Actuary

Job Type: Permanent

Location: This role is to be based in our Dublin office on St Stephen's Green with time spent working in the office and from home.

Flexible working: All of our roles are open to part-time, job-share and other types of flexibility. We will discuss what is important to you and balancing this with business requirements during the recruitment process.

Salary and benefits: Competitive salary, up to 32% target bonus, 10% contributory pension (matched up to a further 2%), 12x salary life assurance policy, medical & lunch allowances, 25 days annual leave, 3 volunteering days, educational assistance, career breaks, hybrid working and much more.

Who are we?

We are the UK’s largest long-term savings and retirement business and we’re also one of Ireland’s largest financial services companies. We have around 8,000 colleagues across the UK and Europe, supporting 13 million customers, with around 300 billion of assets under administration.

We have brought together businesses with long and successful histories and many different strengths, and now we are stronger than the sum of those parts. Having a compelling corporate brand in Phoenix Group, while retaining our market-leading customer brands (Standard Life, ReAssure, Sun Life and Phoenix Life), enables us to create powerful value for all our audiences and make a real difference to the lives of millions of people.

We currently have an exciting opportunity for a Qualified Actuary to join our Actuarial Function team in Dublin to execute specific and regular actuarial processes. The primary responsibilities of the Actuarial Function team are to support the Head of Actuarial Function (HoAF) sign off of Solvency II results and methodology (including Technical Provisions, SCR, Profit & Loss Attribution), review best estimate bases for non-economic assumptions, and provide annual opinions on Technical Provisions and Underwriting.

Key Responsibilities

Solvency II

• Co-ordinate and monitor the evaluation of Solvency II results, and oversee general coordination of the governance and sign-off of the calculations. This includes reviewing the appropriateness of:
  • the methodology, models and processes used;
  • the assumptions, quality of data and modelling granularity used;
  • the analysis of change, and
  • approximations and limitations
• Support the HoAF in the production of the annual Actuarial Opinion on Technical Provisions (AOTP) and the Actuarial Report on Technical Provisions (ARTP)

Basis and Methodology

• Support the HoAF in setting appropriate best estimate bases for non-economic assumptions, and co-ordination of these updates with teams in UK and Germany
• Support regular review of actual versus expected experience
• Review proposed methodology changes and support regular review of methodologies, deep dives etc.
• Prepare Committee and Board papers for governance approval of all assumption and key methodology papers

Underwriting & Pricing

• Support the HoAF in the production of the annual Underwriting Opinion
• Support the HoAF in reviewing proposals for new initiatives, pricing and product development updates etc. as well as regular product and pricing reviews.
• Support attendance at the Product, Pricing and Profitability Committee (PPPC) representing the Actuarial Function, including providing feedback on new proposals and ensuring that appropriate actions are taken in financial reporting for any changes in the business.

Other Role Requirements

• Support the HoAF in performing their regulatory duties, including their ongoing relationship with the CBI and issue resolution processes under the intra-group reinsurance agreements.
• Develop and maintain internal relationships within SL Intl (in particular the Finance and Risk functions) as well as the Life Actuarial and Life Finance functions within the Phoenix Group.
• Provide support and key input into various changes or projects within SL Intl (and wider Group) where required.

What We’re Looking For

• Qualified Actuary
• Experience in life insurance industry, in particular with unit-linked, annuities, and with-profits business
• Knowledge of Solvency II Standard Formula methodology and its application in calculations an advantage
• Familiarity with the HoAF’s statutory responsibilities
• Excellent communication skills (written and verbal), both with a technical actuarial audience and also simplifying the communication of technical issues to a non-technical audience.
• Ability to understand key issues quickly and to form sound judgements on what is important

What We Offer

Bring your ‘whole self’, skills and dedication to the Phoenix Group and we’ll recognise your effort, support your development and help to drive your ambition. We’ll ensure you’re rewarded for your contribution with a competitive package that includes an attractive pension, annual bonus potential, private medical insurance, generous holiday entitlement, enhanced maternity and adoption leave and a range of other financial services and lifestyle flexible benefits.

Join us and you join a unique organisation. It’s not just the 14 million policyholders we serve, or the £300 billion of assets we look after. Or that we’re a FTSE 100 company that has been listed as one of the UK's Top Employers for nine years running.  It’s our talented, inclusive and diverse workforce that makes us a success.  We offer flexible working opportunities ensuring we attract and retain the very best of talent. Find out about more about our people’s stories, our values and our commitment to diversity.

Online Interviews and Onboarding

All our interviews, onboarding and new joiners are now managed remotely.  We have in place a strong virtual support network to ensure new colleagues are supported and developed as they navigate their first few months with us

We value diversity in our workforce and welcome enquiries from everyone.

#LI-SM2

#LI-HYBRID