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- Tasks: Join our actuarial team to analyse and improve valuation processes.
- Company: Scottish Friendly, a progressive mutual life insurance office with 160 years of history.
- Benefits: Enjoy competitive pay, 25 days leave, remote work options, and wellness support.
- Why this job: Make a real impact in a collaborative environment while developing your actuarial skills.
- Qualifications: Strong Excel skills and a passion for learning about actuarial processes.
- Other info: Hybrid working model with excellent career growth opportunities.
Direct message the job poster from Scottish Friendly
Do you want to be part of something more than just a financial services business? Do you believe everyone, regardless of wealth, should have the opportunity to save and look after their loved ones? Do you want to be part of something that has been here for 160 years and help it be here for 160 more?
Scottish Friendly has an exciting opportunity to join our team. Based in Glasgow City Centre, we are one of the most progressive mutual life insurance offices in the UK. We have a strong, clear culture which has grown since 1862 with our customers and colleagues of today and the future being at the heart of that growth.
A fantastic opportunity has arisen to join the actuarial department, working within the valuation team.
The team are responsible for completing all aspects of the actuarial valuation, including setting the actuarial assumptions, defining the methodology, building and running the actuarial models and completing the analysis of results. The team also gets involved in lots of interesting and varied work, depending on the specific needs of the business – including supporting with responses to customer queries and continually developing and improving the actuarial function’s own processes.
The team work closely and collaboratively with each other, and with other parts of the business. This role will give you an unparalleled opportunity to understand the full end‑to‑end actuarial valuation process, and to develop your skills and experiences in all aspects of actuarial work.
In this role you will also have exposure to senior stakeholders, the wider actuarial team and colleagues in different departments across the business, allowing you to see how the work you are doing impacts the success of the Society.
This key role sits within the Actuarial Valuation Team and will report to the Valuation Team Leader.
Key Responsibilities
- Playing a key role in the regular valuation process and producing results to support the Valuation Manager;
- Completion of monthly data tasks and production of regular reinsurance account information;
- Carrying out annual experience analysis for assumption setting (persistency, mortality, expenses);
- Continued improvement of valuation processes and controls;
- Preparing reports for the Valuation Team Leader, Head of Actuarial Valuation, Chief Actuary and Committees;
- Preparing reporting submissions to Regulators and assisting with the production of the SFCR and Annual Report & Accounts.
Ideal Candidate
- Be a team player who likes to work collaboratively;
- Be enthusiastic and very keen to learn about more actuarial processes and systems and to develop themselves;
- Be capable of working independently, but also confident enough to reach out to ask for support / escalate issues in a timely manner;
- Have very strong problem‑solving skills, and be capable of thinking critically;
- Not be afraid to challenge the status quo and share their views and opinions with the team, by always striving to improve and make things better;
- Be able to demonstrate experience of operating processes in a controlled manner;
- Have outstanding Microsoft Excel skills;
Additional Preferences
- Have experience working within a life insurance company, ideally within an actuarial or finance function – but we would consider a more varied background if the candidate could show a good understanding of life insurance products.
- Have made some progress towards completing a formal actuarial qualification – although this is not necessarily essential for the role if a candidate can demonstrate relevant work experience.
- Have some experience using actuarial modelling software: for example, Risk Agility FM (or similar) and SQL.
- Have a basic understanding of the principles underlying actuarial valuations and Solvency II.
Benefits
- Recognition awards: Win exciting prizes, including one week’s annual leave plus £3,000 spending money.
- Refer‑a‑friend scheme: Earn rewards for bringing talented friends to our team.
- Annual Leave: 25 days annual leave (rising to 28 with service) plus 8 bank holidays, and options to buy or sell extra days.
- Supporting the future: 10% employer pension contribution, 4× group life cover.
- Getting around: Access to cycle‑to‑work schemes, Electric Vehicle scheme* and travel loans.
- Wellbeing: 24/7 GP access, EAP, Private Healthcare, and free legal/financial advice a variety of savings at top high street and online retailers.
- Hybrid model with up to three remote days per week, totalling 35 hours per week Monday to Friday.
We are committed to creating an inclusive environment where all colleagues feel valued, respected and represented. If you require any accommodations during the application process, please don’t hesitate to let us know.
Seniority Level
Mid‑Senior level
Employment Type
Full‑time
Job Function
Finance and Analyst
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Glasgow, Scotland, United Kingdom 19 hours ago
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Actuarial Analyst employer: Scottish Friendly
Contact Detail:
Scottish Friendly Recruiting Team
We think you need these skills to ace Actuarial Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Actuarial Analyst role. Highlight relevant experience, especially in actuarial processes and life insurance, and don’t forget to showcase those strong Excel skills we’re looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to express your enthusiasm for the role and the company. Share why you want to be part of Scottish Friendly and how you can contribute to our team.
Showcase Your Problem-Solving Skills: In your application, give examples of how you've tackled challenges in previous roles. We love candidates who can think critically and aren’t afraid to challenge the status quo!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands and helps us get to know you better!
How to prepare for a job interview at Scottish Friendly
✨Know Your Numbers
As an Actuarial Analyst, you'll be dealing with a lot of data and calculations. Brush up on your Excel skills and be prepared to discuss how you've used data analysis in previous roles. Maybe even bring a few examples of your work to showcase your abilities!
✨Understand the Valuation Process
Familiarise yourself with the actuarial valuation process and the key responsibilities mentioned in the job description. Be ready to explain how you would approach tasks like setting assumptions or preparing reports for senior stakeholders. This shows you're not just interested in the role but also understand its importance.
✨Show Your Team Spirit
Scottish Friendly values collaboration, so be prepared to talk about your experiences working in teams. Share specific examples where you contributed to a team project or helped improve processes. Highlighting your ability to work well with others will resonate with their culture.
✨Ask Thoughtful Questions
At the end of the interview, don’t shy away from asking questions! Inquire about the challenges the valuation team is currently facing or how they measure success in this role. This not only shows your interest but also gives you insight into what to expect if you join the team.
