At a Glance
- Tasks: Lead a team of actuaries and drive strategic decisions in General Insurance.
- Company: Join a leading insurance firm with a commitment to innovation and collaboration.
- Benefits: Enjoy a competitive salary, generous pension, and flexible working options.
- Other info: Embrace a culture of continuous improvement and professional development.
- Why this job: Make a real impact on business planning and risk management in a dynamic environment.
- Qualifications: Qualified actuary with experience in pricing, capital management, and reserving.
The predicted salary is between 156681 - 184330 £ per year.
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.
Employee Benefits and EEO
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. 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
General Insurance Chief Actuary in Wellington employer: LLOYDS BANKING GROUP
As a leading employer in the insurance sector, we pride ourselves on fostering a dynamic and inclusive work culture that prioritises employee growth and well-being. Our hybrid working model allows for flexibility, while our comprehensive benefits package, including a generous pension contribution and extensive parental leave policies, ensures that our team members feel valued and supported. Join us to be part of a high-performing team where your expertise will directly influence strategic decisions and drive meaningful change within the General Insurance landscape.
StudySmarter Expert Advice🤫
We think this is how you could land General Insurance Chief Actuary in Wellington
✨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 General Insurance Chief Actuary in Wellington
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.
