Senior Actuary - Retail Reinsurance

Senior Actuary- Retail Reinsurance

London City – Hybrid (min 50% office based)

Who are Just?

We’re a FTSE 250 Financial Services company who specialise in retirement solutions and right now, our world is moving pretty quickly. With the defined benefit buy in / buy out space growing each year, Just continues to annually grow its business by over £4bn of assets.

We are a purpose driven company with compelling and credible goals. Quite simply, we help people achieve a better later life. We achieve this by providing competitive and innovative products, services, financial advice and guidance to help our customers achieve security, certainty and provide them with peace of mind in retirement.

That’s who we are. We’re a company on a mission: to become a beacon for the entire retirement industry. Because we believe everyone deserves a fair, secure, and fulfilling retirement.

Role Purpose

We have an exciting opportunity for a Senior Actuary to join the Retail Actuarial & Reinsurance (RAR) team at Just and lead the reinsurance function. As a Senior Actuary, you will manage and optimise the reinsurance of all Retail products, including providing expertise in the review and modelling of all technical aspects of those products and their reinsurance.

Reporting into the Retail Actuarial & Reinsurance Director, you will lead Retail Reinsurance function work, including the evolution & implementation of reinsurance strategy, the development of tools & MI and liaising with internal and external stakeholders to progress initiatives. You will also form part of the RAR leadership team and support or lead Pricing work where appropriate

Key Responsibilities:

• Develop and maintain tools and models to evaluate the attractiveness and effectiveness of existing and potential reinsurance arrangements for Retail products
• Perform regular analyses of the costs and benefits of Retail’s reinsurance arrangements.
• Ensure reinsurance treaty terms are well understood and accurately reflected in pricing, administration and valuation calculations and reports
• Support the Retail Actuarial & Reinsurance Director in, or lead where appropriate, negotiating, documenting and executing reinsurance arrangements to support business development, manage risk and optimise capital efficiency.
• Maintain close relationships with related departments to ensure a consistent understanding of financial metrics and impacts across pricing, reinsurance, valuation and capital management
• Explore solutions to optimise risk and capital management; liaising closely with Group Actuarial function and CM&I teams.
• Ensure data exchanged with reinsurers of Retail products is accurate, timely and secure
• Collaborate with other members of Retail Actuarial & Reinsurance leadership on wider team projects, initiatives and ensuring work is resourced across the function effectively

Skills and Experience:

• Qualified FIA, FFA or equivalent
• Degree in a mathematical subject, or equivalent
• Proven experience as Senior Actuary in the UK life /annuity industry
• Experience in working with longevity swaps and/or full quota share reinsurance for annuity business
• Able to manage multiple workloads and deliver within set timescales
• Experience in managing or mentoring junior team members
• Experience in drafting & reviewing technical documents
• Understanding of the industry and market
• Ability to maintain competence and up to date knowledge
• Strong analytical and modelling skills
• Ability to lead and influence others
• Excellent IT skills, particularly in Excel / VBA, with Python / other coding experience advantageous

Company Benefits

• A Competitive Salary, Pension Scheme and Life Assurance
• Along with 25 Days Annual Leave plus an Additional Day on us for your Birthday
• Private Medical Cover and Income Protection, just in case
• A generous and highly achievable bonus scheme – paid annually based on individual and company performance against targets
• Opportunity to progress within your career both in-role and within the company
• FREE access to the Headspace App, a 24/7 Employee Assistance Helpline and Trained Physical & Mental Health First Aiders (On-Site)
• A variety of Employee Funded Benefits available to you via our Online Benefits Portal
• Plus, several additional purchase options available for you and your loved one