At a Glance
- Tasks: Lead a team of actuaries, shaping strategies and influencing key business decisions.
- Company: Join a leading UK firm committed to diversity, equity, and inclusion.
- Benefits: Generous pension, performance bonuses, 30 days holiday, and flexible working options.
- Other info: Supportive environment with opportunities for personal and professional growth.
- Why this job: Make a real impact in the insurance sector while developing your career.
- Qualifications: Qualified actuary with experience in pricing, capital management, and reserving.
The predicted salary is between 80000 - 100000 £ per year.
Location: Bristol, Edinburgh or Leeds
Hours: Full time
Working pattern: Hybrid, spending at least two days per week (40%) at one of the office sites
About this opportunity
Reporting to the Group Chief Actuary, this 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.
- 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, including 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.
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 offer reasonable workplace adjustments for colleagues with disabilities, including flexibility in office attendance, location and working patterns. 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.
Benefits
- 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!
General Insurance Chief Actuary employer: Lloyds Banking Group
Join a forward-thinking company in Bristol, Edinburgh, or Leeds as a General Insurance Chief Actuary, where we prioritise diversity, equity, and inclusion in a supportive work environment. With a generous benefits package including up to 15% pension contributions, flexible working arrangements, and a commitment to employee development, we empower our actuaries to lead impactful projects while fostering a culture of continuous improvement and collaboration. Experience the unique advantage of being part of a team that values your insights and encourages professional growth in a dynamic industry.
StudySmarter Expert Advice🤫
We think this is how you could land General Insurance Chief Actuary
✨Tip Number 1
Network like a pro! Reach out to current or former employees in the insurance sector, especially those in actuarial roles. They can provide insider info and might even refer you directly to hiring managers.
✨Tip Number 2
Prepare for interviews by brushing up on your technical knowledge and soft skills. Be ready to discuss your experience with capital management and risk assessment, as well as how you’ve led teams through change.
✨Tip Number 3
Showcase your leadership skills! During interviews, share examples of how you've mentored colleagues or improved team performance. This is key for a role like Chief Actuary where team dynamics matter.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re genuinely interested in joining our team.
We think you need these skills to ace General Insurance Chief Actuary
Some tips for your application 🫡
Tailor Your CV:Make sure your CV reflects the specific skills and experiences that align with the General Insurance Chief Actuary role. Highlight your expertise in pricing, capital management, and team leadership to catch our eye!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about this role and how your background makes you the perfect fit. Don’t forget to mention your experience with regulatory standards and strategic decision-making.
Showcase Your Leadership Skills:As a Chief Actuary, leading a high-performing team is key. Share examples of how you've mentored and developed colleagues in the past, and how you plan to maintain positive interactions within the team and across the business.
Apply Through Our Website:We encourage you to apply directly through our website for a smoother application process. It’s the best way for us to receive your application and get you on the path to joining our fantastic team!
How to prepare for a job interview at Lloyds Banking Group
✨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 led teams in the past. Highlight your mentoring experience and how you've fostered a high-performing environment, as this will resonate well with the interviewers.
✨Understand Regulatory Standards
Familiarise yourself with UK Solvency II regulations and other relevant compliance frameworks. Be ready to discuss how you would incorporate these standards into the company's operations and how you've navigated regulatory challenges in previous roles.
✨Engage with Business Strategy
The role requires contributing to the strategic direction of the General Insurance business. Prepare to discuss how you can provide insightful information to influence business decisions and how you've successfully aligned actuarial projects with broader business goals in the past.
