Capital Methodology Actuary

Job Description Summary

People are living longer than ever before, and we’re excited by the opportunities this brings. As a purpose-led business, we’re focused on supporting our customers as they navigate through new stages of their lives and all the moments that matter. We’re here for everyone who wants to make the most of their time on the planet and leave it a little better than they found it - however grand or humble their ambitions. Working at Aegon, you’ll play an important part in helping achieve this. We have three behaviors that are central to how we operate as a team and a business: we step up, we tune in and we’re a force for good.

**Job Description**:
We have an exciting opportunity for a Capital Methodology Actuary to join our Capital Methodology Team. Reporting to the Head of Capital Methodology, you will play a vital role in delivering initiatives designed to transform and elevate capital methodology and assumption setting in Aegon.

The Role

The purpose of the role is to support the development, maintenance, validation and implementation of the methodology underpinning Aegon UK’s Solvency II Internal Model; and to undertake experience analysis and recommend updates to the best estimate assumptions underpinning the Solvency II technical provisions.

Key responsibilities

As Capital Methodology Actuary you’ll be responsible for:

- Supporting the development of Aegon UK’s aggregation methodology including proxy models, dependency assumptions and integration into the capital aggregation tool.
- Developing and maintaining other areas of our Solvency II methodology relating to technical provisions, solvency capital requirement (including underwriting, operational and pension scheme risks), risk mitigation techniques and future management actions.
- Undertaking experience analysis and developing recommendations for best estimate non-economic assumption for Solvency II and IFRS 17, presenting the recommendations to senior management.

**Skills**:
You’ll be a fully qualified actuary with the following skills:

- The ability to plan and prioritise effectively.
- Self-motivated with a strong sense of responsibility and ownership.
- Strong numerical, analytical and actuarial ability
- The ability to analyse data, fit models and exercise judgement in order to make recommendations with clarity and conviction.
- Strong written and verbal communication skills, with the ability to communicate effectively with key stakeholders.

Knowledge

You’ll have a good understanding of:

- the different statistical distributions and techniques that may be used to fit and aggregate loss models across different types of risk exposure.
- proxy modelling techniques.
- the impact of financial markets and other external factors on solvency.
- the requirements of Regulatory (PRA) reporting and rules.
- stochastic modelling techniques and valuation of guarantees.
- Solvency II rules.

How we look after you

Outside of a competitive salary, working with us comes with a range of benefits that you can access from day one, including:

- Non-contributary pension between 8-12%
- Life assurance cover
- Private medical cover and health assessments
- Access to
- Peppy
- a digital health app for employees of all genders with a range of support covering areas such as general health, menopause, fertility, baby etc
- Critical Illness cover
- A suite of enhanced parental leave policies to support you in the moments that matter
- Holiday trading
- Private GP appointments with Doctor at Hand
- Cycle2Work scheme
- 2 paid days per year for charitable volunteering
- Employee wellbeing is key to our culture. We offer a range of online classes to support this, including yoga and meditation

We champion a collaborative, supportive working environment where you’ll have the opportunity to develop yourself and your career in a way that works for you. Our reward programmes encourage peer-to-peer recognition, and we offer a discretionary annual bonus dependent on company and individual performance.

How we look after the community and the environment

Aegon supports local causes that align with our purpose and ambitions. Our goal is to serve and strengthen the communities where we do business and create a better quality of life for everyone. Our employees are encouraged to support charities they feel passionate about and are offered volunteering days.

Responsible investment is a key element of Aegon’s company-wide approach to sustainability. Aegon is committed to Environmental, Social and Governance (ESG) investing, we have over 30 years' experience managing responsible investments and offer over 200 responsible investment options across our platforms.

Flexible working

We’ve adopted a hybrid environment of remote and office working, so it’s important that you live within a commutable distance to our offices.

We know that people have busy lives and commitments outside of work, so we offer flexible work arrangements wher