Actuarial Analyst - (Part-Time, Job-Share and Full-Time)

Actuarial Analyst - (Part-Time, Job-Share and Full-Time)

Location: Flexible (must be within a commutable distance to Fareham or London)

The opportunity: 

An excellent opportunity has arisen for an Actuarial Analyst to join the P&C Actuarial Reserving Team, working on the UK General Insurance (P&C) IFRS 17 Project. This role will initially be working remotely, and will then be based in either Fareham or London.

IFRS 17 is a new International Financial Reporting Standard which will fundamentally change the way entities account for insurance and investment contracts. The purpose of introducing this standard is to align insurance company reporting frameworks across the globe and increase their consistency, comparability and transparency.

You will work closely with the wider project team both in the UK and the wider Zurich Group, as well as with our UK Reserving teams to continue the development of the process and to understand and interpret results, helping to bring insights to senior stakeholders such as the UK Chief Reserving Actuary, UK Finance Controller and UK CFO.

This role is available part-time, job-share or full-time. This is because we want the best people for our roles, and we recognise that sometimes those people aren’t available full-time.

Key Responsibilities: 

  • Assist with the completion of testing of the Premium Allocation Approach (PAA) tool to calculate reserves in a timely manner, working with the IFRS 17 Actuarial project team and Group and raising defects as necessary including validation of results.
  • Timely delivery of these results and associated commentary as part of the 2021 Light Parallel Run.
  • Identify and raise any risks or issues and ensure any mitigating actions are documented and implemented.
  • Draft suitable Actuarial Methodology papers to support decisions and obtain approval form the Project Steering Committee. Responsibility and ownership taken of the relevant papers.
  • Support the review of actuarial processes and implement any required changes ensuring a smooth handover into business as usual, working with other actuarial teams as appropriate.
  • Support the process to ensure any changes to systems and processes adhere to the controls and governance framework.
  • Update the project plan for those activities participated in.

    • Your skills and experience:

  • Qualified or Part-qualified actuary making good progress towards qualification.
  • Bachelor’s degree (or equivalent) in Computer Science, Economics, Engineering, Finance, Mathematics/Statistics, Other Sciences.
  • A serious and professional attitude towards compliance of regulatory submissions with an eye for attention to detail in order to support accuracy.
  • Good communication and interpersonal skills to be able to effectively interact and negotiate at all levels.
  • Be able to deputise for the Lead Actuary and provide potential solutions even when this is not an area of expertise.
  • Influence and constructively challenge the direction of the team
  • Not only provide support to the wider organisation but understand the purpose of any request and ensure that the information is relevant for the purpose of the request.
  • Have a good knowledge of actuarial professional guidance and relevant legislation.
  • R and SQL programming skills desirable.
  • Professional manner.
  • Enthusiastic, positive attitude.
  • Able to cope with change.
  • Able to manage and meet deadlines.
  • Able work under pressure.

    • The reward:

    As well as a competitive salary we also offer an excellent lifestyle benefits package which includes:

  • 12% Non Contributory pension scheme
  • Annual company bonuses
  • 25 days holiday plus an additional 3 volunteering days
  • Private medical cover
  • Income Protection
  • Life Cover
  • Discounted gym membership,
  • Discounted gadget insurance
  • Discounted technology offers
  • Virtual GP appointments
  • Plus much more!

    • At Zurich we will consider requests for flexible working on hiring. Many of our employees work flexibly in many different ways, including part-time, flexible hours, job share, an element of working from home or compressed hours. Please talk to us at interview about the flexibility you may need.

    Who we are:

    With about 55,000 employees serving customers in more than 170 countries we aspire to become the best global insurer as measured by our shareholders, customers and employees. If you're interested in working in a dynamic and challenging environment for a company that recognises and rewards your creativity, initiatives and contributions - then Zurich could be just the place for you. The success of our business is built on the contributions of our highly talented employees - people who work every day to position us at the forefront of the insurance industry. We therefore look to hire great people and we encourage those people to give their best.

    You’ll feel the support of being part of a strong and stable company. A long-standing player in the insurance industry, we make every effort to address the career development needs and plans of our employees to ensure their success in the future.

    Further information:  

    At Zurich we are proud of our culture. We are passionate about Diversity and Inclusion. We want you to bring your whole self to work we have a diverse mix of customers and we want our employee base to reflect that.

    Our diversity and inclusion initiatives are creating an environment where everyone feels welcome regardless of protected characteristics.

    With the above in mind we accept applications from everyone regardless of your background, beliefs or culture however we especially welcome applications from women, people from ethnic minorities, people with a disability and people who are LGBT+ as these groups are currently under-represented in our organisation.

    We are committed to continuous improvement and we offer access to a comprehensive range of training and development opportunities. Zurich is passionate about supporting employees to help others by getting involved in volunteering, charitable and community activity through the Zurich Community Trust.

    We have won numerous awards for our work on Diversity and Inclusion. We are also proud to be nominated for the 2020 Insurance Times award for Diversity and Inclusion. You can read about our awards on our website.

    So make a difference. Be challenged. Be inspired. Be supported, Love what you do. Work for us.