A 12 month Fixed-Term Contract (FTC) opportunity has arisen within the UK Life Actuarial Function team. 

This role sits within the Actuarial Function team in the UK Life Risk function. The UK Life Risk function plays a pivotal role across the UK Life business in supporting first line management to understand, assess and manage key risks, and associated key controls, which enables the business to make better decisions.

Reporting to the Life Economic Capital Life Lead, you’ll be supporting Aviva’s Internal Model, supporting the team accountable for risk calibrations and providing support for capital requirements methodology more widely.  You will be involved in the review of proposal arising from the Group Actuarial Function team and support the Finance team in implementing the methodology.

The role also involves advising key stakeholders and senior management from the Finance teams, the Investment team, the Pricing teams, the Annuity Asset Origination team and Group team as to the capital requirements implications of business activity and emerging methodology.

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:

Supporting the development of Solvency II risk calibrations and risk correlations;

Support the review of calibrations and Credit Portfolio Model results produced outside of the team;

Ensure risks are identified for inclusion in the Internal Model;

Ensure that triggers are monitored to assess the adequacy of our capital calibrations;

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; and

Assist with explaining assumptions to senior management and regulators.

Skills & experience we would to see:

Nearly or newly qualified actuary

Ability 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

Knowledge of Life insurance products and risks

Knowledge of credit risk modelling

Knowledge of assumption setting processes for demographic risks

Knowledge of Microsoft Excel and Word

CM3, IM3, R, Python, VBA knowledge desirable

What will you get for this role?

A salary between £40,000-£50,000 depending on location, experience and qualifications

Generous defined contribution pension scheme

Annual performance related bonus and pay review

Holiday allowance of 29 days plus bank holidays and the option to buy/sell up to 5 additional days

Up to 40% discount for some Aviva products through “My Aviva Extras” plus discounts for Friends and Family (some exclusions apply)

Excellent range of flexible benefits to include a matching share save scheme

Working at Aviva

At Aviva, we’re people with a purpose. To be with you today, for a better tomorrow.

We bring this to life by ensuring managing risk is at the heart of the way we all work. We love people who do the right thing for our customers, and our colleagues. We want people who speak up, who take responsibility, and who make good decisions.

The way we do this is important too. We’re all about our people – that’s you – so we can be pretty flexible. If you want to work from home some of the time or change your hours so you can pick up your kids or care for someone in your family, we’re very open to that. In fact, we don’t advertise roles as either part or full time, because we know each person has different needs, just as each business area has different needs. So, it’s up to you to discuss working hours during your interview.

We care deeply about being inclusive and that means we encourage applications from people with diverse backgrounds and experiences. We want our employees to bring their whole self to work and that starts with you.

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

We’d love it if you could submit your application online. If you require an alternative method of applying, please give Daniela Krol a call on 0121 234 7660 or send an email to daniela.krol@aviva.com 

*As defined in The Equality Act 2010*. By ‘minimum criteria’ we mean you should provide us with evidence which demonstrates that you generally meet the level of competence required and have the qualifications, skills or experience defined as essential to perform the role.