Risk Capital Reporting Manager

Recruiter
Aegon
Location
Midlothian
Salary
63200.00 - 79000.00 GBP Annual + dependent on experience
Posted
15 Oct 2020
Closes
21 Oct 2020
Job Type
Other
Employer Sector
Banking & Finance - Retail
Contract Type
Contract
Hours
Full Time
Travel
None

12 month Fixed Term Contract

Summary of Role

This role focuses on, and is responsible for, delivery of the actuarial results required for Solvency II, Market Consistent Value of New Business, and Group economic capital reporting. This includes responsibility for regular Solvency II estimates and the quarterly Solvency II reporting processes, ensuring a centre of excellence for economic capital reporting and surrounding control framework. The role also plays a significant part in supporting the development of the Aegon UK Medium Term Plan, and the Own Risk and Solvency Assessment.

Key Tasks:

  • Manage the preparation of the Solvency II results for Scottish Equitable plc Non-Profit Sub Fund liabilities and actuarial tax calculations. Ensure a process of checks, controls and comprehensive review and challenge is in place around all results with the aim of minimising the risks of incorrect reporting of numbers.
  • Manage the consolidation of the Solvency II results for Aegon UK, and critically analyse and communicate results. This includes the quarterly and annual Pillar 3 disclosures produced for the PRA and Group, and regular solvency estimates.
  • Ensure a process of checks, controls and comprehensive review and challenge is in place around all results with the aim of minimising the risks of incorrect reporting of numbers.
  • Support responses to requests from regulators and benchmarking surveys on Solvency II, and provide input to Board capital papers.
  • Manage the preparation of the New Economic Framework / Market Consistent Value of New Business results, and critically analyse and communicate results.
  • Manage the preparation of Solvency II results for the Aegon UK Medium Term Plan to ensure that the projected capital generation is fully understood. This includes the preparation of Solvency II run-off plan results to support dividend assessments.
  • Contribute to project work as required to help ensure Finance as a whole can undertake change and development to meet reporting and regulatory obligations. In particular, provide support to capital management initiatives and developments for Solvency II reporting.
  • Lead and develop a team of actuarial subject matter experts to support the delivery of the requirements of the role.

Skills & Knowledge:

  • Obvious gravitas and personal credibility.
  • Strong mathematical and actuarial skills and the ability to explain complex actuarial outcomes to a less technical audience.
  • Strong communication skills.
  • Strong planning and organisational skills.
  • Sound judgement and ability to operate independently and on own initiative.
  • Strong strategic and commercial awareness.
  • Ability to make recommendations, that have highly material financial consequences, with clarity and conviction.
  • Strong interpersonal skills with the ability to influence, and communicate effectively with, managers at all levels.
  • Able to understand and interpret the implications of regulatory capital requirements both for existing and new regulations on our business.
  • Very high level of mathematical and actuarial ability.
  • A detailed understanding of the impact of financial markets and other external factors on solvency.
  • A detailed understanding of the requirements of Regulatory (PRA) reporting and rules.
  • An excellent working knowledge of the Solvency II rules including Pillar 3 disclosures.
  • A detailed understanding of capital risk measurement methodologies.

Experience:

  • Experience of UK life insurance regulation, capital management and reporting.
  • Experience of communicating and influencing at the highest levels of an organisation.
  • Experience of managing and developing professionals to build strong actuarial teams with a track record of delivery.

Qualifications

Qualified actuary (fellowship level)

This role is on a 12-month Fixed Term/Secondment basis. Please submit your application by the closing date of 23 October 2020.

Salary

Competitive salary dependent on experience from GBP63,200 to GBP79,000.

Benefits

In return, we can offer you career development and a range of financial services benefits including:

  • Non-contributory Pension between 8% and 12% dependent on age
  • Car allowance - GBP4,400
  • 29 days holiday entitlement + statutory holidays
  • Flexible benefits including private health care, income protection and life assurance with additional voluntary benefits available
  • Subsidised on-site restaurant including Subway and Costa
  • Free on-site multi-story car park
  • On-site gym facilities

Equal Opportunity Employer

We are an equal opportunities employer and welcome applications from all suitably qualified persons regardless of their race, sex, disability, religion/belief, sexual orientation or age...... click apply for full job details