At a Glance
- Tasks: Provide strategic advice and oversight on financial risks and balance sheet management.
- Company: Join Standard Life, a leader in retirement savings with over 200 years of experience.
- Benefits: Enjoy a competitive salary, generous leave, private medical cover, and flexible working options.
- Other info: Embrace a culture of curiosity, connection, and continuous improvement.
- Why this job: Make a real impact on financial strategies while enjoying a supportive and dynamic work environment.
- Qualifications: Qualified actuary with experience in life insurance and financial risk oversight.
The predicted salary is between 110000 - 127000 £ per year.
This role can be based from our London, Birmingham or Edinburgh offices with time spent working in the office and from home.
Flexible working: All 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: £110,000 to £127,000 dependent upon experience, plus an indicative bonus range of 30% to 60%, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.
Closing date: 31st July 23:59
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.
We are looking for an experienced financial risk professional with strong technical expertise and the confidence to apply that expertise to complex, strategic balance sheet issues. The successful candidate will be able to operate comfortably across both the detail and the bigger picture, understanding the technical drivers of solvency, liquidity, ALM and balance sheet performance, while also drawing out the key risks, trade-offs and strategic implications for senior stakeholders.
Purpose of the role: The Senior Financial Risk Actuary is a member of the Balance Sheet & ALM Oversight team. The key purpose of the role is to provide strategic advice, constructive challenge and effective Line 2 oversight in relation to the Group’s balance sheets and delivery of the company’s long-term financial strategy.
Important areas within the oversight scope of this role are: asset-liability management including hedging, Matching Adjustment, balance sheet optimisation, stress and scenario testing and oversight including Solvency UK, UK GAAP and IFRS 17 Balance Sheets and liquidity; capital management and the financial risks arising from the effects of climate change.
Key responsibilities:
- Support the Head of Balance Sheet & ALM Oversight in oversight of the Group’s balance sheets (Group and all UK legal entities) and delivery of the company’s long-term financial strategy, providing Line 2 advice, guidance and challenge to the business.
- Opine on material business decisions and assess whether key risks and trade-offs have been considered appropriately.
- Support the development and maintenance of effective and efficient Line 2 risk oversight activities that are proportionate and risk-based.
- Provide technical leadership and act as a positive role model within the team.
- Influence and constructively challenge senior stakeholder decisions.
- Work independently to deliver clear, high-quality reports and materials for senior stakeholders.
The successful candidate should lead by example, contribute positively to team culture and support wider team development through thought leadership, knowledge sharing and staying up to date with latest market practice.
What are we looking for?
- Qualified actuary with significant experience in a life insurer, regulator, consultancy or reinsurer.
- In-depth understanding of life insurance products (in particular PRT and annuities), regulatory frameworks (Solvency UK, IFRS 17, UK GAAP), and the principles of business planning, and balance sheet management and optimisation.
- Deep experience in the core technical areas of the role (i.e. balance sheet modelling and analysis, solvency & liquidity analysis, asset-liability management and hedging, Matching Adjustment and climate financial risks).
- Experience in financial risk oversight, including developing risk frameworks and setting risk appetite.
- Proven ability to work across teams and support the delivery of enterprise-wide change in a large, complex organisation.
- Experience working with board level and c-suite through verbal and written communication and presentations.
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. We’re reviewing applications as they come in and may close this role before the closing date, so apply early to avoid missing out.
Senior Actuary employer: Phoenix Group
Phoenix Group is an excellent employer, offering a dynamic work environment in the heart of Edinburgh where you can thrive as an Investment Operations Analyst. With a strong emphasis on flexibility through a hybrid work model, employees benefit from a supportive culture that prioritises operational excellence and collaboration with diverse stakeholders. Additionally, the company provides comprehensive benefits, including a competitive salary, bonuses, and generous leave, ensuring that team members are well-rewarded for their contributions.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Actuary
✨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
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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 Senior Actuary
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.
