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Aviva is hiring a

Senior Actuary (Economic Capital)

Salary up to £90k

We are seeking a curious and technically minded Senior Economic Capital Actuary who wants to develop their problem-solving skills, technical knowledge and ability to communicate outcomes to a wide range of internal business partners.

This is a great role as you’ll be involved in the development and ongoing maintenance of Aviva’s Internal Model, playing a prominent part in the team accountable for the internal model risk calibrations and capital requirements methodology. Alongside being involved in developing methodology and updating risk calibrations, you will also be involved in reviewing proposals from the Group Actuarial Function team and support the UK Actuarial Reporting Team in implementing the methodology!

A bit about the job:

As the Senior Economic Capital Actuary you will advise key stakeholders and senior management from the Finance teams, the Investment team, the Pricing teams, the Annuity Asset Origination team and Group team. This engagement typically involves outlining the implications of changes in capital requirements on the business and supporting the onward communication of changes in capital requirements to senior management, the regulator and the internal model independent validation team.

The work required is of a technical actuarial nature, primarily relating to all aspects of the calculation of the Solvency Capital Requirement (SCR) and the wider balance sheet components required under Solvency II rules. The day-to-day responsibilities for the role include:

  • Developing Solvency II risk calibrations and risk correlations
  • Supporting the review of calibrations and credit portfolio model results produced outside of the team
  • Ensure risks are identified for inclusion in the internal model
  • Support the development and queries on methodologies relating to the determination of all aspects of the Solvency II balance sheet, including the assets, SCR and technical provisions
  • Assist with explaining current methodology and proposed changes in methodology to senior management and regulators

Skills and experience we’re looking for:

  • Qualified or part qualified Actuary with a good knowledge of life insurance products and risks
  • Confident to present complex information in a straightforward and clear manner facilitating the right actions and responses
  • Ability to work under pressure and to deadlines and an energy, drive and a ‘can do’ attitude
  • Statistical analysis, especially distribution fitting or similar experience e.g. loss function fitting
  • In depth knowledge of credit risk and credit risk modelling

What you’ll get for this role:

  • Starting salary of up to £90,000 (depending on location, skills, experience, and qualifications)
  • Bonus opportunity - 12% 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

Take a look to learn more. Put a salary into this calculator to see what your total Aviva Reward could be.

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 locations, 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.

We interview every disabled applicant who meets the minimum criteria for the job. Once you’ve applied, please send us an email stating that you have a disclosed disability, and we’ll interview you.

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