Actuary (Nearly/Newly Qualified) – With Profits – Scottish Friendly – Glasgow

Scottish Friendly

Job Description

Do you want to be part of something more than just a financial services business? Do you believe everyone, regardless of wealth, should have the opportunity to save and look after their loved ones? Do you want to be part of something that has been here for 160 years and help it be here for 160 more?

Scottish Friendly have an exciting opportunity to join the Actuarial Department in the role of Actuary (Nearly/Newly Qualified) – With-Profits. Based in Glasgow City Centre, we are one of the most progressive mutual life insurance offices in the UK. We have a strong, clear culture which has grown since 1862 with our customers and colleagues of today and the future being at the heart of that growth.

Reporting to the Chief Actuary, the key responsibilities for this role include:

  • Supporting ongoing activity relating to the financial management of the with-profits fund including, but not limited to:
  • Development and enhancement of run-off plans for relevant funds.
  • Development and embedding of financial management framework for all with-profits funds.
  • Maintenance of with-profits miscellaneous surplus distribution policy.
  • Maintenance of with-profits excess surplus distribution policy.
  • Strategic initiatives, including M&A and with-profits transformation activity,
  • Process improvement and efficiency.
  • Capital initiatives.
  • Production of proposals relevant to the financial management of with-profits business such as bonus recommendations, changes to PPFMs and annual report on compliance with the PPFMs.
  • Liaison and interaction with other departments, including IT, Pricing and Risk.
  • Attendance at Executive and Board level committees as relevant.
  • Support of wider actuarial function or wider business, as required.

The successful candidate be newly or nearly qualified with a good working knowledge of with-profits products and their operation. As this is a new role, it is the ideal opportunity for someone with a desire to develop their professional and commercial skillset.

With assets under management of over £5bn and more than 700,000 members we have lots to look after and lots more to do. If you want to be part of the team and you think this is you, we would love to hear from you.

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