Senior Actuary

Senior Actuary

6 Month Contract

Via Umbrella

UK Based (Edinburgh/London/Birmingham)

Our Life and Pensions client require a number of Senior Actuaries to help support on an exciting project for an initial 6-month contract.

The role

Working closely with the Reinsurance Operations Lead, you will support many aspects of the overall reinsurance operations journey, the role would fit somebody looking for a challenge and has experience in ensuring reinsurance arrangements are administered efficiently and accurately.

Key responsibilities will include:

• Ability to complete a reinsurance reconciliation to establish whether the administration of the reinsurance is in line with those specified under the reinsurance treaty, this includes:
  • Identifying and reconciling any differences underlying inception data
  • Identifying and reconciling actual vs revised claims and premium projections since inception
  • Reconciling movements since inception
  • Reconciling lump sum settlements since inception
  • Assessing and implementing the impact of any reconciliation on collateral calculations
  • Preparing comprehensive reports detailing the results of the reconciliation of management
• Designing and creating sophisticated cashflow project models (using excel) for the projection of premium, claims, lump sum calculations and collateral valuations.
• Responsible of ensuring historic basis reviews were implemented accurately
• Acts as a key point of escalation in dispute resolution processes, effectively addressing issues and facilitating discussions to achieve timely and satisfactory outcomes
• Establishing and implementing processes ensuring templates are clearly documented and have a suitable audit trail and version control. Creating models and practises to ensure compliance and mitigate risks
• Work with software architects, technology, and data teams to define requirements for, design, and support the development of a centralised reinsurance treaty administration database, ensuring accurate storage and management of contract terms and ongoing reinsurance data.
• Configure, test, and validate reinsurance arrangements within the reinsurance administration system, ensuring calculations, cashflows, collateral mechanics, and contractual benefits operate in line with agreed benefit specifications.
• Develop and test end-to-end data feeds underpinning reinsurance operations, ensuring data completeness, accuracy, auditability, and effective resolution of defects to support ongoing administration and reporting.

What are we looking for?

• Have 5+ years' experience working within the pensions and/or life and/or longevity reinsurance space
• Extensive knowledge and experience of completing reinsurance reconciliations
• Thorough technical understanding of Defined Benefit pensions
• Ability to communicate effectively with a technical actuarial audience and simply communication of technical issues to a non-technical audience
• We are looking for an individual who prides themselves on building and maintaining quality stakeholder relationships and has a keen eye for detail.
• Extensive commercial knowledge of pension de-risking products including bulk annuities and longevity swaps would be desirable

If this role sounds of interest, please apply and I will call you to discuss.

Guidant, Carbon60, Lorien & SRG - The Impellam Group Portfolio are acting as an Employment Business in relation to this vacancy.