Reinsurance Actuary

Reinsurance Actuary - Salary is £65,000 - £71,000 (National) or £70,000 - £85,000 (London)

Location: Norwich/London/York
- We are currently recruiting for a Reinsurance Actuary to be a part of our phenomenal Reinsurance Operations teamIf you have experience working in Defined Benefit pensions or annuity insurance/reinsurance administration and are seeking a new challenging opportunity to play a key role in overseeing the growing portfolio of annuity reinsurance then come join our team, this role could be ideal for you.- A bit about the job:
- The Reinsurance Operations team has sole responsibility for the on-going administration of all in force reinsurance arrangements within Retirement Solutions.- They play a key role within Aviva, by working with reinsurance companies and pension schemes to design and administer capital efficient solutions that effectively manage risk for Aviva. It is a key function for Aviva to be able to meet its strategic ambitions.- As one of the Reinsurance Actuaries, you will get involved in a broad range of activities relating to the oversight of reinsurance arrangements. For example, carrying out and checking analysis of insured data extracts to identify changes for a portfolio of reinsurance arrangements, and then calculate the updated reinsurance premiums using the new dataset. As a team we are very supportive and pride ourselves on the accuracy of the work we deliver, always striving for ways we can improve processes to reduce risk and increase efficiency - everyone in the team plays a key role in meeting this goal.The role’s main duties & responsibilities:- Checking / reviewing accurate account and collateral materials for a portfolio of reinsurance arrangements, ensuring a robust control framework and audit trail process is adhered to.
- Checking / reviewing annual calculation of the revised Premium Schedule and any over/under payment due.
- Assisting / reviewing on-boarding of all new reinsured schemes onto the reinsurance administration system within a timely manner.
- Appetite to become involved in team management responsibilities including line management of others.
- Leading on ad hoc projects to harmonise Reinsurance Operations practices across the wider Aviva business.- Skills and experience we’re looking for:
Knowledge of defined benefit pension specifications.
- Strong numerical skills and a good attention to detail.
- Ability to work in a structured and organised way, and to manage multiple deadlines, to ensure that all tasks are completed on time.
- Excellent communication skills essential for building key relationships with both internal and external stakeholders.What you’ll get for this role:- Salary is £65,000 - £71,000 (National) or £70,000 - £85,000 (London) (depending on location, skills, experience and qualifications).
- Bonus opportunity - 10% of annual salary. Actual amount depends on your performance and Aviva’s.
- Generous pension scheme - Aviva will contribute up to 14%, depending on what you put in.
- 29 days’ holiday plus bank holidays, and you can choose to buy or sell up to 5 days
- Make your money go further - Up to 40% discount on Aviva products, and other retailer discounts
- Up to £1,200 of free Aviva shares per year through our Matching Share Plan and share in the success of Aviva with our Save As You Earn scheme
- Brilliantly supportive policies including parental and carer’s leave
- Flexible benefits to suit you, including sustainability options such as cycle to work
- Make a difference, be part of our Aviva Communities and use your 3 paid volunteering days to help others
- We take your wellbeing seriously with lots of support and tools- Take a look to learn more. Put a salary into this calculator to see what your total Aviva Reward could be.- Aviva is for everyone:
- We flex locations, hours and working patterns to suit our customers, business, and you. Most of our people are smart working - spending around 50% of their time in our offices every week - combining the benefits of flexibility, with time together with colleagues.