Reinsurance Actuarial Analyst

Job Description

Job Type: Permanent

Location: London or Edinburgh (working three days per week in the office)

Flexible working: All of our 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. Y ou can read more about flexible working here.

Salary and benefits: From £37,700 depending on experience 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

Closing Date: 14th August

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.

This 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.

• Generating regular account and collateral reports using our integrated reinsurance administration system
• Checking movement data received from Trustees and reasonableness checks on final deliverables produced by the administration system
• Reviewing annual data extracts to identify changes from the previous year and determining whether an update is required to reinsurance data
• Timely production of annual exercise materials, including premium amounts and surrender values, using the reinsurance administration system
• Analysis of benefit specification to determine the structure and timing of benefits payable under the reinsurance arrangement
• Helping to provide oversight of complex member benefit calculations and member options with our administrators in order to build up benefit knowledge and understand reinsurance benefit simplifications
• Testing new arrangements as they are implemented onto the reinsurance administration system to ensure the benefits are operating as set out in the benefit specification
• Follow robust processes set out in supporting documentation, highlighting any opportunities for process improvement that may arise
• Responsible for ensuring all work produced is clearly documented and has a suitable audit trail and version control
• Following the best practices with respect to the management of our reinsurance contracts
• We are looking for an individual who prides themselves on building and maintaining quality stakeholder relationships with a keen eye for detail

• A strong numerical degree such as Mathematics with a minimum 2:1 classification
• Demonstrated interest in pursuing actuarial exams to enhance their technical expertise and pursue career as an Actuary
• An understanding of pension benefits and bulk annuity products whilst contributing to the creation of bespoke models would be 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.

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.

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