Reinsurance Actuarial Analyst

We have an incredible opportunity to join us here at Phoenix Group as a Reinsurance Actuarial Analyst to join our Annuity Client Services team.

Job Type: Permanent

Location: This role could be based in either our London or Edinburgh office working two days per week at home. We recognise the benefits of flexible working and will discuss what is important to you and balancing this with business requirements during the recruitment process. Flexible working: All of our roles are open to part-time, job-share and other types of flexibility.

Salary and benefits: £35k - £44k plus 8% bonus up to 16%, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.

Who are we? We want to be the best place that any of our 6,600 colleagues have ever worked. We’re the UK’s largest long-term savings and retirement business. We offer a range of products across our market-leading brands, Standard Life, SunLife, Phoenix Life and ReAssure. Around 1 in 5 people in the UK has a pension with us. We’re a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050.

The role:

• Generating regular account and collateral reports using our integrated reinsurance administration system.
• Checking movement data received from Trustees and reasonableness checks on final deliverables produced by the administration system.
• Reviewing annual data extracts to identify changes from the previous year and determining whether an update is required to reinsurance data.
• Timely production of annual exercise materials, including premium amounts and surrender values, using the reinsurance administration system.
• Analysis of benefit specification to determine the structure and timing of benefits payable under the reinsurance arrangement.
• Helping to provide oversight of complex member benefit calculations and member options with our administrators in order to build up benefit knowledge and understand reinsurance benefit simplifications.
• Testing new arrangements as they are implemented onto the reinsurance administration system to ensure the benefits are operating as set out in the benefit specification.
• Follow robust processes set out in supporting documentation, highlighting any opportunities for process improvement that may arise.
• Responsible for ensuring all work produced is clearly documented and has a suitable audit trail and version control.
• Following the best practices with respect to the management of our reinsurance contracts.

We are looking for an individual who prides themselves on building and maintaining quality stakeholder relationships with a keen eye for detail.

What are we looking for?

• An individual that has a strong interest in pursuing actuarial exams to enhance their technical expertise.
• A numerical degree e.g. Mathematics.
• An understanding of pension benefits and bulk annuity products whilst contributing to the creation of bespoke models would be desirable.
• Very self-aware with the desire to exceed expectations and demonstrate resilience in overcoming challenges and determination to deliver results for the business.
• Willingness to develop and progress in the role, highlighting and engaging with any training needs as appropriate.
• Knowledge of Microsoft Office, specifically Excel.

We want to hire the whole version of you. We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you. If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.

Please note that we reserve the right to remove adverts earlier than the advertised closing date. We encourage you to apply at the earliest opportunity.