Product Migration Actuary – home based
A leading European Reinsurer and Consolidator with a proven track record of successfully acquiring and operating portfolios or direct insurers in Europe, is seeking a home-based Product Migration Actuary.
Reporting to the Lead Product Actuary, you will be required to ensure the robust migration of insurance portfolios (unit linked, protection, annuities) onto the clients outsourced policy administration platform.
As a Product Migration Actuary, you will be required to undertake the following duties:
Liaise with strategic outsourced service providers to interpret policyholder contractual obligations in a consistent manner and determine appropriate customer outcomes whilst allowing for PRE.
Implement calculation solution(s) to validate policy admin valuation outcomes for relevant stakeholders via a set of pre-defined expected results.
Validate that proposed service provider administration solutions are consistent with interpretation of customer outcomes.
Validate that proposed service provider generic and book-specific calculation methodologies are consistent with interpretation of policy admin valuation outcomes.
Validate that proposed service provider calculations are accurate in accordance with expected results.
Determine appropriate acceptance criteria for set-up and policy on-boarding activity, including down-stream and lifecycle events.
Create metric-based recommendation papers where the estimated cost of implementing a change outweighs the calculated benefit of continuing to collect a fee or charge on a specific product.
Create appropriate sign-off packs.
We are looking for a Product Migration Actuary who has the following skills and experiences:
Direct experience of policyholder administration migrations for life assurance business, especially in the unit linked space and involving the European cross- border market.
Qualified actuary with extensive relevant actuarial experience across a broad range of disciplines.
Strong understanding of life insurance and operational intricacies, across unit-linked insurance and guaranteed products with exposure to annuity, and protection products.
Knowledge of the European insurance market and some exposure to other financial and capital market sectors.
Ability to interact with technical and non-technical audiences at all levels, within and across organisational boundaries.
Strong organisational, influential and communication skills (ideally the ability to speak multiple European languages).
You will also be required to complete a Criminal Records Bureau and Equifax Credit check for this project.
In return, a Product Migration Actuary will receive a salary of £900 per day, depending on experience.
You are encouraged to apply for any opportunities that you feel to be suitable, irrespective of age or level of experience. A successful candidate will ideally come with a background in pension’s administration.