Reinsurance Operations Actuary

Reinsurance Operations Actuary – Salary ranges from £70,000 - £90,000

Contract - 12 months

Locations - London, York, Norwich

We are currently recruiting for a Reinsurance Actuary to be a part of our phenomenal Reinsurance Operations team!

If you have experience working in Defined Benefit pensions or annuity insurance/reinsurance administration and are seeking a new challenging opportunity to play a key role in overseeing the growing portfolio of annuity reinsurance then come join our team, this role could be ideal for you.

A bit about the job:

The Reinsurance Operations team has sole responsibility for the on-going administration of all in force reinsurance arrangements within Retirement Solutions. They play a key role within Aviva, by working with reinsurance companies and pension schemes to design and administer capital efficient solutions that effectively manage risk for Aviva.  It is a key function for Aviva to be able to meet its strategic ambitions.

As one of the Reinsurance Actuaries, you will get involved in a broad range of activities relating to the oversight of reinsurance arrangements such as:

• Checking / reviewing accurate account and collateral materials for a portfolio of reinsurance arrangements, ensuring a robust control framework and audit trail process is adhered to.

• Carrying out / reviewing detailed analysis of insured data extracts to determine any data changes for a portfolio of reinsurance arrangements.

• Checking / reviewing annual calculation of the revised Premium Schedule and any over/under payment due.

• Ensuring all materials produced are appropriate to share with Reinsurers and Trustees and in line with contractual terms, this will also include collaboration with internal and external stakeholders.

• Assisting / reviewing new transaction materials and on-boarding of all new reinsured schemes onto the reinsurance administration system within a timely manner.

Skills and experience we’re looking for:

• Strong numerical skills - experience in Reinsurance Operations or experience of direct involvement in pension transactions, including knowledge of defined benefit pension specifications is desirable but not essential.

• Strong communication skills and collaborative outlook required to build relationships and work effectively with internal and external stakeholders.

• Ability to work efficiently and manage multiple deadlines, to ensure that all tasks are completed on time with a good attention to detail to ensure that all materials are produced to a high standard.

• Good working knowledge of Microsoft Excel packages.

What you’ll get for this role:

Our purpose - with you today, for a better tomorrow – is a promise we make to our colleagues too.  And one of the ways we live up to that promise is by investing in you.  We have so much to offer when it comes to being an Aviva colleague.

• Salary ranges from £70,000 - £90,000 (depending on skills, experience and qualifications).

• Bonus opportunity - 10% 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 all backgrounds and experiences. Excited but not sure you tick every box? Even if you don’t, we would still encourage you to apply. We also consider all forms of flexible working, including part time and job shares.

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.

To find out more about working at Aviva take a look here

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.

We’d love it if you could submit your application online. If you require an alternative method of applying, please give Dylan Wood a call on 07385 426164 or send an email to Dylan.wood@Aviva.com.