General Insurance Actuary Job at Social Value Portal Ltd (London)

General Insurance Actuary

Social Value Portal Ltd

Location:
United Kingdom , London

Category:
Insurance

Contract Type:
Not provided

Salary:

76851.00 - 86708.00 GBP / Year

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Job Description:

Do you want an actuarial career with a difference? Where you can have a real impact working with government departments and the wider public sector. If yes, then a career at the Government Actuary's Department (GAD) could be for you. At GAD our mission is to support effective decision-making and robust reporting within the public sector as the first-choice provider of actuarial and specialist analysis, advice and assurance. The department's work covers valuation work and policy support in relation to pension schemes, insurance and contingent liabilities, financial risk, and social security. We also provide financial modelling and quality assurance. We offer great working benefits including a world-class pension, flexible working options and a career where your learning and development is taken seriously. You will be a key technical supporting actuary for our general insurance clients. The purpose of the role is to support our engagement and delivery of actuarial advice to help them make more effective and informed decisions. The work is significantly more varied than a traditional general insurance reserving actuary given the public sector context. For example, supporting the client holistically on producing financial statements, cashflow and pricing considerations, adapting to changes in client remit and wider policy support, or situations where there may be limited data or novel areas of risk such as when government may act as insurer of last resort.

Job Responsibility:

Leading technical calculations on general insurance related actuarial advice to public sector risk-pooling arrangements (such as the schemes operated by NHS Resolution and the Risk Protection Arrangement for schools). This includes advice in relation to reserving and pricing but also wider policy advice
Leading on work involving general insurance expertise in the field of government insurance support and contingent liability management
To maintain and build on existing approaches to seek efficiency savings and error-free processes
Manage and oversee project delivery, through collaborating with colleagues to ensure all work is appropriately scoped and delivered in an efficient and timely manner with a focus on providing value for money for our clients
This includes: Specifying work, monitoring output and providing feedback
Effective project management
Challenge and improve existing processes
and Working with more junior staff to mentor and develop them and liaising with colleagues across the organization in client leading teams
The role requires a consistently high level of service to be provided and for work to be undertaken within professional requirements. This includes: Ensure technical outputs are robust and clearly aligned to scope
Apply judgment in performing proportionate reasonableness checks
Identify situations where different technical approaches might be appropriate
Lead on small projects and larger process driven projects
Able to apply skills across a broader range of work, adapting approaches and learning new tools or subject matter as required to support multiple projects
Scoping tasks and supporting junior staff to update appropriate quality calculations to agreed time-scales and within budget
Complying with peer review procedures and all professional actuarial and GAD guidance
Developing both your own skills, and those of junior colleagues to meet the evolving nature of GAD's work
To ensure effective and agile co-operation with other teams within GAD, including flexible working across teams as required to meet client demand. In particular, the Insurance Provisioning team, the Insurance Provisioning Calculation Team (GAD's insurance provisioning analytical hub), and the Contingent Financing team
To maintain an up-to-date knowledge of role-relevant actuarial and other matters (including meeting all CPD requirements)

Requirements:

Fellow of the Institute and Faculty of Actuaries, IFoA, or equivalent actuarial professional body
Detailed knowledge of UK general insurance actuarial concepts and techniques
Leading technical calculations on general insurance related actuarial advice to public sector risk-pooling arrangements (such as the schemes operated by NHS Resolution and the Risk Protection Arrangement for schools)
This includes advice in relation to reserving and pricing but also wider policy advice
Leading on work involving general insurance expertise in the field of government insurance support and contingent liability management
To maintain and build on existing approaches to seek efficiency savings and error-free processes
Manage and oversee project delivery, through collaborating with colleagues to ensure all work is appropriately scoped and delivered in an efficient and timely manner with a focus on providing value for money for our clients
This includes: Specifying work, monitoring output and providing feedback
Effective project management
Challenge and improve existing processes
and Working with more junior staff to mentor and develop them and liaising with colleagues across the organization in client leading teams
The role requires a consistently high level of service to be provided and for work to be undertaken within professional requirements
This includes: Ensure technical outputs are robust and clearly aligned to scope
Apply judgment in performing proportionate reasonableness checks
Identify situations where different technical approaches might be appropriate
Lead on small projects and larger process driven projects
Able to apply skills across a broader range of work, adapting approaches and learning new tools or subject matter as required to support multiple projects
Scoping tasks and supporting junior staff to update appropriate quality calculations to agreed time-scales and within budget
Complying with peer review procedures and all professional actuarial and GAD guidance
Developing both your own skills, and those of junior colleagues to meet the evolving nature of GAD's work
To ensure effective and agile co-operation with other teams within GAD, including flexible working across teams as required to meet client demand
In particular, the Insurance Provisioning team, the Insurance Provisioning Calculation Team (GAD's insurance provisioning analytical hub), and the Contingent Financing team
To maintain an up-to-date knowledge of role-relevant actuarial and other matters (including meeting all CPD requirements)
Managing a Quality Service
Seeing the Big Picture
Working Together
Communicating and Influencing

What we offer:

A Civil Service Pension with an employer contribution of 28.97%
Exceptional learning and development opportunities that you can explore alongside your day-to-day work
25 days annual leave per year, increasing to 30 days after 5 years' service. In addition, we offer 9 days public and privilege days leave per year (pro rata for part time staff)
5 days of paid volunteering leave
Up to 9 months maternity leave on full pay + generous paternity and adoption leave
Staff reward and recognition bonuses that operate throughout the year
Occupational sick pay
Family-friendly policies such as help with caring responsibilities, special leave, generous paid maternity, paternity, and adoption leave
Access to employee assistance programme which offers staff 24/7 confidential support and resources such as counselling, debt guidance and management advice
The opportunity to join a trade union
A working culture which encourages inclusion and diversity
Salary advances for travel costs, including annual season tickets and cycle-to-work schemes
Access to the Edenred employee benefits system which offers discounts to popular retailers and access to various useful resources such as financial and savings advice
Complimentary BUPA health check for permanent staff

Additional Information:

Job Posted:
May 05, 2026

Expiration:
May 29, 2026

Work Type:

On-site work

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