Admiral Group is currently recruiting for an Actuarial Trainee to join the Actuarial and Financial Risk team. This is an ideal opportunity for someone who is looking to start an actuarial career, or is a few years into their actuarial career, within a company where the award-winning culture is key to the success of the business.
The Role
You will be reporting directly to the Head of Financial and Actuarial Risk. The role will be split across traditional areas of actuarial and financial work, from a second-line risk perspective. It will include oversight of areas such as:
- Reserving, capital, underwriting, and reinsurance
- Treasury and Investment risks
- Stress and Scenario Testing
Other more general responsibilities which are relevant include:
- The monitoring and maintenance of our requirements under Solvency II
- Supporting the various regulatory and accounting workstreams where required
- Building a close relationship with other departments including claims, pricing and investments & treasury
- Attending meetings to develop an understanding of the wider business.
As a part of the team, you will be involved in the review and challenge of work completed by the first-line finance and actuarial teams in the UK. You will also support, and review work completed by the finance and actuarial functions within Admiral’s overseas underwriting entities covering France, Spain, Italy, and the USA.
As an actuarial trainee, you will work towards an actuarial qualification (FIA, AIA) with the Institute and Faculty of Actuaries, with Admiral providing a generous study package to support you in achieving this.
The Team
The Financial and Actuarial Risk Team is a new team established in 2020 to provide a Group focus on key financial risks within the Group. The team currently has five team members including four actuaries with a focus on insurance risk and a financial risk manager with a focus on investment risk and intragroup financial risks. Team members work flexibly in their roles and support other team members as well as the wider Group Risk Team. The strong Admiral culture is important to how the team works.
As a trainee joining our team, you will receive on-the-job training from subject matter experts that will help you to make a meaningful contribution to Admiral from day one and quickly progress to taking on additional responsibilities. Further formal development opportunities will be provided which will allow you to grow into someone who will help drive and promote actuarial work across the Group.
The flat management structure and increasingly global reach of Admiral Group means you will soon pick up a diverse range of skills and have contact with Senior Managers and Directors from early on in your career, giving a challenging but ultimately rewarding environment.
What we’ve done so far this year…
In the first two months of this year the team has completed:
- a reserve review to provide the Group Audit Committee and Group Board comfort over the IFRS best estimate and recommended booked reserves
- a review of the capital plan and capital requirements
- a new dashboard to give up-to-date information on written exposures
- several investments and intragroup papers considering risks and recommendations for managing financial risk within the Group
Candidate Profile:
- Excellent academic background and strong numerical and analytical skills - a degree in a subject with a mathematical element (2:1 or equivalent) is preferred
- Strong written and verbal communication skills and the ability to build relationships across different departments in the wider business
- Good organisational skills and the ability to prioritise and plan your workloads
- Proficient with Microsoft Office applications, in particular: Excel, Word, and PowerPoint, with VBA, R, and/or SAS experience a bonus but not required
- An eye for detail – an ability to delve into the detail behind the data/spreadsheets to challenge existing calculations
- A strong work ethic - committed and enthusiastic about an actuarial career, with a genuine interest in actuarial issues.
About Admiral
We're Wales’ only FTSE 100 company. We have forward-thinking approaches and provide endless opportunities to test, learn and grow. There's a reason we've been named a Best Place to Work: our progressive culture, core values, and commitment to diversity and inclusion have created a working environment where people share ideas, aren’t afraid to speak up and change things, and above all, feel valued.
Admiral has grown from being a small start-up into a multi-national organisation. The company is constantly investigating new products, services and markets and is now present in eight countries with a diverse product portfolio.
Our success goes hand-in-hand with having a strong culture where we put our people and customers first. Our philosophy is simple yet effective: people who like what they do, do it better, and this, in turn, means that our customers receive the level of service and products that they deserve. Our culture is honest, open and wholeheartedly focused on four key areas:
Communication, Equality, Reward & Recognition, and Fun.
Salary, Benefits and Work-Life Balance
We do not have a set salary for this position, as it will be dependent on the successful candidate’s experience. We are happy to see CVs from all candidates who meet the requirements and will be happy to discuss the remuneration package.
At Admiral, we are proud to be a diverse business where we put our people and customers first. We have great benefits to ensure employees have a great work-life balance; it's one of the reasons why we're consistently voted one of the Sunday Times’ Best Big Companies to work for in the UK. We want you to have an element of freedom to define a working lifestyle that supports this, so accommodate flexible hours wherever possible.
You can also view some of our other key benefits here; https://admiraljobs.co.uk/employee-benefits/.
If you think this role is for you and would like to be considered for this opportunity, please click “apply now” to complete an online application form.
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