Actuary

Contract type: Permanent Full Time 35 hours per week
Location: Edinburgh

Working style: Hybrid 50% home/office based

Excellent Benefits Package

We are looking for a talented, experienced Actuary to join our Protection Commercial Team and lead our reinsurance activity. Reporting to the Protection Commercials Lead, you will be responsible for maintaining strong relationships with our reinsurance partners, securing optimal reinsurance terms through tender negotiations and ensuring timely resolution of reinsurer queries.  

This is an exciting opportunity to be part of a dynamic and supportive team that works together to deliver great outcomes for our customers, members and advisors. 

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About the role

• Responsible for managing regular reinsurance activity, including the oversight and timely resolution of reinsurer queries, provision of accurate MI and reviews of treaty and process documentation.
• Maintain strong reinsurer relationships, organise and lead reinsurance account meetings, including agenda planning and the preparation of engaging content.
• Develop and own a rolling reinsurance tender plan, using an understanding of claim experience trends to inform and influence the wider reinsurance strategy.
• Co-ordinate tender activity and lead the commercial analysis, negotiation and recommendation of the optimal reinsurance terms.
• Carry out financial analysis using complex actuarial and analytical techniques to support team, department or wider business planning and other activities as required.

• Provide specialist advice and interpretation of results to colleagues and senior managers across the department and the wider business.
• Challenge and make improvements to data, processes, procedures, and documentation to make them more accurate and/or efficient.
• Write and present reports to colleagues and senior managers across the department and the wider business.

About you

• Experienced Actuary (FIA or FFA) with excellent understanding of the actuarial concepts and techniques required to fulfil the role.
• Previous experience working at a reinsurer or as part of a reinsurance team at a life insurance office.
• Excellent understanding of life insurance business including competitors’ products and the reinsurance market.
• Highly numerate with excellent problem-solving skills and attention to detail.
• Excellent time management and organisation, with a genuine desire to take ownership of actions and work collaboratively in a hybrid working environment to drive results.
• Strong ability to communicate in a professional manner and build positive working relationships with colleagues and senior managers both across the business and externally.
• Motivated by working in financial services, insurance, protection and reinsurance, with a desire to make a positive impact.
• Good knowledge of using Microsoft Excel and SQL.

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If you feel you’d be a great fit for Royal London but don’t meet every requirement, we’d still love to hear from you. Research shows some candidates are less likely to apply unless they meet 100% of the criteria - if you meet most requirements and are keen to learn, we encourage you to apply!

About Royal London

We’re the UK’s largest mutual life, pensions and investment company, offering protection, long-term savings and asset management products and services.   

Our People Promise to our colleagues is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by our Spirit of Royal London values; Empowered, Trustworthy, Collaborate, Achieve. 

We've always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance.

Inclusion, diversity and belonging

We’re an inclusive employer. We celebrate and value different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills which are recognised and respected – whatever their background. 

To help us manage applications effectively, we reserve the right to close this vacancy early once we have received a high number of applications or identified enough suitable candidates for the next stage of the process. We encourage you to apply as early as you can.