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Senior Economic Capital General Insurance Actuary

London, UK
Closing date
30 Nov 2020

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Job Details

Aviva are currently recruiting for a Senior Economic Capital General Insurance Actuary to join our internal Reinsurer - Aviva International Insurance Limited (AII). AII's purpose is to capture the diversification of Aviva Group risks in a single legal entity and boost the Group's liquidity and capital efficiency. This role, as AII's sole dedicated General Insurance (GI) 1st line resource, is critical to the management of AII's GI reinsurance treaties with Aviva UKGI, Aviva Canada and Aviva France GI.

The primary purpose of the role will be to ensure that the performance of the AII's GI treaties is optimised and that the obligations of the treaties are met. AII needs to understand the risks that it is exposed to from its reinsurance treaties, how these are changing over time and whether the treaties should be changed to better handle those risks. This role has a high level of influence in a small, high profile team being involved in many strategic projects.

The role also includes work to develop further GI reinsurance treaties and make changes to existing treaties to optimise the amount of GI risk accepted by AII. The role provides an outstanding opportunity to encourage understanding of risks being accepted by our Group's most material GI business units whilst also gaining an understanding of legal entity responsibilities. The role holder will be involved in understanding both actual experience and the expected future outlook through involvement in AII's capital forecasting and Plan processes.

Aviva introduced smart-working in 2020, and this role can be home-based anywhere in the UK, but will require regular travel to our London office up to 3 days a week, and less frequent travel to the Norwich office, with potential international travel once a year.

The role's duties & responsibilities:
  • Understanding and communicating the evolution over time of the risks accepted from AII's GI cedants and the impacts on AII's economic capital, liquidity and IFRS positions
  • Building positive relationships with AII's GI cedants to ensure the efficient flow of information when responding to significant external events and BAU Plan/reporting requirements
  • Identifying, assessing and developing possible business development opportunities with GI entities
  • Supporting the optimisation of the AII balance sheet through understanding the impact of existing treaties
  • Using internal model sensitivities or estimates, calculating the capital impacts on AII of actual and potential events, managed actions or treaty changes
  • Providing GI expertise to support the implementation of IFRS17 in AII

Skills & experiences required:
  • A qualified GI actuary with significant post-qualification experience, ideally gained within a general insurance or reinsurance company environment
  • A strong mix of relationship management, communication (written, verbal) and technical actuarial skills
  • Familiarity with capital models for GI entities on an internal model basis
  • Experience in capital management (implementing management actions to achieve a particular capital/liquidity outcome) would be advantageous
  • Evidence of consistently delivering to time and quality, and experience of stakeholder management across a range of disciplines and seniority levels

What will you get for this role?
  • A salary up to £95,000 depending on location, skills, experience and qualifications
  • Generous defined contribution pension scheme
  • Annual performance related bonus and pay review
  • Holiday allowance of 29 days plus bank holidays and the option to buy/sell up to 5 additional days
  • Up to 40% discount for some Aviva products through "My Aviva Extras" plus discounts for Friends and Family (some exclusions apply)
  • Excellent range of flexible benefits to include a matching share save scheme

Working at Aviva

At Aviva, we're people with a purpose. To be with you today, for a better tomorrow.

We bring this to life by ensuring managing risk is at the heart of the way we all work. We love people who do the right thing for our customers, and our colleagues. We want people who speak up, who take ownership, and who make good decisions.

The way we do this is important too. We always 'Care More'. It's our thing. We're all about our people - that's you - so we can be pretty flexible. If you want to work from home some of the time or change your hours so you can pick up your kids or care for someone in your family, we're very open to that. In fact, we don't advertise roles as either part or full time, because we know each person has different needs, just as each business area has different needs. So, it's up to you to discuss working hours during your interview.

We care deeply about being inclusive and that means we encourage applications from people with diverse backgrounds and experiences. We want our employees to bring their whole self to work and that starts with you.

We interview every disabled applicant* that meets the minimum criteria for the job . Just send us an email once you've applied stating that you have a disclosed disability, and we'll make sure we interview you.

We'd love it if you could submit your application online. If you require an alternative method of applying, please give Daniel Hopchet a call on 0121 234 7625 or send an email to .

*As defined in The Equality Act 2010*. By 'minimum criteria' we mean you should provide us with evidence which demonstrates that you generally meet the level of competence required and have the qualifications, skills or experience defined as essential to perform the role.
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