At a Glance
- Tasks: Oversee and challenge actuarial calculations, ensuring quality and compliance.
- Company: Join a leading UK business committed to diversity and innovation.
- Benefits: Competitive salary, extensive benefits, hybrid working, and career development opportunities.
- Other info: Flexible working policy and support for colleagues with disabilities.
- Why this job: Make a real impact in a growing company serving 28 million customers.
- Qualifications: Qualified Actuary with experience in life insurance or pensions.
The predicted salary is between 89700 - 109600 £ per year.
Salary: £89,700pa to £109,600pa plus an extensive benefits package.
Location: Bristol or Edinburgh.
Hours: Full-time.
Working pattern: Hybrid – at least two days per week at one of our office sites. Flexibility works policy applies to employees with disabilities.
What you’ll be doing:
- Providing effective actuarial oversight and challenge of third‑party actuarial calculations, processes and controls.
- Reviewing and assessing the quality, completeness and appropriateness of actuarial outputs, ensuring they meet internal standards and external requirements.
- Supporting improvements in the control framework, including documentation, governance, issue management and remediation activities.
- Developing a strong understanding of data flows, administration systems and end‑to‑end processes supporting legacy life and pensions business.
- Identifying risks, issues and emerging themes, and escalating or advising appropriately with clear, evidence‑based insight.
- Working collaboratively with third‑party providers and other internal teams.
- Communicating complex actuarial and technical matters clearly to a range of audiences, including non‑specialists.
- Contributing to continuous improvement of oversight approaches, tools and ways of working.
- Supporting knowledge‑sharing and capability development within the actuarial oversight community.
Why join us?
We’re investing billions in our people, places and technology to meet the needs of our 28 million customers. We’re growing, and we’d love you to be part of the journey.
What we’re looking for:
Essential:
- Qualified Actuary (FIA / FFA or equivalent).
- Experience applying actuarial judgement within life insurance and/or pensions, ideally including legacy books of business.
- A strong understanding of actuarial calculations, as applied to life and pension products, with the confidence to provide constructive challenge.
Desirable:
- Knowledge of data, administration systems and control environments supporting life and pensions operations.
- Experience working with or overseeing third‑party service providers.
- Experience in actuarial governance, risk management, model assurance or change assurance.
- Experience working with With‑Profit policies.
We recognise that skills mature in many ways, so if you have relevant, transferable experience we encourage you to apply.
Diversity and Inclusion:
Our ambition is to be the leading UK business for diversity, equity and inclusion, supporting customers, colleagues and communities. We offer reasonable workplace adjustments for colleagues with disabilities and provide a Disability Confident Leader guarantee. We provide reasonable adjustments throughout the recruitment process to reduce or remove barriers. Just let us know what you need.
Actuarial Oversight Manager employer: LLOYDS BANKING GROUP
Join a forward-thinking company that prioritises employee growth and well-being, offering a competitive salary and an extensive benefits package. With a hybrid working model in vibrant locations like Bristol and Edinburgh, we foster a collaborative work culture that values diversity and inclusion, ensuring all employees have the support they need to thrive. Be part of our journey as we invest in our people and technology to better serve our 28 million customers.
StudySmarter Expert Advice🤫
We think this is how you could land Actuarial Oversight Manager
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like LLOYDS BANKING GROUP). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like LLOYDS BANKING GROUP. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Actuarial Oversight Manager
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at LLOYDS BANKING GROUP.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at LLOYDS BANKING GROUP. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at LLOYDS BANKING GROUP
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at LLOYDS BANKING GROUP to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at LLOYDS BANKING GROUP, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding LLOYDS BANKING GROUP's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
