Reinsurance Actuarial Analyst

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🕒 March 19

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Phoenix Group

WebsiteLinkedInAll Job Openings

5001 - 10000 employees

Phoenix is the UK’s largest long term savings and retirement business. Our customer brands include SunLife, Standard Life, Phoenix Life, and ReAssure. While we have a thriving ‘open’ business through the Standard Life and SunLife brands, a key driver of value for us is our expertise in managing ‘heritage’ books of business no longer open to new customers.

📋 Description

• Generating regular account and collateral reports using our integrated reinsurance administration system • Checking movement data received from Trustees and reasonableness checks on final deliverables produced by the administration system • Reviewing annual data extracts to identify changes from the previous year and determining whether an update is required to reinsurance data • Timely production of annual exercise materials, including premium amounts and surrender values, using the reinsurance administration system • Analysis of benefit specification to determine the structure and timing of benefits payable under the reinsurance arrangement • Helping to provide oversight of complex member benefit calculations and member options with our administrators in order to build up benefit knowledge and understand reinsurance benefit simplifications • Testing new arrangements as they are implemented onto the reinsurance administration system to ensure the benefits are operating as set out in the benefit specification • Follow robust processes set out in supporting documentation, highlighting any opportunities for process improvement that may arise • Responsible for ensuring all work produced is clearly documented and has a suitable audit trail and version control • Following the best practises with respect to the management of our reinsurance contracts. • Building and maintaining quality stakeholder relationships with a keen eye for detail

🎯 Requirements

• A strong numerical degree (e.g. Mathematics) with a minimum 2:1 classification • Demonstrated interest in pursuing actuarial exams to enhance their technical expertise and pursue career as an Actuary • An understanding of pension benefits and bulk annuity products whilst contributing to the creation of bespoke models would be desirable • Proven ability to meet and exceed performance targets by monitoring progress, prioritising tasks, and applying structured problem‑solving methods to resolve obstacles and deliver business outcomes. • Actively pursues professional development by identifying specific technical or role‑related skill gaps, completing relevant training or certifications, and applying new learning to improve job performance. • Knowledge of Microsoft office, specifically Excel

🏖️ Benefits

• From £35,100 depending on experience plus bonus • Private medical cover • 38 days annual leave • Excellent pension • 12x salary life assurance • Career breaks • Income protection • 3x volunteering days • Flexible working options