Department function
To provide the necessary actuarial input to the financial management of the Company and its subsidiaries including appropriate input to the production of Board reports and preparation of returns to regulatory authorities. To recommend actuarial bases for policy, liability and premium calculations and to undertake the associated investigation work. The department provides detailed technical support to the Appointed Actuary.
Scope of job
The job has a high degree of autonomy in that the jobholder is expected to use his professional experience and judgement in dealing with a wide variety of actuarial and financial issues, a number of which are of an ad-hoc nature.
The jobholder will be a senior member of a dynamic department and as such is expected to undertake tasks relating to all aspects of the department’s function (as described above) and to train and review the work of less experienced actuarial colleagues.
Main duties and areas of responsibility
- Co-ordination of the statutory work of the department including the monitoring of the Society’s statutory solvency position.
- Develop and recommend premium bases
- Develop and recommend valuation bases
- Production of monthly business statistics involving liaising with the Accounts area
- Co-ordination of production and review of HMT returns
- Financial projections
- Complex client letters requiring actuarial input
- Various investigations and analyses for the Appointed Actuary and general management
- Actuarial control
- Deputizes for manager as necessary.
Education
Part-qualified or Qualified actuary with at least 3 years life office or life consultancy experience.
Work Experience
- Experience of working in a life office or life consultancy. Relevant specific experience might include:-
- Liability valuation
- Interpreting regulations and professional guidance
- Product pricing
- Prophet modeling
- Embedded values
Abilities and Attributes
- Able to express complex technical matters clearly, concisely and accurately both orally and on paper to a range of individuals including policyholders, auditors and all levels of management and staff
- Able to work under pressure to tight deadlines
- Maintains effective work in the face of setbacks or pressure
- Critically evaluates information/looks for potential limitations/can readily identify errors
- Analyses complex issues and breaks them down into their component parts, makes systematic and rational judgements based on relevant information
- Demonstrates a readiness to take the initiative and originate action as appropriate.
- Ability to focus on detail when necessary
- Able to manage own time effectively
- Able to manage projects
- Interacts with others in an effective way
- Influences others (at all levels) in a way that builds confidence and moves things smoothly towards successful conclusions
Other
Requirement to be flexible and work additional hours to meet the requirements of the job.
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