support the implementation of improvements to the reporting processes
• Ensure controls and reviews are followed, following up with senior team members if there are any issues
• Ensure documentation is kept up to date
• Support the Head of Actuarial Reporting in other ad hoc actuarial investigations and other projects as they arise

The other sub-teams into which you may rotate include:

Automation and Insight:

Contributes to the overall success of the business by ensuring processes are efficient, operate as intended and allow management to make decisions on clear and actionable insights. Acts as a support function by focusing on the removal of manual and labour-intensive steps in the reporting process, replacing these with more suitable technologies.

Financial Actuarial and Capital:

Enhances assumptions and capital framework. Key responsibilities are the management and development of the statistical model used to understand the risks faced and how they impact the balance sheet (the Internal Model, or “IM”), and the management and oversight for reserving/ valuation assumptions and judgements.

Actuarial Modelling and Data:

Maintains and develops the principal actuarial projection and valuation model and supports other staff in the understanding and efficient use of the liability modelling systems. Manages the modelling of new business and new reinsurance treaties, validations, the delivery of updates to policy data for financial reporting, actuarial support for related projects, and the support for wider projects through data analytics.

Business Planning and Forecasting: Delivers the business plan and weekly solvency estimate to allow Senior Management to make timely and informed decisions around the management and optimisation of the balance sheet. The team works closely with the Strategy team as well as Business Partnering and liaises directly with other functions such as Investments and Origination.

Business Partnering: Works closely with “the front office” (Investment and Origination team) to produce or validate analysis of the financial implications of asset trades/transfers and understand the features and balance sheet impacts of potential new business. The team also plays an important role in Matching Adjustment (“MA”) compliance, which gives relief for holding certain long-term assets that match the cash flows of its obligations to ensure the business operates the MA Fund in line with the MA Application and PRA regulatory requirements.

Requirements:

Essential

• Part Qualified student actuary
• Strong numerical and analytical skills. In particular, analysis and investigation of financial results from actuarial models
• Good communication skills, in particular, the ability to convey messages behind financial impacts to senior actuaries and other management
• Excel skills to advanced level

Desirable

• Financial reporting knowledge in a UK life insurance environment
• Knowledge of UK DB pensions and/or bulk annuities
• Competence in the use of actuarial modelling software, e.g. RAFM
• Competence in Word, PowerPoint, etc
• Management of complex processes, ensuring that outcomes are correct and timely

To learn more about this exciting opportunity, please get in touch with Fabio Da Silva Faria:

E – fabio.dasilvafaria@goodmanmasson.com

T – +44 (0)78 272 590 53