Lead Risk Actuary/Risk Actuary – With Profits
Salary: Competitive, based on skills and experience
Contract Type: 12 Month Fixed Term Contract - 35 hours a week (part time options considered)
Location: Hybrid working (office based in Birmingham) – typically 2 days (prorated for part time) in the office per week
Closing Date: 27th May 2026
Shape Brighter Futures with Wesleyan
Established in 1841, Wesleyan help trusted professionals—GPs, hospital doctors, dentists, and teachers—secure their financial future.
Today, we’re proud to continue that mission with passion and purpose. If you’re looking for a role where your expertise makes a real impact, and you want to work in a culture that values collaboration, innovation, and integrity, we’d love to hear from you.
Find out more about who we are: Wesleyan - Life At Wesleyan | Careers at Wesleyan
Make a Difference
Reporting to and working closely with the With Profits Actuary, this role plays a vital part in delivering good outcomes for with-profits policyholders. This role gives the rare opportunity to gain experience of attending With Profit Committee meetings and to contribute to other governance committee meetings including the Product Governance Committee and Actuarial Technical Committee (on behalf of the With Profits Actuary as required).
As a mutual, the with-profits fund sits at the heart of our strategy and decision making. The role involves understanding the end-to-end strategy of a complex business that covers advice, distribution and insurance manufacturing.
Your Impact
Here’s how you’ll make a difference:
· Support the With Profits Actuary in delivering key actuarial advice across the with‑profits business
· Support the provision of expert advice to the Executive, With Profits Committee, Society Board and wider business on the exercise of discretion and its impact on fair customer outcomes
· Influence critical decisions including bonus allocation, surrender and transfer values, surplus distribution, investment strategy, run-off planning/execution and new product development
· Ensure all discretion is exercised in line with the Society’s Rules, PPFM and regulatory requirements, including COBS 20
· Provide actuarial input to support Board assurance over Solvency II Technical Provisions and discretionary benefit assumptions
· Support regulatory engagement, ORSA production, stress and scenario testing, and thematic risk reviews impacting with‑profits policyholders
· Potentially support projects in other areas in the Risk Function such as model validation.
· Act as a senior contributor within the Risk Function, promoting a positive culture.
What You’ll Bring
· Qualified actuary (Fellow of the Institute and Faculty of Actuaries) or equivalent.
· Experience within a life office environment or consultancy, with knowledge of with-profits management desirable.
· Experience of Solvency II either capital management, model validation, model development or reporting desirable.
· Excellent written and verbal communication skills.
· Ability to express opinions and challenge judgement, backed by evidence, in a professional manner
· Strong judgement; ability to filter out the key issues.
· Advocate of diversity of thinking.
· Knowledge of the regulatory environment that impacts with profits.
· Ability to build relationships across the business.
· Adaptable to change.
Benefits That Work for You
We believe rewards should reflect the life you live. Here’s what you can expect:
1. Annual bonus to recognise your contribution.
2. 28 days holiday (plus a culture day!) – rising to 30 days with service.
3. Flexible hybrid working for better work-life balance.
4. Company pension scheme – matched plus 2% (up to 10%).
5. Free secure underground Birmingham city centre parking (subject to availability, weekend use included).
6. Salary sacrifice schemes that help you provide the things that matter – to include PMI, Electric Vehicle Leasing and cashback on everyday essentials.
7. Enhanced family leave and two volunteering days to give back to causes you care about.
Discover the full range of benefits: Wesleyan - Rewards and Benefits | Careers at Wesleyan
Why Wesleyan?
We’re building a culture where everyone belongs. Diversity isn’t just a policy—it’s part of who we are. Whatever your background, we want you to feel valued and empowered to thrive. We’re proud supporters of the ABI Making Flexible Work campaign, which means we’re open to discussing flexible working, job shares, and part-time options.
If you need reasonable adjustments during the recruitment process, just let us know—we’re here to support you.
What to Know Before Applying
8. Right to Work: We’re unable to provide VISA sponsorship, so you’ll need the legal right to live and work in the UK.
9. Advert Closing: We typically advertise for two weeks but may close early if we receive a high volume of applications—apply early to avoid disappointment.
10. Regulatory Requirements: As a financial services organisation, we adopt the highest standards. This role is subject to regulatory checks, including criminal record and credit checks, and ongoing assessments under the SMCR Framework.
Ready to Shape Your Future?
Apply today and join us in creating brighter financial futures—for our customers, our members, and you.