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Aviva is hiring a

Head of Reinsurance (Annuities)

Salary: between £140,000 - £160,000

This role will suit someone who has excellent technical knowledge across both BPA deals and reinsurance, deep relationships with reinsurers, as well as a proven ability to lead high performing teams and associated stakeholder management under the considerable pressure experienced in a trading environment.

You will be leading the end-to-end longevity reinsurance activity required to underpin Annuities trading activity, delivering this through the Flow and Facultative new business reinsurance teams and operational reinsurance teams (c. 30 FTE in total).

A bit about the job:

You will be responsible for Aviva’s trading relationships with our reinsurance counterparties and be responsible for longevity reinsurance trading decisions for Annuities. This role is critical to the delivery of financially viable and commercially sound trading in BPAs and individual annuities. Reinsurance decisions are inherently complex and depend on several complex factors, including internal decision-making around balance sheet and capital management, and conditions impacting the broader financial markets.

As such, this requires proven commercial and professional judgement in an inherently complex fast moving environment. You will also be accountable for leading the reinsurance administration team in the on-boarding and on-going administration of our reinsurance arrangements and growing in-force business, ensuring a centre of excellence within Aviva for reinsurance administration.

Skills and experience we’re looking for:

  • Detailed knowledge and understanding of DB pensions and actuarial calculations, BPA pricing and reinsurance pricing, DB de-risking and reinsurance markets are a pre-requisite as well as a clear understanding and knowledge of reinsurance administration requirements & processes.
  • Excellent relationships with longevity reinsurers. This includes a proven track record of managing these relationships and leading and executing reinsurance transactions / treaties covering BPA business which have reinsurance terms which deliver required financial performance from reinsurance activities.
  • Proven track record of leadership skills, including team leadership and internal stakeholder management, as demonstrated by continued business delivery (measured by financial performance) in a senior BPA environment.
  • Actuarial qualification is desirable.

What you’ll get for this role:

  • Salary between £140,000 – £160,000 (depending on location, skills, experience, and qualifications)
  • Bonus opportunity - 25% of annual salary Actual amount depends on your performance and Aviva’s.
  • Generous pension scheme - Aviva will contribute up to 14%, depending on what you put in.
  • 29 days holiday plus bank holidays, and you can choose to buy or sell up to 5 days
  • Make your money go further - Up to 40% discount on Aviva products, and other retailer discounts
  • Up to £1,200 of free Aviva shares per year through our Matching Share Plan and share in the success of Aviva with our Save As You Earn scheme
  • Brilliantly supportive policies including parental and carer’s leave
  • Flexible benefits to suit you, including sustainability options such as cycle to work
  • Make a difference, be part of our Aviva Communities and use your 3 paid volunteering days to help others
  • We take your wellbeing seriously with lots of support and tools

Aviva is for everyone:

We’re inclusive and welcome everyone – we want applications from people with diverse backgrounds and experiences.

Excited but not sure you tick every box? Research tells us that women, particularly, feel this way. So, regardless of gender, why not apply. And if you’re in a job share just apply as a pair.

We flex hours and working patterns to suit our customers, business, and you. Most of our people are smart working –spending around 50% of their time in our offices every week - combining the benefits of flexibility, with time together with colleagues.

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