Edinburgh

Glasgow

London

Macclesfield

Intern

Graduate

Part Qualified

Qualified

Senior Actuary

Life

Investments

Pensions

Data

Risk

Systems

Modelling

Bulk Annuities

Pricing

Valuation

Capital

Longevity

Excel

MG-ALFA

Royal London is a UK-based mutual life and pensions company. Founded in 1861, it provides a range of financial products and services, including life insurance, pensions, and investment solutions. Royal London operates on a mutual basis, meaning it is owned by its members and operates for their benefit rather than external shareholders.

Royal London

Job Title: Senior ActuaryContract Type: PermanentLocation: Alderley Park / LondonWorking style: Hybrid 50% home/office basedClosing date: 21st May 2025We are looking for a Senior Actuary to join our Finance & Actuarial team. This role is crucial in providing specialist actuarial advice and analysis required by the Group. You will act as a technical expert as well as leading and managing a highly specialist team of actuarial professionals.About the Role:<ul><li>Responsible for the delivery of Longevity & Expense assumptions for BE and Risk Calibration.</li><li>Utilise understanding of industry best practice in assumption setting to enhance existing methodologies.</li><li>Manage the performance and development of direct reports.</li><li>Monitor and check the quality of financial analysis performed by team members.</li><li>Identify and make improvements to areas in processes with high levels of risk or control failure.</li><li>Write and coordinate the writing of reports and documentation.</li><li>Maintain and improve systems/processes used within the required level of governance.</li><li>Provide actuarial support and leadership to projects as required.</li></ul>About You:<ul><li>Actuary (FIA or FFA) with relevant professional experience.</li><li>Highly developed communication skills, both verbal and written.</li><li>Excellent understanding of life and pensions products, including competitors’ products.</li><li>Adept with risk calibration assumptions, expense assumptions and longevity assumptions.</li><li>Proven ability to lead, manage, and motivate a team.</li><li>Desire for continuous self-improvement and professional development.</li><li>Adaptive to change and forward-thinking.</li></ul>About Royal London:We’re the UK’s largest mutual life, pensions and investment company, offering protection, long-term savings and asset management products and services.Our People Promise to our colleagues is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by our Spirit of Royal London values: Empowered, Trustworthy, Collaborate, Achieve.Inclusion, diversity and belonging:We’re an Inclusive employer. We celebrate and value different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills which are recognised and respected – whatever their background.

Royal London is entering a very exciting period of growth, having recently announced both its commitment to enter the Bulk Purchase Annuity market and its acquisition of later life lending specialists Responsible Life and Responsible Lending.Later life lending through equity release and lifetime mortgages is important to Royal London given the option it provides customers to utilise their property wealth as a tool to contribute towards financial resilience in retirement. The product is also important given the role mortgage backed assets can play in supporting the profitability of our annuity business.This is a new role which provides a unique opportunity to join our recently formed Equity Release Funding team – part of our annuity business - and play a key role in the development of this new venture through leading pricing activity to ensure its future success.About the role<ul><li>You will lead the pricing activity for our equity release mortgage funding proposition, carrying our reprices and optimising our pricing methodology to maximise performance and ensure our business objectives are met.</li><li>You will collaborate with our equity release lending partner and the wider business to develop existing and new propositions that drive profitability for Royal London, determining suitability from a funding perspective and establishing new pricing methodologies.</li><li>You will monitor the performance of Royal London’s ERM funding proposition, developing an appropriate performance MI, providing regular reports to management and presenting at governance or oversight committees as required.</li><li>You will lead the continuous improvement of our pricing toolkit and processes to optimise origination and drive operational efficiencies.</li><li>You will support ad-hoc projects by providing input from a pricing perspective.</li></ul>About you<ul><li>You will be a qualified actuary with strong post qualification experience.</li><li>You will have strong commercial acumen and have experience in product pricing roles – with experience in equity release mortgage pricing extremely desirable.</li><li>Experience in asset restructuring and asset liability modelling is also very desirable.</li><li>You will have a very good understanding of the components of the Solvency II balance sheet and the Matching Adjustment.</li><li>You will thrive at problem solving and take an analytical approach to your work with high attention to detail.</li><li>You will have excellent Excel skills and significant experience of using and developing actuarial models.</li><li>You will be highly pro-active and capable of working autonomously, with very strong communication and stakeholder management skills.</li></ul>About Royal LondonWe’re the UK’s largest mutual life, pensions and investment company, offering protection, long-term savings and asset management products and services.Our People Promise to our colleagues is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by our Spirit of Royal London values; Empowered, Trustworthy, Collaborate, Achieve.We've always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance. You can see all our benefits here - Our BenefitsInclusion, diversity and belongingWe’re an Inclusive employer. We celebrate and value different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills which are recognised and respected – whatever their background.

Job Title: Senior ActuaryContract Type: PermanentLocation: Edinburgh, Alderley Edge, or LondonWorking style: Hybrid 50% home/office basedWe are seeking a highly skilled and experienced Senior Actuary to join our Annuities team in our Edinburgh, Alderley Edge, or London offices. The annuity business is a key area of growth for Royal London. This role is within Royal London’s Annuities team as part of the team responsible for delivering our annuities and Bulk Purchase Annuity (BPA) strategy. The ideal candidate will have a strong analytical mindset, exceptional problem-solving skills, and a deep understanding of insurance principles and practices. If you are a seasoned actuary looking for a challenging opportunity to make a significant impact in the insurance industry, we invite you to join our team as a Senior Actuary.You will work closely with the Bulk Purchase Annuity (BPA) teams and Colleague Pensions team, as well as a number of stakeholders across the business. The role will be primarily to support the Head of Internal BPA Transactions in shaping and developing the strategy and proposition relating to Royal London’s internal defined benefit pensions schemes, and to support the delivery and execution of the transactions.About the role<ul><li>Carry out financial analysis using complex actuarial and analytical techniques to support team, department or wider business planning and other activities to allow the department and business to deliver strategic and tactical objectives.</li><li>Monitor and check the quality of the financial analysis performed by team members to ensure accuracy and provide feedback to the originator.</li><li>Work closely and effectively with stakeholders across the business to design solutions that meet the objectives of the team and the wider business.</li><li>Understand the implications of the solution design on downstream processes, supporting the relevant teams in embedding new processes.</li><li>Ensuring consistency with wider strategy and solution design of the BPA teams.</li><li>Supporting the BPA teams in developing solutions that are in line with industry best practice.</li></ul>About you<ul><li>Qualified Actuary with excellent understanding of the actuarial concepts and techniques required to fulfil the role.</li><li>Strong stakeholder management.</li><li>Ability to communicate in a professional manner with colleagues, senior managers, committees, and board and to third parties and external bodies.</li><li>Highly numerate and excellent problem-solving skills.</li><li>Excellent understanding of life and pensions products including competitors’ products.</li></ul>About Royal LondonWe’re the UK’s largest mutual life, pensions, and investment company, offering protection, long-term savings and asset management products and services. Our People Promise to our colleagues is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by our Spirit of Royal London values; Empowered, Trustworthy, Collaborate, Achieve.We've always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance. You can see all our benefits here - Our BenefitsInclusion, diversity and belongingWe’re an Inclusive employer. We celebrate and value different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills which are recognised and respected – whatever their background.

An exciting opportunity has arisen to join our Product Commercials team on a permanent basis. The team is focused on managing the pricing and commercials of the products across the Royal London Group. The team works together to deliver great outcomes for our customers and members.As an Actuary (Defined Benefit pensions), you would be Royal London’s product owner for Defined Benefit pensions, with work ranging from responding to pricing queries to supporting development of Royal London’s strategic plan for the management of Defined Benefit pensions. You would be responsible for working closely with the outsourcer who manages Royal London’s Defined Benefit pension schemes.About the role<ul><li>Ensuring the product is designed and managed in a way consistent with regulations and Royal London strategy.</li><li>Provide management / oversight of the commercial arrangements underpinning Royal London’s Defined Benefit pension schemes, and to ensure arrangements are appropriate and effective.</li><li>Work with other stakeholders to manage the P&amp;L of the Defined Benefit pensions, and support development of Royal London’s strategic plan for managing Defined Benefit pensions.</li><li>Respond to pricing queries (e.g. calculating Transfer Values for individual members or agreeing AMCs on schemes).</li><li>Support the delivery of product specific changes and manage the processes / calculations required to support Royal London’s outsourced arrangement and make updates when appropriate.</li><li>Communicate with range of relevant stakeholders, including Long Standing Customer area, Finance, Supplier Management and Procurement.</li><li>Forge strong relationships with internal colleagues and supplier counterparts.</li><li>Identify, measure, assign appropriate ownership, manage, and monitor all risks and controls in line with the RCSA methodology. Escalate any issues deemed significant in accordance with the Risk Management System (RMS).</li></ul>About you<ul><li>Qualified actuary (FIA or FFA) with relevant professional experience.</li><li>Relevant experience of Defined Benefit pension schemes.</li><li>Self-motivated and pro-active.</li><li>Excellent problem-solving skills, and able to suggest ways of improving things.</li><li>Strong stakeholder management skills (with internal and external stakeholders)</li><li>Commercially astute.</li><li>Understanding of financial services industry and the legislative/regulatory framework.</li></ul>About Royal LondonWe’re the UK’s largest mutual life, pensions and investment company, offering protection, long-term savings and asset management products and services.Our People Promise to our colleagues is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by our Spirit of Royal London values; Empowered, Trustworthy, Collaborate, Achieve.We've always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance. You can see all our benefits here - Our BenefitsInclusion, diversity and belongingWe’re an Inclusive employer. We celebrate and value different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills which are recognised and respected – whatever their background.

Working style: Hybrid 50% home/office basedAre you passionate about numbers, analysis, and risk management? We have an exciting new opportunity for you to kickstart your career as an Actuarial Trainee at Royal London. As an Actuarial Trainee, you will be exposed to a dynamic and fast-paced environment where you will work alongside a team of experienced actuaries and gain exposure to a wide range of actuarial projects and responsibilities. You will have the opportunity to learn and apply actuarial techniques to analyze data and develop financial models.We are seeking a highly motivated and analytically minded individual to join our team as an Actuarial Trainee in our Edinburgh, Alderley Edge, or London offices. You will play a crucial role in helping assess and mitigate our risks. This is an excellent opportunity for an actuarial student who is making good progress through the exams to develop their career, gain exposure in a strategically important business area and be part of our ambitious journey with Royal London.The role will sit within the Insurance Risks team which has the following key responsibilities:<ul><li>Development of Methodology & Assumptions for use in pricing and valuation of insurance risks</li><li>Development of Insurance Proposition to retain/create value</li><li>Delivery of risk management initiatives to optimize return on capital and operating profit</li><li>Development of End-to-End management process for Insurance Risk</li></ul>The successful candidate will be partly qualified and studying towards the Institute and Faculty of Actuaries (IFoA) examinations with a minimum of 4 exams having already been successfully attained (not exemptions).About the role<ul><li>Undertake technical analysis using standard actuarial and analytical techniques in accordance with agreed guidelines and methodology.</li><li>Carry out reasonableness checks of own work to minimize errors.</li><li>Check work of a technical or complex nature, providing feedback to the originator.</li><li>Identify areas in processes which have a high level of risk or control failure and escalate to team manager, with suggestions for improvements.</li><li>Challenge and make improvements and efficiencies to processes, procedures, and documentation to make them more accurate and/or efficient.</li><li>Maintain the systems/processes used within the required level of governance.</li><li>Provide support in the testing of changes to the systems/processes.</li></ul>About you<ul><li>Be partly qualified and studying towards the Institute and Faculty of Actuaries (IFoA) examinations with a minimum of 4 exams passes (not exemptions).</li><li>Bachelor's degree in actuarial science, mathematics, statistics, or a related field.</li><li>Strong analytical and problem-solving skills, with the ability to think critically and independently.</li><li>Solid understanding of probability theory, statistics, and financial mathematics.</li><li>Excellent communication skills, both written and verbal, with the ability to present complex information in a clear and concise manner.</li><li>Strong commitment to professional development and willingness to pursue actuarial exams.</li></ul>About Royal LondonWe’re the UK’s largest mutual life, pensions, and investment company, offering protection, long-term savings and asset management products and services.Our People Promise to our colleagues is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by our Spirit of Royal London values; Empowered, Trustworthy, Collaborate, Achieve.We've always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance. You can see all our benefits here - Our BenefitsInclusion, diversity and belongingWe’re an Inclusive employer. We celebrate and value different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills which are recognized and respected – whatever their background.

Working style: Hybrid 50% home/office basedAre you passionate about numbers, analysis, and risk management? We have an exciting new opportunity for you to kickstart your career as an Actuarial Trainee at Royal London. As an Actuarial Trainee, you will be exposed to a dynamic and fast-paced environment where you will work alongside a team of experienced actuaries and gain exposure to a wide range of actuarial projects and responsibilities. You will have the opportunity to learn and apply actuarial techniques to analyze data and develop financial models.We are seeking a highly motivated and analytically minded individual to join our team as an Actuarial Trainee in our Edinburgh, Alderley Edge, or London offices. You will play a crucial role in helping assess and mitigate our risks. This is an excellent opportunity for an actuarial student who is making good progress through the exams to develop their career, gain exposure in a strategically important business area and be part of our ambitious journey with Royal London.The role will sit within the Insurance Risks team which has the following key responsibilities:<ul><li>Development of Methodology & Assumptions for use in pricing and valuation of insurance risks</li><li>Development of Insurance Proposition to retain/create value</li><li>Delivery of risk management initiatives to optimize return on capital and operating profit</li><li>Development of End-to-End management process for Insurance Risk</li></ul>The successful candidate will be partly qualified and studying towards the Institute and Faculty of Actuaries (IFoA) examinations with a minimum of 4 exams having already been successfully attained (not exemptions).About the role<ul><li>Undertake technical analysis using standard actuarial and analytical techniques in accordance with agreed guidelines and methodology.</li><li>Carry out reasonableness checks of own work to minimize errors.</li><li>Check work of a technical or complex nature, providing feedback to the originator.</li><li>Identify areas in processes which have a high level of risk or control failure and escalate to team manager, with suggestions for improvements.</li><li>Challenge and make improvements and efficiencies to processes, procedures, and documentation to make them more accurate and/or efficient.</li><li>Maintain the systems/processes used within the required level of governance.</li><li>Provide support in the testing of changes to the systems/processes.</li></ul>About you<ul><li>Be partly qualified and studying towards the Institute and Faculty of Actuaries (IFoA) examinations with a minimum of 4 exams passes (not exemptions).</li><li>Bachelor's degree in actuarial science, mathematics, statistics, or a related field.</li><li>Strong analytical and problem-solving skills, with the ability to think critically and independently.</li><li>Solid understanding of probability theory, statistics, and financial mathematics.</li><li>Excellent communication skills, both written and verbal, with the ability to present complex information in a clear and concise manner.</li><li>Strong commitment to professional development and willingness to pursue actuarial exams.</li></ul>About Royal LondonWe’re the UK’s largest mutual life, pensions, and investment company, offering protection, long-term savings and asset management products and services.Our People Promise to our colleagues is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by our Spirit of Royal London values; Empowered, Trustworthy, Collaborate, Achieve.We've always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance. You can see all our benefits here - Our BenefitsInclusion, diversity and belongingWe’re an Inclusive employer. We celebrate and value different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills which are recognized and respected – whatever their background.

Location: Edinburgh, Alderley Edge, or LondonWorking style: Hybrid 50% home/office basedThis new created role is seeking a skilled Actuary to join our team in either our Edinburgh, Alderley Edge, or London offices on a permanent basis.As an Actuary, you will play a crucial role in managing risk and ensuring the financial stability of our organization. You will utilise your strong analytical skills to analyse data, assess risks, and make informed decisions to support the company's overall objectives. This position requires a deep understanding of mathematics, statistics, and finance, as well as excellent problem-solving abilities.The purpose of the role is to manage the provision of and/or provide specialist actuarial advice and analysis required by the Group, either as a technical expert or through the management of a team of actuarial professionals. The role will also require you to lead and manage actuarial trainees.The role will sit within the Insurance Risks team which has the following key responsibilities:<ul><li>Development of Methodology & Assumptions for use in pricing and valuation of insurance risks</li><li>Development of Insurance Proposition to retain/create value</li><li>Delivery of risk management initiatives to optimize return on capital and operating profit</li><li>Development of End-to-End management process for Insurance Risk</li></ul>This is a unique opportunity to join a dynamic and innovative team in a rapidly growing industry. If you are a proactive and adaptable individual with a passion for numbers and a drive for excellence, we would love to hear from you.About the role<ul><li>Carry out financial analysis using complex actuarial and analytical techniques to support team, department or wider business planning and other activities as required.</li><li>Monitor and check the quality of the financial analysis performed by team members to ensure accuracy and provide feedback.</li><li>Identify and make improvements to areas in processes which have a high level of risk or control failure.</li><li>Challenge and make improvements and efficiencies to data, processes, procedures, and documentation to make them more accurate and/or efficient.</li><li>Seek and use innovative solutions to queries and problems.</li><li>Provide specialist advice and interpretation of data and results to colleagues and senior managers across the department and the wider business.</li><li>Present reports to colleagues and senior managers across the department and the wider business.</li></ul>About you<ul><li>Actuary (FIA or FFA) with relevant professional experience with excellent understanding of the actuarial concepts and techniques required to fulfill the role.</li><li>Highly numerate and excellent problem-solving skills.</li><li>Excellent understanding of life and pensions products including competitors’ products.</li></ul>About Royal LondonWe’re the UK’s largest mutual life, pensions, and investment company, offering protection, long-term savings and asset management products and services.Our People Promise to our colleagues is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by our Spirit of Royal London values; Empowered, Trustworthy, Collaborate, Achieve.We've always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance. You can see all our benefits here - Our BenefitsInclusion, diversity and belongingWe’re an Inclusive employer. We celebrate and value different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills which are recognized and respected – whatever their background.

10 Week internship starting June 2024Royal London is the UK’s largest mutual life, pensions and investment company. We’re owned by our members and work for their benefit, not for shareholder profits, and that makes us different.We’re looking for highly creative, intellectually curious and enthusiastic penultimate and final year students to join our structured summer internship programme.Our intake is across the full Royal London business. This includes Asset Management, Finance and Actuarial, Technology and all other job disciplines.You’ll be joining a supportive team of talented, diverse and passionate people who make a real impact on the lives of our customers every day.What’s in it for me?<ul><li>Competitive pro rata salary of £25,000</li><li>Generous pension (double matching, up to 14%) and life assurance (up to x8 salary)</li><li>Confidential (24/7) access to health, legal and financial advice</li><li>Great office facilities, with hybrid working and support from a dedicated People Leader and Buddy throughout</li><li>Networking and learning and development opportunities</li><li>Opportunity to apply for one of our permanent roles or make plans for our 2025 intake</li></ul>What will I be doing?The wide range of placements available across all business units and every possible job discipline is simply too long to list here. Tell us a bit about you and your interests in your cover letter and we’ll make sure you’re matched to the right placement.With coaching from your People Leader, you’ll take ownership and support on a small portfolio of projects that allows Royal London to:<ul><li>Retain and or create value for our customers</li><li>Adapt to changes in the environment and reduce risk</li><li>Meet all of our legal and regulatory requirements</li><li>Improve efficiencies and profitability</li></ul>You’ll learn and get to work cross functionally with colleagues to evaluate data and other inputs, helping to provide context to allow us to make informed business choices.As you learn and support with the day-to-day operations, we’ll look to you to show off your creative flair, bringing fresh perspective to existing processes and methodologies.Finally, you’ll get to work as part of a wider Internship peer group within your business unit to deliver a joint project to the senior leadership team at the end of the programme.What skills and experience do I need to have?<ul><li>Final or penultimate year of study in any degree discipline</li><li>Intellectually curious, adaptable to change and not afraid to share new ideas and question the status quo</li><li>Proactive and motivated to achieve and learn</li><li>Able to deliver multiple projects concurrently</li><li>Comfortable with IT and data, with a willingness to learn</li><li>Excellent verbal and written English language skills</li><li>Strong interpersonal skills, with the ability to build relationships and engage with stakeholders across the business</li><li>Good judgement and strong problem-solving skills</li><li>Ability to identify, articulate and communicate the key conclusions from data in simple terms</li></ul>What else do I need to know?Exact start date is to be confirmed, however it’s likely to be Monday 10 June 2024. You need to be available to start on this date for a period of ten weeks.You can of course take annual leave, but given the relatively short duration, we ask that you organise any break of one week or more, outside of the programme dates.Exact dates are still to be confirmed, but if you’re selected, you’ll need to make yourself available for an on-site assessment centre. This is likely to be the end of January or start of February.Your application should include a short cover letter that makes clear why you’re well suited to the role at Royal London. You should also include detail on your area of interest, for example Asset Management, or Marketing. Given the volume of applications, we ask that you are flexible in consideration of other placements offered.At Royal London we believe your difference is our strength and our organisation benefits from the different perspectives that diversity brings. Studies have shown that people from under-represented groups are less likely to apply unless they meet every requirement. So, if you’re excited about this role but your past experience isn't a perfect fit with the job description, we encourage you to apply anyway as you may be the right candidate for this or other opportunities.Our expectation is that colleagues will come into the office for 50% of their time. This hybrid model is built around our mutual mindset, thinking about what is good for us as individuals (the ‘me’) and in the context of what is right for our customers, our colleagues and the wider Royal London Group (the ‘we’). To give you the support and development needed, you may need to spend much more time in the office.

Job Title: Actuarial Trainee ProgrammeLocation: LondonStart date: 2 September 2024Royal London is the UK’s largest mutual life, pensions and investment company. We’re owned by our members and work for their benefit, not for shareholder profits, and that makes us different.We’re looking for highly creative, intellectually curious and analytical graduates to join our cross functional and rotational actuarial trainee programme.You’ll be joining a supportive team of talented, diverse and passionate people who make a real impact on the lives of our customers every day.What’s in it for you?<ul><li>Starting salary of £30,000 per annum plus bonus, with further increments on successful completion of exams</li><li>Generous pension (up to 14% matching) and life assurance (up to x8 salary)</li><li>28 days annual leave plus bank holidays with the option to buy/sell up to 5 days</li><li>Private medical insurance, as well as 24/7 confidential access to health, legal and financial advice</li><li>Robust training and support to guide you towards Fellowship status with the Institute and Faculty of Actuaries (IFoA)</li><li>Great career development beyond the end of the programme</li><li>Opportunity to join our inclusion networks, join events across the business and build your network</li></ul>What will you be doing?We’re an actuarial business at heart and you’ll be at the centre of the action, helping us make the biggest decisions for us and our customers. In fact, many of our group executive and senior leadership teams started their career on an actuarial programme, just like you.You’ll complete a number of placements across the full breadth of the business. This could see you get involved in everything from valuation (modelling) and pricing, through to assessing risk on climate change, or analysing mergers and acquisition opportunities.Each placement will be structured to build your technical knowledge and exposure to the breadth of the Royal London business. You’ll provide actuarial expertise across the business, helping to translate complex financial or mathematical data into simple, actionable language.Alongside each of your placements, you will study towards a professional qualification with the IFoA. Depending on your educational background and resulting exemptions, this can be done in three years. For others this can be a much longer-term commitment.We offer best in class study support, which includes generous study allowance and support with materials, exam costs and other things. We’ve run this programme for decades and have a great track record of coaching and supporting through this.What skills and experience do I need?<ul><li>Recently qualified graduate in a highly numerical discipline.</li><li>It would be great if you had some experience of coding, data, visualisation and AI, but this is not essential.</li><li>Highly analytical, with critical thinking and problem solving</li><li>Ability to identify, articulate and communicate the key conclusions from analysis in simple terms</li><li>Intellectually curious, adaptable to change and not afraid to share new ideas and question the status quo</li><li>Proactive, driven to succeed and able to deliver multiple projects concurrently</li><li>Excellent verbal and written English language skills, with the ability to build relationships and engage with stakeholders across the business</li></ul>What else do I need to know?Your application should include a short cover letter that makes clear why you’re well suited to the role at Royal London.We’re hiring Actuarial Trainees across all three sites. Please apply only for your preferred location – you can make clear on your cover letter your preferences on other locations.Exact dates are still to be confirmed, but if you’re selected, then you’ll need to be available for an interview and assessment centre.At Royal London we believe your difference is our strength and our organisation benefits from the different perspectives that diversity brings.Studies have shown that people from under-represented groups are less likely to apply unless they meet every requirement. So, if you’re excited about this role but your past experience isn't a perfect fit with the job description, we encourage you to apply anyway as you may be the right candidate for this or other opportunities.Our expectation is that colleagues will come into the office for 50% of their time. This hybrid model is built around our mutual mindset, thinking about what is good for us as individuals (the ‘me’) and in the context of what is right for our customers, our colleagues and the wider Royal London Group (the ‘we’). To give you the support and development needed, you may need to spend much more time in the office, particularly in the earliest stage of your career.

Contract Type: PermanentLocation: Alderley Edge, Edinburgh, or LondonClosing date: 20th April 2023At Royal London we believe your difference is our strength and our organisation benefits from the different perspectives that diversity brings. Studies have shown that people from under-represented groups are less likely to apply unless they meet every requirement. So, if you’re excited about this role but your past experience isn't a perfect fit with the job description, we encourage you to apply anyway as you may be the right candidate for this or other opportunities.Role purposeTo assist in the provision of actuarial and analytical support and services required by the Royal London Group, whilst following the actuarial study pathway towards qualification as an actuary.The role will be part of the actuarial pool within Royal London. As such, in the early part of your career you will rotate around different teams within the actuarial department in order to gain a broad experience in various aspects of actuarial work. Once qualified, there will still be opportunity to gain expertise within new areas but also the opportunity to consolidate your knowledge in a particular field.As part of the role the successful candidate will be expected to study to become a fully qualified actuary. In return, a prescribed level progress through the exams will be expected and required as part of the role.Key responsibilities<ul><li>Undertake analysis using actuarial and analytical techniques.</li><li>Use actuarial modelling systems, calculation systems and spreadsheets to assist with technical analysis.</li><li>Manipulate data and calculate results for actuarial reports.</li><li>Draft sections of actuarial reports.</li><li>Suggest improvements to promote effectiveness and efficiency of processes, procedures, and documentation.</li><li>Maintain the actuarial systems, packages and spreadsheets used in line with departmental governance.</li><li>Assist with the development, testing and implementation of any approved system changes.</li><li>Provide support to actuarial projects.</li></ul>Criteria<ul><li>A mathematical based subject degree (e.g., mathematics, statistics, actuarial science, economics, physics, science, or engineering). You will have achieved or be on track to achieve a 2:1 or higher in your chosen degree subject or have or be expecting to graduate from a master’s degree or PhD in a mathematical discipline.</li><li>Highly numerate with good problem-solving skills.</li><li>Commitment to further study as part of the actuarial qualification, study support provided by Royal London Group.</li><li>Enthusiastic about a career in financial services.</li></ul>What we offer<ul><li>A generous group pension scheme (up to 14% matching employer contribution)</li><li>28 days annual leave plus bank holidays with the option to buy/sell up to 5 days</li><li>Annual company and performance-based bonus</li><li>Life assurance (up to 8 x annual salary)</li><li>Enhanced parental leave policies</li><li>Private medical insurance</li><li>Employee Assistance Programme - Access 24/7 to confidential health, legal &amp; financial advice</li><li>Full details can be found on our benefits page</li></ul>About Royal LondonRoyal London is the largest mutual life insurance, pensions, and investment company in the UK. Since its foundation over 160 years ago, Royal London has supported millions of people to protect and provide for themselves and their families.At Royal London, our People Promise is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This promise has been at the heart of our approach to hybrid working, ensuing a balance of time working in our offices, supporting the culture of collaboration and inclusion and some working time from home, so we can all continue to benefit from the flexibility this brings. Our hybrid working approach is built around our mutual mindset, thinking about what is good for us as individuals (the ‘me’) and in the context of what is right for our customers, our colleagues, and The Royal London group (the ‘we’). Together we belong, collaborate, learn and perform.Our expectation is that colleagues working in hybrid roles will come into the office for 50% of their time, and the rest from home. We want to be as consistent as we can with our approach, but we also appreciate some colleagues need adjustments based on personal circumstances. (e.g. to support a disability, or caring responsibility) and / or may wish to formally seek a flexible working pattern in line with our flexible working policy.We appreciate the world of work continues to evolve and we will continue to listen to our colleagues’ views on this whilst ensuring our on-going approach is right for our business and customers.We are an equal opportunities employer. We work hard to attract the best talent for our award-winning team. We believe that embracing difference makes us stronger. Our diverse people bring us different skills – whatever their educational background, disability, gender, age, sexual orientation, race, religion, or belief.Our Alderley Park office is situated in 400 acres of natural parkland, based 2.2 miles south of Alderley Edge and 6.5 miles from Macclesfield in our newly refurbished site. We offer a free shuttle service to and from the office from Wilmslow train station and offer free on-site parking with electric car charging points.

At Royal London we believe your difference is our strength and our organisation benefits from the different perspectives that diversity brings. Studies have shown that people from under-represented groups are less likely to apply unless they meet every requirement. So, if you’re excited about this role but your past experience isn't a perfect fit with the job description, we encourage you to apply anyway as you may be the right candidate for this or other opportunities.About the roleWe are looking for an Actuary to join the Annuities team on a permanent basis. The role will be focused on producing Internal Ratings for Illiquid assets, alongside providing support to the development of credit risk approaches for these assets. As an important member of the team, you will provide specialist actuarial advice and analysis required by the Group, either as a technical expert or through the management of a team of actuarial professionals. We do not require direct previous experience of this type of work.This is an exciting opportunity to play a key role in helping to shape the annuities team as we continue to develop and grow. Key responsibilities<ul><li>Carry out financial analysis using complex actuarial and analytical techniques to support team, department or wider business planning and other activities as required</li><li>Challenge and make improvements and efficiencies to data, processes, procedures, and documentation to make them more accurate and/or efficient</li><li>Provide specialist advice and interpretation of data and results to colleagues and senior managers across the department and the wider business</li><li>Write and present reports to colleagues and senior managers across the department and the wider business</li></ul>Criteria<ul><li>Qualified Actuary (FIA or FFA) with relevant professional experience and an excellent understanding of the actuarial concepts and techniques required to fulfil the role</li><li>Ability to communicate in a professional manner with colleagues and senior managers </li><li>Highly numerate and excellent problem-solving skills</li><li>Excellent understanding of life and pensions products including competitors’ products</li></ul>What we offerWe've always been proud to reward our employees by offering a number of great benefits including: <ul><li>A generous group pension scheme (up to 14% matching employer contribution)</li><li>28 days annual leave plus bank holidays with the option to buy/sell up to 5 days </li><li>Annual company and performance based bonus </li><li>Life assurance (up to 8 x annual salary)</li><li>Enhanced parental leave policies </li><li>Private medical insurance </li><li>Employee Assistance Programme - Access 24/7 to confidential health, legal &amp; financial advice</li></ul>Full details can be found on our benefits pageAbout Royal London Royal London is the largest mutual life insurance, pensions and investment company in the UK.  Since its foundation 160 years ago, Royal London has supported millions of people to protect and provide for themselves and their families.At Royal London, our People Promise is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This promise has been at the heart of our approach to hybrid working, ensuing a balance of time working in our offices, supporting the culture of collaboration and inclusion and some working time from home, so we can all continue to benefit from the flexibility this brings. Our hybrid working approach is built around our mutual mindset, thinking about what is good for us as individuals (the ‘me’) and in the context of what is right for our customers, our colleagues and The Royal London group (the ‘we’). Together we belong- collaborate – learn and perform. Our expectation is that colleagues working in hybrid roles will come into the office for 50% of their time, and the rest from home. We want to be as consistent as we can with our approach but we also appreciate some colleagues need adjustments based on personal circumstances. (e.g. to support a disability, or caring responsibility) and / or may wish to formally seek a flexible working pattern in line with our flexible working policy.We appreciate the world of work continues to evolve and we will continue to listen to our colleagues views on this whilst ensuring our on-going approach is right for our business and customers.We are an equal opportunities employer. We work hard to attract the best talent for our award-winning team. We believe that embracing difference makes us stronger. Our diverse people bring us different skills – whatever their educational background, disability, gender, age, sexual orientation, race, religion or belief.Our Alderley Park office is situated in 400 acres of natural parkland, based 2.2 miles south of Alderley Edge and 6.5 miles from Macclesfield in our newly refurbished site. We offer a free shuttle service to and from the office from Wilmslow train station and offer free on-site parking with electric car charging points.

Contract Type: PermanentLocation: Macclesfield, Edinburgh, Glasgow or LondonClosing date: 25th January 2023About the role:Criteria<ul><li>Understanding of how credit rating methodologies are implemented within context of a Matching Adjustment portfolio</li><li>Ability to deliver a range of deliverables in parallel, including major projects</li><li>Ability to provide robust challenge constructively whilst also working with stakeholders to solve any problems identified</li></ul>What we offerWe've always been proud to reward our employees by offering a number of great benefits including:<ul><li>A generous group pension scheme (up to 14% matching employer contribution)</li><li>28 days annual leave plus bank holidays with the option to buy/sell up to 5 days</li><li>Annual company and performance based bonus</li><li>Life assurance (up to 8 x annual salary)</li><li>Enhanced parental leave policies</li><li>Private medical insurance</li><li>Employee Assistance Programme - Access 24/7 to confidential health, legal &amp; financial advice</li></ul>About Royal LondonRoyal London is the largest mutual life insurance, pensions and investment company in the UK.  Since its foundation 160 years ago, Royal London has supported millions of people to protect and provide for themselves and their families.We believe that being together some of the time will help our colleagues to feel truly connected to our Spirit of Royal London culture. Many of us value the passing conversations, social interactions and building relationships that comes from being together in the office, so we have adopted a hybrid working model, with some of your time spent in the office, and some from home. We are always open to discussing flexible working arrangements, we will discuss working patterns or locations that ensure you have the freedom to be your bestOur culture is welcoming, friendly, flexible and we aim to make you always feel included. We welcome applications from individuals who have taken an extended career break or those who are transitioning from different sectors. Our culture comes from within, or to put it another way, it comes from our people. It’s what makes Royal London a great place to work.We are an equal opportunities employer. We work hard to attract the best talent for our award-winning team. We believe that embracing difference makes us stronger. Our diverse people bring us different skills – whatever their educational background, disability, gender, age, sexual orientation, race, religion or belief.In fact, the first pillar of our People Promise is designed to make sure you 'work somewhere inclusive'. We want to live up to this promise; it’s good for our people and good for our customers too, because our workforce should reflect our communities.

Royal London is the largest mutual life insurance, pensions, and investment company in the UK.  Since its foundation 160 years ago, Royal London has supported millions of people to protect and provide for themselves and their families. 



Our culture is welcoming, friendly, flexible and we aim to make you always feel included. We welcome applications from individuals who have taken an extended career break or those who are transitioning from different sectors. 



To support this, we are always open to discussing flexible working arrangements and as we transition to hybrid working, we will discuss working patterns or locations that ensure you have the freedom to be your best. It’s what makes Royal London a great place to work.



We believe that being together some of the time will help our colleagues to feel truly connected to our Spirit of Royal London culture. Many of us value the passing conversations, social interactions and building relationships that comes from being together in the office.



We currently have an exciting opportunity to join the Royal London Investment Office as an Investment Actuary on a permanent contract in Edinburgh or London, working with teams right across Royal London.



The Investment Office sits within Group Finance and has the core responsibility for defining the Group’s investment philosophy and setting the Group’s investment strategy. It is tasked with the execution of this investment strategy by appointing and overseeing asset managers across over £160bn of investment assets on behalf of our customers and members.  



Role Purpose

To determine and review the Strategic Asset Allocations (SAAs) and investment strategies for the With Profit Funds and to support the development and design of strategic investment projects across Royal London propositions as required.  In addition, support the maintenance and development of Royal London’s investment risk framework and related policies.   



Key Responsibilities 

<ul>
	<li class='job-list'>Develop and review the required investment strategies and SAAs for With Profit Funds, including consideration of:

	<ul style="list-style-type:circle">
		<li class='job-list'>Macro and market insights and related scenarios</li>
		<li class='job-list'>Climate impacts and related scenarios    </li>
	</ul>
	</li>
	<li class='job-list'>Support development and review of investment strategies and SAAs across other Royal London propositions (such as the Governed Range, our flagship pension proposition), including peer review as required.</li>
	<li class='job-list'>Provide support to projects as required to support delivery of team, functional or strategic projects.</li>
	<li class='job-list'>Determines any necessary changes required to implement strategy changes.</li>
</ul>



Essential Criteria

<ul>
	<li>Understanding of the financial services industry and its regulatory and legislative framework, and long-term savings products.</li>
	<li>Relevant experience of life office investment and asset-liability management.</li>
	<li>Detailed knowledge of key MS Office applications such as Excel, PowerPoint, and Word.</li>
	<li class='job-list'>Modelling experience.</li>
</ul>



Desirable Criteria

<ul>
	<li class='job-list'>Experience of with profits funds management.</li>
	<li>Understanding of the investment environment, knowledge of a range of asset classes, markets, and instruments.</li>
	<li class='job-list'>Qualified Actuary or equivalent.</li>
</ul>



What we offer

<ul>
	<li class='job-list'>We've always been proud to reward employees by offering a number of benefits such as Pensions and Protection, Performance and role-related benefits, Lifestyle and Wellbeing  </li>
	<li class='job-list'>Our culture comes from within, or to put it another way, it comes from our people. It’s what makes Royal London a great place to work. </li>
	<li class='job-list'>Our People Promise is something we live up to every day. We know we can rely on you, and you can expect plenty from us in return.</li>
	<li class='job-list'>Glassdoor ranked us among the best places to work in the UK in 2021</li>
</ul>



We are an equal opportunities employer. We work hard to attract the best talent for our award-winning team. We believe that embracing difference makes us stronger. Our diverse people bring us different skills – whatever their educational background, disability, gender, age, sexual orientation, race, religion, or belief.



In fact, the first pillar of our People Promise is designed to make sure you 'work somewhere inclusive'. We want to live up to this promise; it’s good for our people and good for our customers too, because our workforce should reflect our communities.

Job title: Senior Actuary (MA Modelling)Contract type: Permanent Closing date: 6th May 2022Location: Nether Alderley, Edinburgh, London Royal London is the largest mutual life insurance, pensions and investment company in the UK.  Since its foundation 160 years ago, Royal London has supported millions of people to protect and provide for themselves and their families. Our culture is welcoming, friendly, flexible and we aim to make you always feel included. We welcome applications from individuals who have taken an extended career break or those who are transitioning from different sectors. To support this we are always open to discussing flexible working arrangements and as we transition to hybrid working we will discuss working patterns or locations that ensure you have the freedom to be your best. It’s what makes Royal London a great place to work.We believe that being together some of the time will help our colleagues to feel truly connected to our Spirit of Royal London culture. Many of us value the passing conversations, social interactions and building relationships that comes from being together in the office.Role PurposeAs a Senior Actuary (MA Modelling) you will play a key role in developing Royal London’s annuity proposition. You will lead the ongoing development of the tools and process used to model the MA. This role will sit within a standalone proposition team responsible for developing the capability required to meet all regulatory requirements associated with operating a Matching Adjustment fund. Key Responsibilities <ul><li style="text-align:justify">The design and development of a standalone Matching Adjustment tool used in the calculation of the base MA and the MA under stress as required for the internal model.</li><li style="text-align:justify">Development of methodology required for modelling of MA as we increase the range of assets and liabilities within our MA fund.</li><li style="text-align:justify">Responsible for the design of model changes required to reflect the risks associated with new asset classes within the MA fund</li><li style="text-align:justify">Ensure that all developments are carried out and tested in line with Royal London’s process, and take responsibility for managing testing and obtaining approval in line with RL wider actuarial model release process</li><li style="text-align:justify">Support the calibration of the Internal Model stresses associated with illiquid assets – providing model output and results as and when required.</li><li style="text-align:justify">Support the BAU MA adjustment team in the production of the MA </li><li style="text-align:justify">Work across Royal London finance to help develop best practice for model development using “R”.</li></ul>Essential Criteria<ul><li>Detailed knowledge of the Matching Adjustment regulations and associated modelling approaches.</li><li style="text-align:justify">Experience of managing model development within a highly controlled framework.</li><li style="text-align:justify">Specialist knowledge of developing actuarial models using “R”</li><li>Qualified Actuary</li></ul>Desirable Criteria<ul><li style="text-align:justify">Preferably some previous exposure to MG-ALFA</li><li>A network of contacts in the industry</li></ul>What We Offer<ul><li>We've always been proud to reward employees by offering a number of benefits such as Pensions and Protection, Performance and role-related benefits, Lifestyle and Wellbeing</li><li>Our culture comes from within, or to put it another way, it comes from our people. It’s what makes Royal London a great place to work.</li><li>Our People Promise is something we live up to every day. We know we can rely on you, and you can expect plenty from us in return.</li><li>Glassdoor ranked us among the best places to work in the UK in 2021</li></ul>We are an equal opportunities employer. We work hard to attract the best talent for our award-winning team. We believe that embracing difference makes us stronger. Our diverse people bring us different skills – whatever their educational background, disability, gender, age, sexual orientation, race, religion or belief.In fact, the first pillar of our People Promise is designed to make sure you 'work somewhere inclusive'. We want to live up to this promise; it’s good for our people and good for our customers too, because our workforce should reflect our communities.

Job Title: Senior Actuarial AnalystContract Type: PermanentLocation: London or Edinburgh or Nether AlderleyClosing date: 3rd May 2022Royal London is the largest mutual life insurance, pensions and investment company in the UK.  Since its foundation 160 years ago, Royal London has supported millions of people to protect and provide for themselves and their families. Our culture is welcoming, friendly, flexible and we aim to make you always feel included. We welcome applications from individuals who have taken an extended career break or those who are transitioning from different sectors. To support this we are always open to discussing flexible working arrangements and as we transition to hybrid working we will discuss working patterns or locations that ensure you have the freedom to be your best. It’s what makes Royal London a great place to work.We believe that being together some of the time will help our colleagues to feel truly connected to our Spirit of Royal London culture. Many of us value the passing conversations, social interactions and building relationships that comes from being together in the office.Role PurposeAs a Senior Actuarial Analyst you will be joining a newly created and growing team as Royal London expands our insurance risk appetite. You will play a key role in enhancing our data and systems capability to generate value by optimising the management of insurance risks.Key Responsibilities <ul><li>Development of the data processes to allow greater insight into the insurance risks</li><li>Development of the systems to analyse insurance risks</li><li class="MsoBodyText2">Providing the SME to support the wider team in using the team systems</li><li class="MsoBodyText2" style="text-align:justify">Support senior leaders in implementing and embedding our risk processes</li></ul>Essential Criteria<ul><li style="text-align:justify">Degree in Mathematics or Actuarial Science related subject</li><li style="text-align:justify">Progression through the Foundations in Actuaries (FIA) qualification</li><li style="text-align:justify">Strong capability in R and SQL</li></ul>Desirable Criteria<ul><li style="text-align:justify">Experience of developing actuarial systems</li><li style="text-align:justify">Experience of working with annuity data</li></ul>What We Offer<ul><li>We've always been proud to reward employees by offering a number of benefits such as Pensions and Protection, Performance and role-related benefits, Lifestyle and Wellbeing</li><li>Our culture comes from within, or to put it another way, it comes from our people. It’s what makes Royal London a great place to work.</li><li>Our People Promise is something we live up to every day. We know we can rely on you, and you can expect plenty from us in return.</li><li>Glassdoor ranked us among the best places to work in the UK in 2021</li></ul>We are an equal opportunities employer. We work hard to attract the best talent for our award-winning team. We believe that embracing difference makes us stronger. Our diverse people bring us different skills – whatever their educational background, disability, gender, age, sexual orientation, race, religion or belief.In fact, the first pillar of our People Promise is designed to make sure you 'work somewhere inclusive'. We want to live up to this promise; it’s good for our people and good for our customers too, because our workforce should reflect our communities.

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