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Rothesay is hiring an

Actuarial Assurance Actuary

Rothesay is the UK’s largest pensions insurance specialist, purpose-built to protect pension schemes and their members’ pensions. With over £60 billion of assets under management, we secure the pensions of more than 930,000 people and pay out, on average, approximately £200 million in pension payments each month.

Rothesay is dedicated to providing excellence in customer service alongside prudent underwriting, a conservative investment strategy and the careful management of risk. We are trusted by the pension schemes of some of the UK’s best known companies to provide pension solutions, including Asda, British Airways, Cadbury, the Civil Aviation Authority, the Co-operative Bank, National Grid, Morrisons, the Post Office and telent.

At Rothesay, we are striving to transform our industry. We believe deeply in creating real security for the future and our leadership in finding new and better ways to do that is the key to our success. To do that, we need the very brightest original thinkers to bring creativity as well as rigour. Rothesay is a rewarding place to work, where quality people can thrive and prosper. We pride ourselves on the connections our people build, many of whom have been with us for over ten years.

Job title: Actuarial Assurance Actuary

Reports to: Senior Lead Actuarial Assurance Actuary

Role type: Permanent

The team:

The Rothesay Actuarial Assurance team was established in May 2021 and currently consists of the Head of Actuarial Assurance supported by the Senior Lead Actuarial Assurance Actuary and Actuarial Assurance Analyst. The function sits within the first line and is responsible for working with other teams within Rothesay to provide assurance on the quality and robustness of actuarial reporting, both internally and externally and across different purposes. The Head of Actuarial Assurance reports directly into the CFO and works closely with the Chief Capital Officer and the Co-Heads of Finance. The individual will report into the Senior Lead Actuarial Assurance Actuary, who is a qualified actuary with c.10 years PQE. The team has significant exposure across the business.

Job responsibilities:

  • Assurance over actuarial reporting:
    • Work directly with other teams including the Capital Actuarial and Finance, along with coordinated activity with the Line 2 Chief Actuary and his team, to provide review and assurance over the quality of internal and external actuarial reporting across all bases and to assist with improvements as appropriate, including:
      • Management information
      • IFRS report and accounts
      • MCEV
      • US GAAP
      • Solvency II results and disclosures
    • Support the Capital Actuarial team in communicating with, and responding to, the external auditors, the Chief Actuary team.
    • Assist with the production of Actuarial Assurance reporting to Board and Executive level committees.
  • Oversight of methodology and assumption setting, including:
    • Be a point of contact for the other teams involved in assumption setting.
    • Where required support in the production of assumptions across all bases.
    • Assist with production of reserving methodology and assumptions reports for Board level committees.
  • Support change initiatives:
    • Support change initiatives over new accounting and reporting regulations and standards
  • Model reviews:
    • Review other actuarial models and assumptions within the company through “deep dives” (e.g. pricing, strategy, longevity) and working with the relevant team to assist with implementation of any needed changes.

Skills and experience required:

  • A qualified actuary with at least 5 years’ experience in the insurance business, ideally with experience in annuities, reporting or auditing. Please ensure product experience is included in the CV or cover letter. Experience in Solvency II and IFRS17 are preferred.
  • A confident individual who is happy to share thoughts and ideas with a wide peer group.

Rothesay Competencies

  • Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate analytical skills
  • Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
  • Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions
  • Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
  • Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives. Sees the big picture and effectively analyses complex issues
  • Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
  • Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions. Takes a position on issues and influences others' opinions and presents persuasive recommendations

Disclaimer

This position description is intended to describe the duties most frequently performed by an individual in this position. It is not intended to be a complete list of assigned duties, but to describe a position level. The role shall be performed within a professional office environment. Rothesay has health and safety polices that are available for all workers upon request. There are no specific health risks associated with the role.

Inclusion

Rothesay actively promotes diversity and inclusivity. We know that our success depends on our people and that by nurturing a culture that values difference, we create a stronger, more dynamic business. We welcome applications from all qualified candidates, regardless of race, colour, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability or age.

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