UK Based (Edinburgh/ London/ Birmingham)
Our Life and Pensions client require a number of Senior Actuaries to help support on an exciting project for an initial 6-month contract.
The role
Working closely with the Reinsurance Operations Lead, you will support many aspects of the overall reinsurance operations journey, the role would fit somebody looking for a challenge and has experience in ensuring reinsurance arrangements are administered efficiently and accurately.
Key responsibilities will include:
* Ability to complete a reinsurance reconciliation to establish whether the administration of the reinsurance is in line with those specified under the reinsurance treaty, this includes:
* Identifying and reconciling any differences underlying inception data
* Identifying and reconciling actual vs revised claims and premium projections since inception
* Reconciling movements since inception
* Reconciling lump sum settlements since inception
* Assessing and implementing the impact of any reconciliation on collateral calculations
* Preparing comprehensive reports detailing the results of the reconciliation of management
* Designing and creating sophisticated cashflow project models (using excel) for the projection of premium, claims, lump sum calculations and collateral valuations.
* Responsible of ensuring historic basis reviews were implemented accurately
* Acts as a key point of escalation in dispute resolution processes, effectively addressing issues and facilitating discussions to achieve timely and satisfactory outcomes
* Establishing and implementing processes ensuring templates are clearly documented and have a suitable audit trail and version control. Creating models and practises to ensure compliance and mitigate risks
* Work with software architects, technology, and data teams to define requirements for, design, and support the development of a centralised reinsurance treaty administration database, ensuring accurate storage and management of contract terms and ongoing reinsurance data.
* Configure, test, and validate reinsurance arrangements within the reinsurance administration system, ensuring calculations, cashflows, collateral mechanics, and contractual benefits operate in line with agreed benefit specifications.
* Develop and test end‑to‑end data feeds underpinning reinsurance operations, ensuring data completeness, accuracy, auditability, and effective resolution of defects to support ongoing administration and reporting.
What are we looking for?
* Have 5+ years' experience working within the pensions and/or life and/or longevity reinsurance space
* Extensive knowledge and experience of completing reinsurance reconciliations
* Thorough technical understanding of Defined Benefit pensions
* Ability to communicate effectively with a technical actuarial audience and simply communication of technical issues to a non-technical audience
* We are looking for an individual who prides themselves on building and maintaining quality stakeholder relationships and has a keen eye for detail.
* Extensive commercial knowledge of pension de-risking products including bulk annuities and longevity swaps would be desirable
If this role sounds of interest, please apply and I will call you to discuss.
Guidant, Carbon60, Lorien & SRG - The Impellam Group Portfolio are acting as an Employment Business in relation to this vacancy.
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