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- Tasks: Manage £36bn of assets and ensure optimal risk-return for with-profits funds.
- Company: Join a leading financial services company focused on customer outcomes.
- Benefits: Competitive salary, generous leave, private medical cover, and flexible working options.
- Why this job: Make a real impact in a high-profile role with opportunities to present to senior leaders.
- Qualifications: Strong understanding of with-profits and asset-liability management required.
- Other info: Dynamic team environment with excellent career development and support.
The predicted salary is between 63400 - 103200 £ per year.
We are looking for a With-Profits ALM Actuary to join the team and help us manage £36bn of assets across 22 with-profits funds. This is a great opportunity to develop your career in a high-profile role interacting with many areas of the business including senior leaders.
Job Type: Permanent
Closing Date: 23rd Jan 26
Location: This role could be based in any of our Birmingham, Edinburgh, Telford or London offices with time spent working in the office and at home.
Flexible working: All of our roles are open to part-time, job-share and other types of flexibility. We will discuss what is important to you and balancing this with business requirements during the recruitment process.
Salary and benefits: £63,400 - £103,200 discretionary bonus medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.
We’re currently recruiting for a With-Profits ALM actuary to join our With-Profits Asset-Liability Management (WP ALM) team, part of the wider With-Profits Management directorate. We are passionate about delivering good customer outcomes for our with-profits customers across our 22 with-profits funds, which collectively hold £36bn in assets.
Good asset-liability management is crucial for ensuring we deliver this for our customers by ensuring that their policies are invested to provide the right mix of risk and returns. We do this through regular monitoring, hedge rebalancing and other actions throughout the year, supplemented by one-off projects.
We are looking to bolster our WP ALM capability by bringing on board an experienced actuarial specialist who understands assets, hedging, with-profits financial reporting, and the interplay between them. The role is high profile with regular opportunities to present to senior leaders like Chief Actuaries and With Profits Actuaries. The role holder will also engage with and challenge Finance Reporting actuaries to understand movements, as well as engaging with Phoenix Asset Management on investments.
There is an opportunity to get involved in the numerous exciting projects underway in the With-Profits area, most of which have an ALM component.
Key Responsibilities:
- Regularly monitor the risk profiles of our with-profits funds, recommend actions, win approval for those by presenting to senior leaders, and drive those actions to completion.
- Engage with and challenge other teams providing inputs.
- Work with teams to whom outputs are provided to answer questions and help drive actions to completion.
- Deliver process improvements and efficiencies by understanding and challenging current approaches while maintaining a well-controlled environment.
- Provide technical inputs and outputs to projects requiring WP ALM work.
- To supervise and mentor other team members.
What We’re Looking For:
Essential:
- Good understanding of with-profits balance sheet including capital requirements.
- Good verbal and written communication skills.
- Confident, independent, and curious.
Desirable:
- Previous experience in with-profits and/or asset-liability management.
- At least middling understanding of different asset types suitable for with-profits funds and how they are used for hedging the balance sheet.
What We Offer:
Bring your ‘whole self’, skills and dedication to the Phoenix Group and we’ll recognise your effort, support your development and help to drive your ambition. We’ll ensure you’re rewarded for your contribution with a competitive package that includes an attractive pension, annual bonus potential, private medical insurance, generous holiday entitlement, enhanced maternity and adoption leave and a range of other financial services and lifestyle flexible benefits.
Online Interviews and Onboarding: All our interviews, onboarding and new joiners are now managed remotely. We have in place a strong virtual support network to ensure new colleagues are supported and developed as they navigate their first few months with us.
WP ALM Actuary employer: Phoenix Group Holdings
Contact Detail:
Phoenix Group Holdings Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land WP ALM Actuary
✨Tip Number 1
Network like a pro! Reach out to current employees on LinkedIn or attend industry events. A friendly chat can open doors that applications alone can't.
✨Tip Number 2
Prepare for those interviews! Research the company and its with-profits funds. Be ready to discuss how your skills can help manage that £36bn of assets effectively.
✨Tip Number 3
Show off your communication skills! Practice explaining complex actuarial concepts in simple terms. This will impress senior leaders during your presentations.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed and you’re considered for this exciting role.
We think you need these skills to ace WP ALM Actuary
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the With-Profits ALM Actuary role. Highlight your experience with asset-liability management and any relevant projects you've worked on. We want to see how your skills align with what we're looking for!
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 you can contribute to our team. Don’t forget to mention your understanding of with-profits funds and your communication skills.
Showcase Your Achievements: When filling out your application, be sure to showcase your achievements in previous roles. Whether it's improving processes or successfully managing projects, we love to see how you've made an impact in your past positions.
Apply Through Our Website: We encourage you to apply through our website for a smooth application process. It’s the best way to ensure your application gets to us directly, and you’ll find all the details you need right there!
How to prepare for a job interview at Phoenix Group Holdings
✨Know Your Numbers
As a With-Profits ALM Actuary, you'll be dealing with significant assets. Brush up on your understanding of the £36bn in assets and how they relate to risk profiles. Be ready to discuss how you would monitor these funds and suggest actions based on your analysis.
✨Communicate Clearly
Good verbal and written communication skills are essential for this role. Practice explaining complex actuarial concepts in simple terms. You might need to present to senior leaders, so ensure you can convey your ideas confidently and clearly.
✨Engage with the Team
This role involves collaboration with various teams. Familiarise yourself with the different departments you'll interact with, like Finance Reporting and Asset Management. Think about how you can challenge their inputs constructively and drive actions to completion.
✨Show Your Curiosity
Being curious is a key trait they're looking for. Prepare questions that show your interest in the company's approach to asset-liability management and the projects underway in the With-Profits area. This will demonstrate your eagerness to contribute and learn.
