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- Tasks: Join our Risk department to oversee and challenge new business proposals and reinsurance transactions.
- Company: Be part of a prestigious BPA provider focused on securing retirement incomes for policyholders.
- Benefits: Enjoy a collaborative work environment with opportunities for professional growth and development.
- Why this job: Make a real impact in risk management while working with diverse teams across the business.
- Qualifications: Must be a qualified actuary with experience in life insurance and knowledge of UK bulk annuities.
- Other info: Ideal for those looking to leverage their skills in a dynamic and strategic role.
The predicted salary is between 54000 - 84000 £ per year.
Role Overview:
My client, a prestigious BPA provider, is seeking a highly skilled Senior Risk Actuary to join our wider Risk department. The Risk department plays a critical role in ensuring the success of the business by providing frameworks and insights that guide the company’s strategy within the limits established by the Board.
In this role, you will collaborate with multiple teams across the business to ensure robust second-line oversight and challenge, particularly for new business proposals and reinsurance transactions. This includes close coordination with first-line teams such as Origination, Investments, Finance, Legal, and Operations, as well as sub-teams within Risk (e.g., Investment & Counterparty Risk, Non-Financial Risk, Regulatory Affairs Risk, and Enterprise Risk Management).
Key Responsibilities:
- Collaborate with the wider teams, including the AFH to provide insight and assurance on underwriting and reinsurance risks, both current and emerging.
- Conduct second-line challenge and oversight on proposed new business and reinsurance transactions.
- Provide support to other areas as required, including:
- Advising on matching adjustment eligibility.
- Contributing to oversight of hedging, liquidity, and collateral management risks.
- Supporting the wider team in delivering effective second-line oversight.
Skills and Experience Required:
- A qualified actuary with post-qualification experience in life insurance, and excellent knowledge of UK bulk annuities, from either first or second line perspective.
- Experience working within an independent challenge function, e.g., a 2nd line Risk Function, consulting role, or audit.
- Good knowledge of the Solvency II balance sheet (and associated elements, e.g., matching adjustment, transitional measure on technical provisions) and/or IFRS 17.
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Senior Risk Actuary - BPA employer: Oliver James Associates Ltd.
Contact Detail:
Oliver James Associates Ltd. Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Risk Actuary - BPA
✨Tip Number 1
Make sure to network with professionals in the actuarial field, especially those who have experience in risk management and bulk annuities. Attend industry conferences or webinars where you can meet potential colleagues and learn more about the latest trends in the sector.
✨Tip Number 2
Familiarize yourself with the specific challenges and regulations related to Solvency II and IFRS 17. Being able to discuss these topics knowledgeably during interviews will demonstrate your expertise and commitment to the role.
✨Tip Number 3
Consider reaching out to current or former employees of the company to gain insights into their culture and expectations. This can help you tailor your approach and show that you understand the company's values and objectives.
✨Tip Number 4
Prepare to discuss specific examples from your past experience where you successfully collaborated with cross-functional teams. Highlighting your ability to work effectively with various departments will be crucial for this role.
We think you need these skills to ace Senior Risk Actuary - BPA
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your qualifications as an actuary, especially your post-qualification experience in life insurance and knowledge of UK bulk annuities. Emphasize any relevant roles in independent challenge functions or risk management.
Craft a Strong Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Discuss how your experience aligns with the key responsibilities outlined in the job description, particularly your ability to collaborate with cross-functional teams and provide second-line oversight.
Showcase Relevant Skills: Highlight your understanding of Solvency II and IFRS 17 in your application. Provide specific examples of how you've applied this knowledge in previous roles, particularly in relation to risk management and oversight.
Proofread Your Application: Before submitting, carefully proofread your application materials. Ensure there are no grammatical errors or typos, and that your documents are formatted professionally. A polished application reflects your attention to detail, which is crucial in the actuarial field.
How to prepare for a job interview at Oliver James Associates Ltd.
✨Showcase Your Actuarial Expertise
Make sure to highlight your qualifications and experience as a qualified actuary, especially in life insurance and UK bulk annuities. Be prepared to discuss specific projects or challenges you've faced in these areas.
✨Demonstrate Collaborative Skills
Since the role involves working closely with various teams, emphasize your ability to collaborate effectively. Share examples of how you've successfully worked with cross-functional teams in the past.
✨Understand Regulatory Frameworks
Familiarize yourself with Solvency II and IFRS 17, as these are crucial for the role. Be ready to discuss how you have applied this knowledge in previous positions or how you would approach related challenges.
✨Prepare for Scenario-Based Questions
Expect questions that assess your problem-solving skills in real-world scenarios. Think about potential new business proposals or reinsurance transactions and how you would provide oversight and challenge in those situations.
