Economic Capital Actuary (GI)

Yorkshire and the Humber
10 Feb 2018
15 Feb 2018
Contract Type
Full Time
Location: York
Salary: Up to £65,000 + 10% bonus & benefitsAviva 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 service excellence to the rest of Aviva’s Finance function. This team, under the leadership of our global process owners, will be responsible for our core global Finance operational and reporting production processes.

Within AFO, we have a dedicated team supporting the group’s reinsurance market finance team, responsible for all financial reporting relating to Aviva International Insurance Limited (AII) and Aviva Re. AII is a substantial captive insurer, with over £50bn of assets, writing both Life and GI business, and plays a pivotal role in the success of Aviva, supporting the business to achieve targeted financial returns and maintaining the confidence of our shareholders and regulators.

Our strategy is to drive commercial value, deliver excellence in capital and solvency management, drive operational excellence and operate as one outstanding team. Aviva Re is Aviva’s offshore captive reinsurance vehicle, which provides further targeted opportunities around capital and solvency management, as well as running off historic liabilities.

The Person

The primary purpose of the role will be in relation to the production of economic capital information to support the Market Finance team of Aviva International Insurance Limited (AII).

AII is the Aviva Group’s onshore reinsurance retention vehicle writing both Life and General insurance business.
AII is an integral part of Aviva’s group’s capital management strategy.

Duties & Responsibilities

  • Internal and external reporting deadlines achieved
  • Accuracy of results
  • Identification of risks
  • Maintain effective relationship with External Auditors
  • Accurate and timely completion of inputs to economic capital figures, CLR and reserving reports
  • Accurate and timely completion of relevant management information
  • Effective and insightful commentary to support management information
  • Effective and professional relationships are maintained with service provider(s) and all other stakeholders
Skills & Experience required


  • Degree level or equivalent.
  • Qualified Actuary with relevant GI modelling and reporting experience.

Overall mix of relationship management skills and actuarial and internal model (preferably Aviva’s IM3 model), and Group consolidation skills including:

  • Good insurance regulatory knowledge particularly in relation to solvency II, including standard formula economic capital in respect of GI business
  • Knowledge of modern actuarial skills and technical reinsurance modelling and the ability to apply these in a practical and efficient manner to benefit business performance
  • Strong analytical skills.
  • Ability to prioritise work and manage multiple projects / deadlines.
  • Insurance (particularly reinsurance) IFRS accounting knowledge
  • Insurance regulatory knowledge, particularly in relation to Solvency II,
  • Ability to work effectively in a multicultural environment
  • Ability to understand and interpret large amounts of data and narrative, and summarise it into succinct, meaningful and insightful commentary
  • Ensure deliverables to very high qualitative standards and against concurrent deadlines
  • Influencing and relationship management skills essential
  • Good knowledge of insurance products and markets
  • Proactive stakeholder management skills
  • Excellent communication skills, both written and oral
  • Prioritisation capabilities

  • Track record of delivery (e.g. projects, product launches, financial reporting) to tight timescales
  • Insurance/reinsurance business experience
  • Good awareness of Solvency II Pillar 1 and Pillar 3 requirements, with a working knowledge desirable
  • Experience of preparing Solvency and Financial Condition Reports and Regular Supervisory Reports
  • Experience of working in an international firm, with significant interactions across multiple stakeholders
  • Experience of Aviva Group Internal Model consolidation tools (IM3), Igloo, VBA and excel
  • Experience of the Aviva risk management systems, including iCare
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.

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