Dublin

Edinburgh

London

Macclesfield

Qualified

Senior Actuary

Life

Python

Prophet

Excel

MG-ALFA

Job title: Actuary Contract type: Permanent Closing date: 11th May 2022Location: DublinRoyal 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.Royal London has a history of protecting its customers and their families in Ireland for over 180 years. Before our name was Royal London, we traded as Caledonian Life. We became part of Royal London Group following the acquisition of Royal Liver in July 2011. In December 2014, we rebranded to the Royal London name and look. We’re dedicated to selling market-leading protection policies. Our products are only available from authorised Financial Brokers, who offer impartial financial advice to best meet customer needs.Role Purpose<a href="https://www.royallondon.ie/about-us/" style="color:blue;text-decoration:underline">Royal London Insurance DAC</a>is seeking applications for an Actuary in the Head of Actuarial Function team. In this newly created team, you will provide technical support to the Deputy Head and Head of Actuarial Function to assist in the achievement of departmental objectives.Key responsibilities <ul><li style="text-align:justify">Assist in reviewing the valuation of the company on a quarterly basis.</li><li style="text-align:justify">Review, investigate and provide commentary on the analysis of change.</li><li style="text-align:justify">Review actuarial model changes and communicate impact assessments.</li><li style="text-align:justify">Assist in the annual production of the ORSA.</li><li style="text-align:justify">Review experience investigations and analysis of lapses, mortality, and morbidity for setting assumptions.</li><li style="text-align:justify">Review monthly and weekly new business reporting and additional financial management information as required.</li><li style="text-align:justify">Work as part of a team of part qualified and qualified actuaries, sharing expertise and knowledge across Royal London Ireland and the Royal London Group. </li></ul>Essential Criteria<ul><li style="text-align:justify">Actuary (i.e., FSAI or equivalent).</li><li style="text-align:justify">Solvency II and/or financial reporting experience in the life insurance industry.</li><li style="text-align:justify">Strong IT /software skills (Excel, VB, and Access). </li><li style="text-align:justify">Good communication skills: ability to communicate in a professional manner with colleagues across the department and the wider business.</li></ul>Desirable Criteria<ul><li>Proficiency with R and/or Python.</li><li>Actuarial model development and testing experience (e.g., Prophet, MG-ALFA).</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 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.

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