Admiral Group is currently recruiting for someone to join an expanding Actuarial Function within our Head Office in Cardiff. This is an ideal opportunity for someone who is looking to start an actuarial career within a company where the award-winning culture is key to the success of the business. The Admiral culture rests on four pillars which form the foundation of working here – communication, equality, reward and fun. Admiral has a simple philosophy – “if people like what they do, they will do it better,” (Henry Engelhardt – founder and ex-CEO).
The role will start in September 2022 and include three one-year placements across the actuarial teams within the Group which include Reserving, Capital, Risk, Reinsurance and Investments. Each placement will involve interaction with other actuarial colleagues and teams. After three years, the actuarial trainee will have attained a good foundation in actuarial concepts across a variety of disciplines giving good opportunities for career progression.
As an actuarial trainee you will work towards an actuarial qualification (FIA, AIA) with the Institute and Faculty of Actuaries, with Admiral providing a generous study package to support you in achieving this.
Location
We are open to discussion around remote working possibilities (UK only). Our whole business is still working remotely. We will provide you with everything you need to work comfortably from home. We expect you to be working remotely for the foreseeable future. Once it’s safe to return to the office, you can agree your on-site days at the office with your Line Manager. Ideally we would like to see you at least once or twice a week at our Cardiff office but we do offer some flexibility depending on your location.
The Role
As a trainee joining one of our teams you will receive on the job training from subject matter experts that will help you to make a meaningful contribution to Admiral from day one and quickly progress to taking on additional responsibilities. Further formal development opportunities will be provided which will allow you to grow into someone who will help drive and promote actuarial work across the Group.
The flat management structure and increasingly global reach of Admiral Group means you will soon pick up a diverse range of skills and have contact with Senior Managers and Directors from early on in your career, giving a challenging but ultimately rewarding environment.
You will rotate through three placements within the Actuarial Function supporting both actuaries and other analysts. From day one you will be involved in a broad range of projects, working directly with a variety of different teams across the Group. Depending on the placement, areas you will support may include:
- Capital – the delivery of economic and regulatory capital requirement calculations involving focus on data, parameterisation, modelling, documentation and reporting.
- Reserving – assisting with the internal reserve reviews for different products such as Motor, Household and Van through the full process from data to reporting.
- Risk – contribution to a range of ‘second-line’ tasks which aim to provide review and challenge for the other financial and actuarial areas with a view to always add value through recommendations to manage the risks to Admiral.
- Reinsurance – supporting the placement of our reinsurance programmes through detailed analysis and understanding of both the relevant risks and wider reinsurance markets.
- Investments – a range of analysis to support our wider investment strategy with a view to managing market and liquidity risks whilst generating investment return and diversifying into new areas and markets.
Other more general responsibilities which are relevant across the teams include:
- The monitoring and maintenance of our requirements under Solvency II.
- Assisting in the delivery of regular MI and monitoring packs.
- Supporting the various regulatory and accounting workstreams where required.
- Building a close relationship with claims and pricing departments.
- Attending Port of Call meetings to develop an understanding of the wider business.
- Supporting both internal and external auditors in their review of our work.
Candidate Profile:
- Excellent academic background and strong numerical and analytical skills - a degree in a subject with a mathematical element (2:1 or equivalent) is preferred.
- Strong written and verbal communication skills and the ability to build relationships across different departments in the wider business.
- Good organisational skills and ability to prioritise and plan your own workloads.
- Proficient with Microsoft Office applications in particular Excel, Word and PowerPoint, with VBA, R and/or SAS experience a bonus.
- An eye for detail – an ability to delve into the detail behind the data/spreadsheets to challenge existing calculations.
- A strong work ethic - committed and enthusiastic about an actuarial career, with a genuine interest in actuarial issues.
Salary, Benefits and Work-Life Balance
We do not have a set salary for this position, as it will be dependent on the successful candidate’s experience. We are happy to see CVs from all candidates who meet the requirements and will be happy to discuss the remuneration package.
At Admiral, we are proud to be a diverse business where we put our people and customers first. We have great benefits to ensure employees have a great work-life balance; it's one of the reasons we have been consistently voted one of Sunday Times Best Big Companies to Work For in the UK. We want you to have an element of freedom to define a working lifestyle that supports this, so accommodate flexible hours wherever possible.
You can also view some of our other key benefits here; https://admiraljobs.co.uk/employee-benefits/.
If you think this role is for you and would like to be considered for this opportunity, please click “apply now” to complete an online application form.
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