Admiral Group is currently recruiting for an Actuarial Trainee to join the Financial and Actuarial Risk team. This position could also be ideal for a more experienced person who is looking for a change of direction. 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.
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.
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 rewarding environment.
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. 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 the work we do
- Key areas we were involved with:
- Reserve reviews to provide the Group Audit Committee and Group Board comfort over the IFRS best estimate and recommended booked reserves
- Review of the capital plan and capital requirements
- Stress and Scenario testing to support the Group, ORSA and Regulatory requirements.
- Actuarial Function reports completed for the Board, an annual regulatory requirement
- Investment and intragroup papers considering risks and recommendations for managing financial risk within the Group
Main Duties
As an Actuarial Trainee working in the Risk function, the successful candidate will contribute 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.
The successful candidate can expect to have exposure to all the fundamental areas of Actuarial work including Reserving and Capital. In addition, the candidate can expect to be involved in the Stress and Scenario testing for the Group.
Other more general responsibilities will 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.
- Supporting both internal and external auditors in their review of our work.
Key Skills, Qualifications and Experience
- Excellent academic background and strong numerical and analytical skills - a degree in a subject with a significant 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.
- An eye for detail – an ability to delve into the detail behind the data/spreadsheets to challenge existing calculations.
- A strong work ethic with a genuine interest in Financial and Actuarial risk.
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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