Financial Risk Actuary

This is a fantastic opportunity for an Actuarial / Risk professional to join the Actuarial and Financial Risk Team within Admiral.

This role would be suitable for a part / nearly qualified Actuary, but we welcome applicants from other Financial or Risk backgrounds. You will work towards an actuarial qualification (FIA, AIA) with the Institute and Faculty of Actuaries or other relevant professional qualification, with Admiral providing a generous study package to support you in achieving this.

You will be involved in the review and challenge of work completed by the first line finance and actuarial teams in the UK. You will also support, and review work completed by the risk and actuarial functions within Admiral’s overseas underwriting entities covering France, Spain, Italy and the USA. The successful candidate will have the opportunity to shape their role and get involved in all areas across the team spanning the Actuarial and Financial areas.

The Financial and Actuarial Risk Team is a relatively new team established in 2020 to provide a Group focus on key financial risks within the Group. The team has grown rapidly and currently has nine team members, primarily actuaries. Team members work flexibly in their roles and support other team members as well as the wider Group Risk Team. The strong Admiral culture is important to the way in which the Team works.

Snapshot of what we did last year…

• Key areas the team were involved with during 2023:
• Reserve reviews to provide the Group Audit Committee and Group Board comfort over the IFRS best estimate and recommended booked reserves
• Actuarial Function reports completed for the Board, an annual regulatory requirement
• Completion of Annual ORSA report for UK entities, an annual regulatory requirement
• Completion of annual validation of the Internal Model     
• Review of the capital plan and capital requirements
• Several investment and intragroup papers considering risks and recommendations for managing financial risk within the Group

Main Duties

You will have the opportunity to:

• Assist the business in its desire to identify, measure, monitor, manage and report financial risks across the group
• Support with quarterly/ annual reserve reviews for different lines of business
• Support the production of the annual ORSA report for Board approval
• Carry out annual exercise to quantify impacts of the stress and scenario tests for the Group
• Provide support in Internal Model application process through validation of different model components
• You will support the development and production of the Actuarial Function Reports
• Support with IFRS17 and Reinsurance
• Opportunity to present to Model Governance Committee and Reserving Committee.

Key Skills, Qualifications and Experience

Essential

• 4-5 years of work experience within insurance/ financial industry
• Knowledge of Solvency II regulations
• Excellent communication – both written and interpersonal skills to liaise with people in different parts of Admiral
• Ability to work independently and proactively as well as supporting a team
• Attention to detail, with an analytical and problem-solving mind

Salary, Benefits and Work-Life Balance

We have a competitive remuneration package which will reflect the skill and experience of the candidate. 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’re consistently voted one of the 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.

All colleagues will receive 33 days holiday (including banks holidays) when they join us, and this will increase with length of service, up to a maximum of 38 days (including banks holidays). You also have the option to buy or sell up to five days of annual leave in addition to your allocation.

You can also view some of our other key benefits here.

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