At a Glance
- Tasks: Lead a team of actuaries and shape the future of General Insurance.
- Company: Join Lloyds Banking Group, a leader in diversity and inclusion.
- Benefits: Enjoy a competitive salary, generous pension, and 30 days holiday.
- Other info: Flexible working options and a commitment to employee wellbeing.
- Why this job: Make a real impact in financial services while developing your career.
- Qualifications: Qualified actuary with experience in pricing, capital, and reserving.
The predicted salary is between 156681 - 184330 £ per year.
End Date: Wednesday 24 June 2026
Salary Range: £156,681 - £184,330
We support flexible working – click here for more information on flexible working options.
Flexible Working Options: Hybrid Working
Job Description Summary:
About this opportunity:
Reporting to the Group Chief Actuary, this General Insurance Chief Actuary role directs a team of actuarial professionals. The role includes crafting the operating model and working closely with participants. It supports business planning and decisions by providing insight, control, and thought leadership. This is an SMF20 role subject to the relevant regulatory obligations.
Key Accountabilities:
- Responsible for delivering elements related to reserves, capital, and liquidity, including maintaining and improving processes and models. Also provides pricing and underwriting support.
- Proactively consider forward-looking capital and optimisation projects for the General Insurance business and its engagement with the wider business of the Group.
- Lead processes to deliver regular and ad hoc insightful information to influence business decisions.
- Contributes to the strategic direction of the General Insurance business, applying insight to support participation, product, rate setting, and risk assessment options.
- Lead actuarial projects or provide actuarial advice to corporate projects with an impact across the divisions.
- Maintain a high performing team to ensure colleagues are led, mentored and developed.
- Ensure self and team maintain positive interaction with key business and finance collaborators with a view to continuous improvement in working relationships and working practices.
- Interpret and translate policy into processes for functional areas and business divisions.
- Proactively build and maintain an external and internal network for the purpose of commercial understanding and/or the protection of customers.
- Incorporate new regulatory standards while advising and providing updates to the board. Lead all aspects of General Insurance and other governance bodies on technical, strategic, and regulatory issues. This includes the reserved roles under UK Solvency II.
- Develop a positive relationship with the PRA, contributing to and leading discussions on actuarial and risk items, Solvency II and internal model maintenance and development.
- Promote positive engagement with Risk and Internal Audit. Sustain a positive tone at the top. Ensure appropriate risk focus in decision-making. Maintain a strong control, governance, and compliance structure.
- Review and make recommendations relating to the Organisation build to ensure it is fit for purpose.
- Support the wider education of the business in all matters GI.
Knowledge/Capabilities:
- Qualified actuary with extensive experience of GI pricing, capital (quantification, reporting, management and monitoring), reserving (including claims processes and reserve monitoring/setting), Liquidity management and ALM.
- Business Planning experience, especially stress and sensitivity.
- Entity / Reinsurance structure knowledge.
- Sound knowledge of market consistent techniques, policies/risk appetite, SII Internal Model and its calibrations, SII legislative requirements, the wider regulatory context and practical implications.
- Track record of being able to explain sophisticated technical matters to broader senior audiences.
- Ability to have difficult conversations at any level in the Organisation, provide constructive challenges and effective oversight of significant/sophisticated businesses.
- Delivering sophisticated projects across different functions; taking practical decisions to deliver what’s required on time and within budget.
- Leading others through change.
About working for us:
Our ambition is to be the leading UK business for diversity, equity and inclusion supporting our customers, colleagues and communities and we’re committed to creating an environment in which everyone can thrive, learn and develop.
We were one of the first major organisations to set goals on diversity in senior roles, create a menopause health package, and a dedicated Working with Cancer Initiative.
We offer reasonable workplace adjustments for colleagues with disabilities, including flexibility in office attendance, location and working patterns. And, as a Disability Confident Leader, we guarantee interviews for a fair and proportionate number of applicants who meet the minimum criteria for the role with a disability, long-term health or neurodivergent condition through the Disability Confident Scheme.
We provide reasonable adjustments throughout the recruitment process to reduce or remove barriers. Just let us know what you need.
We also offer a wide-ranging benefits package, which includes:
- A generous pension contribution of up to 15%
- An annual performance-related bonus
- Share schemes including free shares
- Benefits you can adapt to your lifestyle, such as discounted shopping
- 30 days’ holiday, with bank holidays on top
- A range of wellbeing initiatives and generous parental leave policies
If you’re excited by the thought of becoming part of our team, get in touch! We’d love to hear from you!
At Lloyds Banking Group, we're driven by a clear purpose; to help Britain prosper. Across the Group, our colleagues are focused on making a difference to customers, businesses and communities. With us you'll have a key role to play in shaping the financial services of the future, whilst the scale and reach of our Group means you'll have many opportunities to learn, grow and develop.
We keep your data safe. So, we'll only ever ask you to provide confidential or sensitive information once you have formally been invited along to an interview or accepted a verbal offer to join us which is when we run our background checks. We'll always explain what we need and why, with any request coming from a trusted Lloyds Banking Group person. We're focused on creating a values-led culture and are committed to building a workforce which reflects the diversity of the customers and communities we serve. Together we’re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.
General Insurance Chief Actuary in Edinburgh employer: Lloyds Bank
Lloyds Banking Group is an exceptional employer, offering a dynamic work environment in Bristol, Edinburgh, or Leeds, where flexibility and inclusivity are at the forefront of our culture. With a robust benefits package, including generous pension contributions, performance-related bonuses, and a commitment to employee development, we empower our team members to thrive and grow within their careers while making a meaningful impact on the communities we serve.
StudySmarter Expert Advice🤫
We think this is how you could land General Insurance Chief Actuary in Edinburgh
✨Tip Number 1
Network like a pro! Reach out to current employees on LinkedIn or through your connections. Ask them about their experiences and any tips they might have for landing the General Insurance Chief Actuary role.
✨Tip Number 2
Prepare for the interview by brushing up on your technical knowledge. Be ready to discuss your experience with GI pricing, capital management, and regulatory standards. Show us you can explain complex topics in a way that makes sense to everyone!
✨Tip Number 3
Practice your storytelling skills! We want to hear about your past projects and how you've led teams through change. Use the STAR method (Situation, Task, Action, Result) to structure your answers and make them memorable.
✨Tip Number 4
Don’t forget to showcase your soft skills! Highlight your ability to build relationships and communicate effectively with different stakeholders. This is key for a role that involves influencing business decisions and leading teams.
We think you need these skills to ace General Insurance Chief Actuary in Edinburgh
Some tips for your application 🫡
Tailor Your Application:Make sure to customise your CV and cover letter for the General Insurance Chief Actuary role. Highlight your experience in pricing, capital management, and team leadership, as these are key aspects of the job.
Showcase Your Achievements:Don’t just list your responsibilities; share specific achievements that demonstrate your impact in previous roles. Use metrics where possible to show how you’ve contributed to business success.
Be Clear and Concise:Keep your application clear and to the point. Use straightforward language and avoid jargon unless it’s relevant to the role. We want to see your skills shine without getting lost in complex wording.
Apply Through Our Website:We encourage you to apply directly through our website. This ensures your application is seen by the right people and helps us keep track of all applicants efficiently. Plus, it’s super easy!
How to prepare for a job interview at Lloyds Bank
✨Know Your Numbers
As a General Insurance Chief Actuary, you'll need to demonstrate your expertise in pricing, reserving, and capital management. Brush up on the latest market trends and be ready to discuss how you would apply your knowledge to improve processes and models within the company.
✨Showcase Leadership Skills
This role involves leading a team of actuarial professionals, so be prepared to share examples of how you've successfully mentored and developed others. Highlight your experience in managing change and delivering projects across different functions.
✨Understand Regulatory Standards
Familiarise yourself with UK Solvency II regulations and how they impact the General Insurance sector. Be ready to discuss how you would incorporate new regulatory standards into the company's practices and maintain positive relationships with regulatory bodies.
✨Engage with Stakeholders
Building strong relationships with key business and finance collaborators is crucial. Prepare to talk about your experience in influencing business decisions through insightful data and how you would maintain effective communication with stakeholders at all levels.
