At a Glance
- Tasks: Generate reports, analyse data, and ensure accurate reinsurance arrangements.
- Company: Join Standard Life, a leader in retirement savings with over 200 years of experience.
- Benefits: Enjoy a competitive salary, 38 days annual leave, private medical cover, and flexible working options.
- Other info: Flexible working arrangements and a supportive environment for professional growth.
- Why this job: Kickstart your actuarial career while making a real impact in the pensions sector.
- Qualifications: Strong numerical degree and interest in pursuing actuarial exams.
The predicted salary is between 35100 - 44000 £ per year.
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.
Salary and benefits: From £35,100 depending on experience plus bonus, 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’re Standard Life, a retirement specialist focused entirely on retirement savings and income. We champion the belief that everyone’s journey to and through retirement can be better, and for more than 200 years, we’ve been helping our customers plan and prepare for their financial futures. Life today is increasingly complicated, uncertain and unpredictable. People move through different careers, face unexpected moments and navigate important choices. We offer our colleagues flexibility, trust and benefits that work for whatever life brings. In return we expect curiosity, connection, accountability and high standards. We make room for what matters—so you can bring your best, every day.
The role provides valuable experience across reinsurance reporting, benefit analysis and data validation, helping ensure our reinsurance arrangements run accurately and efficiently. You’ll build strong technical and stakeholder skills while developing deep knowledge of pensions and bulk annuities. It’s an excellent foundation for someone aspiring to become an actuary, and we’re looking for someone who is motivated to progress toward qualification and committed to completing the actuarial exams.
Responsibilities:
- Generate regular account and collateral reports using our integrated reinsurance administration system.
- Check movement data received from Trustees and perform reasonableness checks on final deliverables produced by the administration system.
- Review annual data extracts to identify changes from the previous year and determine whether an update is required to reinsurance data.
- Produce annual exercise materials—including premium amounts and surrender values—timely using the reinsurance administration system.
- Analyse benefit specification to determine the structure and timing of benefits payable under the reinsurance arrangement.
- Provide oversight of complex member benefit calculations and member options with administrators to build up benefit knowledge and understand reinsurance benefit simplifications.
- Test new arrangements as they are implemented onto the reinsurance administration system to ensure benefits operate as set out in the benefit specification.
- Follow robust processes set out in supporting documentation and highlight any opportunities for process improvement.
- Ensure all work produced is clearly documented and has a suitable audit trail and version control.
- Apply best practices with respect to the management of our reinsurance contracts.
What are we looking for?
- A strong numerical degree (e.g. Mathematics) with a minimum 2:1 classification.
- Demonstrated interest in pursuing actuarial exams to enhance technical expertise and pursue a career as an actuary.
- An understanding of pension benefits and bulk annuity products; contribution to creation of bespoke models is desirable.
- Proven ability to meet and exceed performance targets by monitoring progress, prioritising tasks, and applying structured problem‑solving methods to resolve obstacles and deliver business outcomes.
- Actively pursues professional development by identifying specific technical or role‑related skill gaps, completing relevant training or certifications, and applying new learning to improve job performance.
- Knowledge of Microsoft Office, specifically Excel.
We are committed to ensuring that everyone feels accepted and welcome. 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.
Reinsurance Actuarial Analyst employer: Phoenix Group
At Standard Life, we pride ourselves on being an exceptional employer, offering a supportive and flexible work environment in our London office. With a strong focus on employee well-being, we provide generous benefits including 38 days of annual leave, private medical cover, and opportunities for career growth, all while fostering a culture of trust, accountability, and collaboration. Join us to make a meaningful impact in the Pension Risk Transfer sector and enjoy a workplace that values your contributions and personal development.
StudySmarter Expert Advice🤫
We think this is how you could land Reinsurance Actuarial Analyst
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like Phoenix Group. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Reinsurance Actuarial Analyst
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Phoenix Group.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Phoenix Group's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Phoenix Group
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Phoenix Group.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Phoenix Group will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Phoenix Group employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
