We’re First Central Insurance & Technology Group (First Central for short), an award-winning innovative insurance and technology organisation, delivering market-leading motor insurance, underwriting, distribution, finance, technology and legal services.
We currently have an exciting opportunity for an Assistant Actuarial Analyst to join our Underwriting Finance Capital Team team in our offices in Salford Quays, Manchester, or Haywards Heath, West Sussex on a hybrid work pattern.
You'll provide analysis and insight for the team, through regulatory reporting and making recommendations to the Capital Actuarial Analyst and Capital and Insurance Manager supporting them on capital implications of reinsurance, investment and other business initiatives.
To be successful in this role, you’ll need to:
- Preferably Degree educated (Finance/Actuarial Science, Mathematics or Computing an advantage)
- be an Actuarial Student (advantage) or some experience as Actuarial Analyst
- Strong analytical skills with an eye on details
Job responsibilities:
Capital Modelling
- Assist in the maintenance and running of the Standard formula model on a quarterly basis, including updating all relevant parameters
- Assist in the maintenance and running of the Economic capital model on a quarterly basis, including updating all relevant parameters
- Ensure models are fully documented to remove key person dependency
- Support in producing monthly high-level forecasts of solvency and economic capital coverage
- Support in the production of forecast capital projections to support quarterly reforecast process and strategic planning cycle
- Undertake model runs to support business decision making – for example reinsurance strategy, investment policy, new product development etc
Solvency II Reporting
- Support the preparation of the regular Solvency II Pillar 1 modelling and supporting files.
- Support the preparation of bridging analysis and associated commentary on monthly movements and variance to forecast
- Support the Solvency II Accountant in production of quarterly regulatory AQRT submissions and ad-hoc queries as required.
Stakeholder Management and business partnering
- Create effective working relationships with key stakeholders across the finance and underwriting teams
- Add value through support of the business in commercial decision making, providing financial analysis support as necessary
Strategic and Commercial Acumen
- Develop an understanding and knowledge of key business performance (KPI’s) drivers and be able to draw conclusions from the suite of KPI’s available
- Support the production of Management Information (MI) to escalate any major changes in KPIs to relevant stakeholders
Planning and Forecasting
- Assist the Capital Actuarial Analyst with the creation of the capital elements of annual Budget and quarterly reforecast, gathering relevant data.
- Support various business analyses, e.g. the ORSA, stress and scenario testing, etc.
Job-specific competencies
Experience & knowledge
- Some insurance industry knowledge and experience in actuarial analysis
- Motor insurance experience and/or Capital modelling experience
Skills & Qualifications
- Good communication skills, both verbal and written
- Good time management and organisation skills
- Deadline driven
- Excellent numeracy skills
- Excellent Excel skills
- Commercially aware and focused
Behaviours
- Team player and ability to forge relationships at all levels within the organisation
- Ability to work with ambiguity or to make broad assumptions to make a recommendation
- Self-motivated and enthusiastic
- An organised and proactive approach
- Ability to work on own initiative and as part of a team
- A flexible approach and positive attitude
- Strives to drive business improvements to contribute to the success of the business
So, if you’re up for the challenge and would like to join our vibrant and busy team, we want to hear from you today.
What can we do for you?
We believe we can offer you a great working environment as we’re so passionate about our people. Here are just some of the benefits and perks that we offer…
- Fantastic training and development opportunities
- Employee benefit packages to suit your lifestyle
- Flexible working
- YOUday – we give you an extra day off to celebrate a special day
- The opportunity to take a paid day off each year to do charity work
- A health cash plan
- Help with travel expenses
- The opportunity to buy additional holiday
- Company pension scheme
- Group life assurance
- Enhanced maternity and paternity pay
- Professional subscription fees paid
Employee wellbeing is high on the agenda here too. We provide a weekly free fruit delivery, discounted membership at a local health club and access to an Employee Assistance Programme, which promotes physical and emotional wellbeing at work and at home. In addition, we provide wellbeing events throughout the year to support physical and mental health.
For further information on what we can offer and to learn more about this role, feel free to contact our dedicated Recruitment team.
