Review Actuary

We have an incredible opportunity to join us here at Phoenix Group as a Review Actuary in our newly established Retirement Solutions Actuarial Balance Sheet team.

Role: Retirement Solutions Review Actuary

Job Type: Permanent

Location and flexible working: This role can be based in our Edinburgh, Wythall or Telford offices. We recognise the benefits of flexible working and will discuss what is important to you and balancing this with business requirements during the recruitment process.

Salary and benefits: £70,000 - £80,000 plus a target 16% bonus up to 32%, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more

We have an incredible opportunity to join us here at Phoenix Group as a Review Actuary in our newly established Retirement Solutions Actuarial Balance Sheet team.

As a Review you will work with the Retirement Solutions Balance Sheet Lead to establish a team of Review Actuaries and Actuarial Analysts to produce and review monthly Profit and Loss Attribution analysis and a range of ad-hoc investigations in support of the balance sheet for Phoenix's Retirement Solutions business (including Bulk Purchase Annuities, Equity Release Mortgages and Residential Mortgages).

You will develop new processes and enhance existing processes to create a high quality package of regular analysis and insight into the actual and expected movements in the Retirement Solutions balance sheet in responses to changes in demographic and economic assumptions, loss function calibrations and strategic asset trading impacts.
You will work collaboratively with colleagues and senior stakeholders across a wide range of teams in Phoenix, including the Financial Reporting Centre, Retirement Solutions Commercial Finance and the Open Division Finance Function, to provide vital insight to support strategic decision-making.

Joining a completely new team, you will have the opportunity to help shape how it operates and interacts and will manage and support the development of actuarial team members.

Who are we?

We want to be the best place that any of our colleagues have ever worked.

We are the UK's largest long-term savings and retirement business with c.13 million customers and c.£310 billion of assets under administration. As a market leader and FTSE 100 organisation, we understand that our scale and expertise means that we have a key role to play for our customers, colleagues and our communities to help as many people as possible secure a life of possibilities. We are tackling key environmental and social issues such as transitioning our portfolio to net zero by 2050 - but we're not done yet.
We've seen huge growth and change, and this means there is enormous opportunity for our 8,000 colleagues to grow alongside us.

Flexible working

You can expect to work in a hybrid manner with time spent working in the office and at home. We believe that work/life balance offers benefits for customers as well as ensuring that you can balance a successful career with your life outside of work. We will discuss flexibility, what is important to you and balancing this with business requirements during the recruitment process.

We want to hire the whole version of you.

We are committed to ensuring that everyone feels accepted and safe at work, and are proud to be an equal opportunity employer. Everyone is valued at Phoenix regardless of age, gender identity, neurodiversity, race, disability, sexual orientation, religion, ethnicity, socioeconomic background or anything else. Whether it's joining one of our internal employee networks, being an ally, taking positive action or simply being there to listen, everyone at Phoenix is valued and respected.

If you need any help or adjustments to the recruitment process due to health, disability or anything else, please let us know so we can help you to be the best version of yourself.

The role

As a Review you will work with the Retirement Solutions Balance Sheet Lead to establish a team of Review Actuaries and Actuarial Analysts to produce and review monthly Profit and Loss Attribution analysis and a range of ad-hoc investigations in support of the balance sheet for Phoenix's Retirement Solutions business (including Bulk Purchase Annuities, Equity Release Mortgages and Residential Mortgages).

You will develop new processes and enhance existing processes to create a high quality package of regular analysis and insight into the actual and expected movements in the Retirement Solutions balance sheet in response to changes in demographic and economic assumptions, loss function calibrations and strategic asset trading impacts.
You will work collaboratively with colleagues and senior stakeholders across a wide range of teams in Phoenix, including the Financial Reporting Centre, Retirement Solutions Commercial Finance and the Open Division Finance Function, to provide vital insight to support strategic decision-making.

Your team will also support strategic change projects from across the open business division and you may have the opportunity to act as a business lead on certain projects.

Joining a completely new team, you will have the opportunity to help shape how it operates and interacts and will manage and support the development of actuarial team members.

What are we looking for?

We are looking for a qualified actuary with varied experience in actuarial reporting, or other life actuarial disciplines with a strong track-record of delivery in a commercial environment.

Knowledge of financial reporting metrics, including SII and IFRS is highly desirable, as is experience of reporting on those metrics are highly desirable. Experience delivering consistent quality work within fixed and often tight deadlines is also highly relevant to the role.

Someone who is keen to learn quickly in a changing environment having a strong appetite for change and experience of driving continuous improvement will fit well with the role.

An understanding of how new business interacts with a Life Insurance balance sheet is desirable, as is knowledge of capital metrics and new business capital strain and a particular understanding of annuity business, matching adjustment and experience of the assets side of the balance sheet. Good working knowledge of the Defined Benefits (e.g. BPA) and Long Term Mortgage (e.g. ERM) markets is also desirable.

You will have an ability to build strong relationships and drive action through influence and collaboration across boundaries, combined with experience and ability to influence and communicate effectively with a variety of colleagues and senior stakeholders from different disciplines across the business.

Building capability through developing our people is hugely important at Phoenix. As an actuary in the Open Actuarial Planning, MI and New Business team you will play a role in the development and management of actuarial analysts and trainee actuaries in the team.

Why choose us?

Bring your 'whole self', skills and dedication to the Phoenix Group and we'll recognise your effort, support your development and help to drive your ambition. We'll ensure you're rewarded for your contribution with a competitive package that includes an attractive pension, annual bonus potential, private medical insurance, generous holiday entitlement, enhanced maternity and adoption leave and a range of other financial services and lifestyle flexible benefits.

Sound good? If you are ready to help us make Phoenix the best place you've ever worked, we'd love to hear from you.

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