Our client is seeking a Senior Actuarial Trainee to support the actuarial function of the company and assist in reaching its strategic targets. You will assist in the preparation of base financial results for Group, internal, and regulatory audiences, including completing calculations, reviewing methods, drafting reports, and providing recommendations where appropriate. The role also involves conducting office experience analysis, setting actuarial assumptions, and providing technical support by capturing and validating data from policy databases. Additionally, you will assist in identifying risks and providing reports based on analysis to ensure appropriate risk management.
Job Duties:
- Prepare calculations for reserves, economic value, solvency, capital, surplus, new business profit, and company forecasts.
- Prepare draft reports summarising financial results and identifying reasons for deviations from expectations.
- Prepare business experience investigations and reports.
- Assist in reviewing and maintaining actuarial models, identifying shortcomings, and implementing changes as advised by senior actuaries.
- Identify sources of actual profit/loss experienced and expected in the future.
- Assist in preparing Business Plan results.
- Conduct investigations into office experience such as loss ratios, disability claim duration, lapse rates, and reporting delays.
- Identify key risks through analysis of financial results, profitability, and policy data, and report results with recommendations.
- Prepare and explain reports in written and verbal formats.
- Consider policyholders' reasonable expectations and consumer duty.
- Support senior actuaries as directed and collaborate effectively with colleagues across the business.
- Progress through actuarial exams and keep knowledge up to date to meet business requirements.
- Ensure compliance with regulatory, professional, and company standards.
- Report operational risk events in a timely manner and contribute to a culture of risk awareness.
Job Requirements:
- Strong numerical, analytical, and problem-solving skills.
- Systematic and logical approach to work.
- Excellent time management, organisational, and prioritisation skills.
- Results-focused and deadline-driven.
- Detail-oriented with a focus on accuracy.
- Strong communication skills in explaining complex information clearly.
- Self-starter with the ability to work independently.
- Ability to establish strong relationships at all levels.
- High professional and personal standards.
- A Levels or International Baccalaureate with A in Maths (minimum 260 UCAS points).
- Degree in Maths, Statistics, or a similar field (minimum 2.1) if graduate.
- Ideally, at least one year's experience in life insurance actuarial work.
- Progress in actuarial exams and understanding of the actuarial function.
- Experience in Excel functions and Microsoft Office (Excel, Word, PowerPoint).
- Ability to learn actuarial modelling software.
What You’ll Love:
Our client offers a collaborative environment that encourages professional growth. As a Senior Actuarial Trainee, you will work closely with senior actuaries and have opportunities to develop expertise in various actuarial processes. The company fosters a supportive atmosphere where you can make a significant impact within the actuarial department while progressing through actuarial exams and enhancing your technical skills. You will gain exposure to critical financial reporting, risk management activities, and actuarial modelling, positioning you for long-term career development within the company.
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