Actuarial Specialist – c. £60,000 to c. £85,000

Location Norwich and London

This is a great job for someone who…

This is an exciting opportunity for a qualified actuary or experienced actuarial analyst/manager to work on the Solvency UK capital calibrations for the UK, Ireland and Canada general insurance businesses. You’ll take on the challenge of understanding how risky the business, is how variable reserves are for property versus future claims risk for motor and beyond and then set how much capital we need to hold to allow for this risk over time. Alongside the business‑as‑usual work, we are upgrading and improving our tools and processes using R to add further value and insight to our stakeholders.

This role would suit a diligent expert who enjoys analysing and presenting results regularly, alongside methodology development. An actuarial background with some previous experience of Solvency reporting would be advantageous. We will be working to incorporate the Lloyd’s syndicate, Probitas, into our internal model, so some experience of Lloyd’s would be helpful but not necessary.

A bit about the job:

The role requires the analysis of historical data and exercising of judgement to produce the calibrations used to run the Internal Model. This involves running calibration tools, hosting expert panels, and documenting the decisions and decision‑making processes. Results will need to be presented to the Economic Capital Technical Review Committee and the Chief Actuary and will include validation.

Each year, a trigger process is run to identify areas that need focus and which calibrations to run, alongside model and tool development, to keep approaches up to date with current thinking. Models are MS Excel and R‑based. Our work cycle is annual, with a few key deliverable dates to Group, but broadly flexible.

Skills and experience we’re looking for:

A qualified Actuary or equivalent by experience, with good communication and stakeholder skills
Good analytical skills with a developed capability to interpret data and establish alternatives and solutions to complex problems; must also be comfortable with a level of ambiguity
A good understanding of the financial working of GI business and capital, with prior experience of Lloyd’s of London an advantage
An innovative mindset, constantly looking for ways to improve things
Some experience of risk modelling is desirable; hands‑on experience with R would also be an advantage

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.

Starting salary between c. £60,000 and c. £85,000 (depending on location, 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
Aviva-funded Private Medical Benefit to help you get expert support when you need it
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 at least 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'd love it if you could submit your application online. If you require an alternative method of applying, or if you have any queries in relation to the vacancy, please give email seema.rana@aviva.com

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