Data and General Insurance Risk Specialists (DGIRD) sits within the Insurance Supervision Directorate, which supervises over 500 Insurance firms. DGIRD brings together actuarial, risk specialist and data analytics expertise to support the PRA's supervision of the UK insurance sector. DGIRD combines technical expertise across catastrophe risk, exposure management, climate risk, cyber underwriting risk, capital, reserving, reinsurance and underwriting with growing data and analytics capabilities. Working closely with supervisors, policy colleagues and specialists from across the Bank, the division provides technical advice, delivers thematic reviews, supports firm-specific supervision, undertakes research and horizon-scanning activities, and contributes to major cross-industry initiatives. The division aims to operate as one integrated division, combining technical excellence, supervisory insight and data-driven analysis to support the PRA's objectives and financial stability.
About the Role
Actuaries in the Data and General Insurance Risk Specialists (DGIRD) department play a key role in assessing the risks that insurance firms and their activities pose to the PRA's statutory objectives. Working closely with Supervision, Policy and other areas of the Bank, the role provides technical expertise, judgement and thought leadership to support supervisory decisions, regulatory approvals, technical reviews, and thematic work.
The role combines firm-facing supervision with technical network or project responsibilities. The balance between these activities will vary over time according to business priorities and individual development objectives.
The jobholder's analysis, recommendations and technical judgement directly influence supervisory interventions, regulatory decisions and, ultimately, the safety and soundness of PRA-regulated insurers.
This role offers the opportunity to combine technical expertise, supervisory judgement and strategic influence to support the PRA's objectives and contribute to the resilience and soundness of the UK insurance sector.
Key Responsibilities
- Work closely with others in DGIRD and across supervision to maintain an understanding of firms' business models, key risks and lines of business.
- Provide actuarial input into the technical risks facing individual general insurance firms.
- Assess emerging risks and recommend appropriate supervisory responses.
- Build and maintain effective relationships with stakeholders within firms, including chief actuaries and CROs.
- Support the development of technical standards, thematic reviews and research initiatives, working with colleagues in Policy and Legal directorates.
- Contribute to the development and dissemination of technical expertise across the wider Insurance Directorate.
- Build and manage relationships across the PRA and wider Bank.
- Provide coaching and on-the-job support to team members.
- Represent the PRA credibly in external meetings, industry forums and engagements.
- Apply professional standards, technical assurance requirements and appropriate audit trails to all work.
- Technical actuarial knowledge and experience broadly equivalent to that of a qualified actuary.
- Strong technical expertise in one or more insurance subject areas, including risk management, underwriting, capital modelling, reserving, reinsurance or exposure management.
- Commercial awareness and understanding of general insurance market dynamics.
- Ability to analyse complex information, form sound judgements and communicate clear, evidence-based recommendations.
- Excellent communication skills, with the ability to explain complex technical issues clearly and accessibly.
- Strong stakeholder management and relationship-building skills.
- Ability to manage competing priorities and deliver across multiple projects.
- Understanding of relevant regulatory frameworks and supervisory approaches, including Solvency UK.
- Breadth of experience across roles, organisations or areas of the insurance sector.
- Experience coaching or developing colleagues.
- Fellowship of the Institute and Faculty of Actuaries or equivalent organisation is desirable, but not essential if the individual has sufficient technical expertise.
General Insurance Actuary
Location: Leeds or London
About DGIRD
Data and General Insurance Risk Specialists (DGIRD) sits within the Insurance Supervision Directorate, which supervises over 500 Insurance firms. DGIRD brings together actuarial, risk specialist and data analytics expertise to support the PRA's supervision of the UK insurance sector. DGIRD combines technical expertise across catastrophe risk, exposure management, climate risk, cyber underwriting risk, capital, reserving, reinsurance and underwriting with growing data and analytics capabilities. Working closely with supervisors, policy colleagues and specialists from across the Bank, the division provides technical advice, delivers thematic reviews, supports firm-specific supervision, undertakes research and horizon-scanning activities, and contributes to major cross-industry initiatives. The division aims to operate as one integrated division, combining technical excellence, supervisory insight and data-driven analysis to support the PRA's objectives and financial stability.
National Security Vetting Process
Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank's Privacy Notice.
The Bank of England welcomes applications from all candidates, but as a UK Visas and Immigration (UKVI) approved sponsor, we have a responsibility to comply with the Immigration Rules and guidance. As such, our ability to employ individuals who require sponsorship for immigration purposes is limited. The Bank cannot guarantee that you and / or the role you are applying for will be eligible for sponsorship and that any application made to UKVI will be successful. Eligibility will therefore be considered on a case by case basis.
Our Approach to Inclusion
The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve. At the Bank of England, we want all colleagues to feel valued and respected, so we are working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it's by drawing on different perspectives and experiences that we'll continue to make the best decisions for the public. We welcome applications from individuals who work flexibly, including job shares and part time working patterns. We've also partnered with external organisations to support us in making adjustments for candidates and employees in the recruitment process where they're needed. For most roles where work can be carried out at home, we aim
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General Insurance Actuary in London employer: Bank of England
The Bank of England is an exceptional employer, offering a dynamic work environment where innovation and user-centred design are at the forefront of its mission. With a strong commitment to employee development, the Bank fosters a collaborative culture that values diverse perspectives and encourages professional growth through training and mentorship. Located in London, employees benefit from a comprehensive benefits package, flexible working arrangements, and the opportunity to contribute to meaningful projects that shape the future of financial services.
