Job Posting End Date: 06/21
We are Unum (pronounced you-num) and we’re one of the UK’s leading financial protection insurers; that means we sell Income Protection, Critical Illness cover and Life Insurance. You may not have heard of us before, so you probably don’t know that we’ve been around for over forty years and insure more people under our Income Protection products than Aviva, Legal and General, or Canada Life – companies you’re more likely to have heard of. We are working towards becoming the Employee Benefits provider of choice for working Britain.
Purpose: To develop and manage Solvency II, USGAAP and UKGAAP reporting processes to provide timely and accurate Balance Sheet and P&L results for internal and external reporting purposes.
- To manage the Solvency II reporting processes to provide timely and accurate results for presentation to Capital Management Group, RCSC and Risk Committee, covering:
- Internal Model balance sheet
- Transitional Measures on Technical Provisions (including ICA calculations)
- Capital forecasts
- Analyses of change
- Profit & Loss Attribution
- Stress & Scenario analyses
- Standard Formula results
- Economic Capital balance sheet
- Work with the Risk team on production of the ORSA.
- To manage the actuarial elements of Pillar III reporting, including quarterly QRT’s, annual QRT’s, the SFCR and RSR, working closely with the wider business.
- Play a key role in the USGAAP, UKGAAP and Claims MI reporting processes and relevant input to the business plan to provide timely and accurate results and analyses.
- Use balance sheet results to provide insight into the performance of the business, recommending business action as appropriate.
- Play a key role in assessing and implementing regulatory developments, in implementing changes in the risk profile e.g. reinsurance and other relevant business projects.
- Play a key role in pro-actively developing processes within the team.
- Liaise with the Line 2 validation team, Internal Audit and external auditors as required.
- To provide line management, guidance and coaching for actuarial students within the Actuarial Results & Analysis team, as required.
- Ensure the continued protection of Unum’s information, by following all applicable Information Security policies and procedures and by reporting suspected weaknesses in information security controls to the Information Security Officer.
- Ensure Treating Customers Fairly (TCF) & Risk Management is fully understood and embedded throughout your team / department / company and that Risk & TCF implications are considered in promoting a culture that supports company activities.
- Comply with Unum’s Code of Conduct and other Company Policies and Procedures as appropriate to the role.
- Delivers Results
Sets high goals for personal accomplishment and contribution to team/department goals; monitors progress and works diligently to meet/exceed goals.
- Develops Self & Others.
Develops strong business partnerships as a result of credibility, comprehensive understanding of the business, and openness to diverse ideas/ experiences and strong leadership skills; viewed as a subject matter expert by others. Provides high level of technical/professional knowledge and mentoring; stays ahead of internal and external trends.
- Makes Effective Decisions
Applies critical thinking to make good fact-based decisions after assessing potential business implications holistically; shows good judgment in options selected.
- Strong Business Acumen
Applies broad business knowledge of internal/external trends and evolving customer needs to lead and drive change, provide highly credible advice/counsel, and identify potential business process/ technology improvements that best achieve business goals.
- Strong Influencing Skills
Uses appropriate influencing strategies and compromise to gain genuine agreement and achieve area and business goals.
- Values Driven
Interacts with others, internally and externally, in a way that gives them confidence in one's intentions and those of the organization; operates with highest integrity/ethics.
Required Knowledge and Skills:
- Newly qualified actuary (up to 5 years pqe).
- Previous experience in life insurance valuation reporting or Solvency II.
- Ability to keep abreast of Solvency II advances, including having a strong base of financial economic knowledge, and statistical skills
- Knowledge of using and coding in MoSes a benefit for results investigation.
- Knowledge of databases, particularly SQL a benefit
- Highly numerate with good IT skills
- Good communication and interpersonal skills, with the ability to liaise with and lead teams, ensuring excellent levels of verbal and written communication at all times.
- Motivated, enthusiastic and enquiring.
- The ability to work under pressure, managing own time to meet tight deadlines and managing competing and conflicting demands within your workload.
- Able to manage a number of actuarial trainees, and provide on the job and career coaching.
- Need 2 Know training
- Management Development training
Minimum entry criteria:
- Newly qualified actuary.
- Previous experience in life insurance valuation reporting.
- Will have high levels of accuracy and attention to detail and figures.
- Will have a logical approach to work methods and the ability to work to strict deadlines
- Will be IT literate with experience in using packages including Word and Excel and be willing to learn further skills, including programming languages.
This is a great opportunity to work for a UK subsidiary of a global organisation, we look after our employees, offer a great work-life balance, generous benefits, a professional challenge and fantastic career opportunities.