Reporting Actuary

Job Description Summary

In this role you will play a leading role in the calculation of the Solvency II Capital Requirement across all business lines as part of the Solvency II quarterly reporting process. Delivering quarterly and annual capital reporting and analysis (for non-profit and with-profits business), which will in turn inform the Company’s ability to pay dividends and meet its regulatory solvency requirements. Your work will be critical for maintaining the confidence of the Board and Prudential Regulation Authority in Aegon UK’s Solvency II Internal Model and for ensuring regulatory reporting requirements are met.

**Job Description**:
Please be aware that this role will be a 12 Month Fixed Term Contract/ Secondment.

Key Tasks:

- Take a leading role in the calculation of the Aegon UK Solvency Capital Requirement (SCR) in line with the approved internal model on a quarterly basis and analyse the movements in SCR over each quarter. This i
- ncludes the annual reporting requirements relating to SCR results.
- Support the preparation of the annual update to the Operational Risk model, ensuring a robust control framework is applied with a clear explanation of the results.
- Take a leading role in the preparation of the quarterly sensitivities in line with business requirements ensuring a robust control framework is applied with a clear explanation of risk drivers. This includes stress and scenario testing for ORSA, MTP, capital management and other purposes as necessary, and any PRA requests.
- Take a leading role in the calculation and analysis of out of sample proxy model testing.
- Take a leading role in the calculation of the capital projections required for MTP, capital management, run-off plan, with-profits estate distribution and other purposes as necessary.
- Support preparation of ad-hoc SCR analysis to support capital management activities and papers covering the SCR results as required.

**Skills**:

- Ability to plan and prioritise own work to achieve deliverables.
- Self motivated with strong sense of responsibility and ownership.
- Strong strategic and commercial awareness.
- Ability to analyse data, fit models and exercise judgement in order to make recommendations, that have highly material financial consequences, with clarity and conviction.
- Strong statistical skills and the ability to explain complex statistical outcomes to a less technical audience.
- Strong interpersonal skills with the ability to influence, and communicate effectively with stakeholders at all levels, including senior managers.

Knowledge:

- High level of mathematical, statistical and actuarial ability.
- A detailed understanding of the different statistical distributions and techniques that may be used to fit and aggregate loss models across different types of risk exposure.
- A good understanding of modelling with-profits business.
- A good understanding of the impact of financial markets and other external factors on solvency.
- A detailed understanding of the requirements of Regulatory (PRA) reporting and rules.
- A good understanding of stochastic modelling techniques and valuation of guarantees.
- A good understanding of proxy modelling techniques.
- A good working knowledge of the Solvency II rules.

**Experience**:

- Experience of UK life insurance regulation, capital management and reporting
- Experience of communicating and influencing at senior management level

Qualifications:

- Qualified actuary (fellowship level)

How We will Reward you:

- Non-contributory Pension between 8% and 12% dependent on age
- Annual Reward Scheme
- Opportunity to buy additional holidays, starting at 27 days plus 9 statutory
- Private health care and life assurance with additional voluntary benefits available
- Subsidised on-site restaurant

Equal Opportunity Employer: