Senior Risk Actuary

Job Description

The Senior Risk Actuary sits within Quantitative ERM and supports the independent oversight of insurance risk across the Group, ensuring alignment with risk appetite, capital, and strategy. The role applies technical expertise across a range of topics to support business decision-making, risk identification and mitigation, and the delivery of the insurance risk agenda in partnership with stakeholders globally.

Key Responsibilities

• Support the development and delivery of the Insurance Risk Assurance Plan across all risk-taking entities.
• Provide independent challenge of business plan loss ratio assumptions, assessing whether key assumptions (including rate change, inflation, development patterns, catastrophe load, portfolio mix, growth and reinsurance strategy) are reasonable, supported and internally consistent, identifying material downside risks, areas of uncertainty and implications for earnings, capital and risk profile.
• Support insurance risk stress and scenario testing, including scenario design, quantitative impact assessment, challenge of results and reporting to management and Board forums.
• Support second-line oversight and challenge of reserve analyses, methodologies, assumptions and judgements, forming an independent view on reserving adequacy and uncertainty.
• Support targeted insurance risk deep dives and thematic reviews (e.g. class performance, inflation, market cycle dynamics).
• Deliver ad hoc quantitative analysis to support executive decision‑making on emerging risks and strategic initiatives.
• Support with Group and legal entity CRO executive and Board forum reporting.
• Provide independent review and challenge of insurance risk components of regulatory submissions and capital assessments, including ORSAs, PRA exercises, Solvency II Technical Provisions, SCR calculations and Standard Formula appropriateness assessments.
• Maintain up-to-date technical expertise and awareness of regulations and professional guidance.
• Build and maintain strong relationships across the wider business and the broader Risk team.