Economic Capital Manager

30 Sep 2017
03 Nov 2017
Contract Type
Full Time
Aviva provides around 31 million customers worldwide with insurance, savings and investment products. We are the UK’s largest insurer and one of Europe’s leading providers of life and general insurance. We combine strong life insurance, general insurance and asset management businesses under one powerful brand. We are committed to serving our customers well in order to build a stronger, sustainable business, which makes a positive contribution to society, and for which our people are proud to work.

Aviva’s a new global operating model for Finance, based on shared services supporting the markets and a leaner corporate centre consists of four pillars.

The four pillars of this global operating model are:

Aviva Finance Markets (AFM): a commercial team who will be a co-pilot to the market CEOs and business leadership teams.Aviva Finance Operations (AFO): a highly effective and agile team managing resources and providing excellent services to the rest of our function.Aviva Finance Technical (AFT): a team of Finance experts who will leverage our global technical expertise in areas like investments, tax, hedging, re-insurance and actuarial advisory to provide “solutions” which are consistent across Finance.Aviva Finance Corporate (AFC): an insight-oriented team who will own headquarter functions such as Investor Relations, Capital Allocation, Treasury, Financial Planning & Analysis, and Mergers & Acquisitions.The Team

This role is part of the Aviva Finance Operations (AFO) team: a highly effective and agile team managing resources and providing excellent services to the rest of Aviva’s Finance function. This team, under the leadership of our global process owners, will be responsible for our core Finance operational and reporting processes.

The AFO Financial Reporting team generates the IFRS financial statements and notes, Solvency II QRTs and narrative reports. In addition, it runs the Group consolidation process and produces analysis reports.

The Group Economic Capital Reporting (EC) team is responsible for

The production, aggregation, and monitoring of the group Solvency II positionExplaining the main drivers of the group Solvency II surplus and coverage ratio to key stakeholders‘What if’ analysis on SII KPIs as required by the wider Finance function and the businessCollaborating to enhance the Group wide economic capital methodology, systems and processes in line with Finance’s better, cheaper and faster aspiration. The Person

The EC manager supports the EC team to maintain the overall integrity of the group aggregate SII position, and explaining the main drivers of group SII results.

The role requires a thorough knowledge of EC methodology, systems, processes as well as group’s structure (and associated capital implications).

Duties & Responsibilities

Support the senior managers in:

Consolidation of the Group financial data.Key deliverables include (but are not limited to) the half yearly Analyst Pack.Quarterly regulatory submissions.Annual regulatory submissions to the PRA.Monthly estimates and ad hoc estimates as required supporting capital and risk management initiatives.Production of economic capital reports and analyses (annually, quarterly, monthly, weekly) to internal and external parties.Provide clear explanations of key items.Skills & Experience required


Degree level or equivalentQualified or nearly qualified actuary with significant SII/economic capital experienceSkills/Knowledge:

Good communication skills – Ability to communicate across all levels and across different geographies.Ability to work independently and on their own initiative and know when to escalate.Ability to identify problems and help resolve these or escalate as appropriate.Qualified or nearly qualified actuary with significant SII/economic capital experienceGood knowledge of economic capital methodologyGood stakeholder management, communication skills and cultural awarenessGood business / market knowledgeStrong analytical and problem solving skillsGood written communication skills and ability to communicate complex issues simplyStrong team working skills and ability to collaborate effectively with other colleagues from different disciplinesProactive and willing & able to operate successfully in a fluid resource environment on multiple deliverables with appropriate prioritisation.Attention to detail.Analytical review skills.Experience:

Good financial/regulatory reporting and accounting skills.Prior experience of Financial Reporting or capital modelling in a complex insurance environment, knowledge of best practice and emerging developments in similar multinational organisations would be a benefit.Strong controls focus to avoid financial misstatement and messaging errors, ensuring own work is adequately reviewed.Additional Information

Bring to Aviva what makes you different and we’ll support you to do the best work of your life. We encourage applications from everyone who wants to help us achieve our purpose of helping our customers to Defy Uncertainty.

Becoming a more inclusive and diverse organisation is a business imperative. 87% of our people feel that people from diverse backgrounds can succeed at Aviva. We are accelerating our strategy through innovative practices and expert partners.

One of Aviva’s core values is Care More, and this is brought to life through the flexible ways we like to work. This may include working from home some of the time, of flexible work schedules to accommodate parent and career responsibilities, further studies and hobbies.

We prefer all applications to be submitted online, however if you require an alternative method of applying please contact Alistair Buchanan in the Resourcing team.

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