ALM Actuary

Job title:

ALM Actuary

Company

Just

Job description

At Just we encourage a flexible and agile working environment for the majority of our opportunities. Get in touch with us to discuss in more detail.Who are Just?We’re a FTSE 250 Financial Services company who specialise in retirement solutions and right now, our world is moving pretty quickly. With the defined benefit buy in / buy out space growing each year, Just continues to annually grow its business by over £4bn of assets.We are a purpose driven company with compelling and credible goals. Quite simply, we help people achieve a better later life. We achieve this by providing competitive and innovative products, services, financial advice and guidance to help our customers achieve security, certainty and provide them with peace of mind in retirement.That’s who we are. We’re a company on a mission: to become a beacon for the entire retirement industry. Because we believe everyone deserves a fair, secure, and fulfilling retirement.PurposeALM Actuary supports ALM Leads and Senior Actuaries in the team to manage the ALM position of the Group and the regulated insurance entities within the Group. The ALM team manages and leads the development of a resilient economic and capital position to enable the delivery of Just Group’s financial objectives.Job Role Accountabilities

• Support the development, modelling and maintenance of back book and front book investment performance and variances, where required, communicate with key stakeholders of emerging risks and strategies to meet financial objectives.
• Support the risk identification, modelling, monitoring and management of interest rate risk and other key market risks of Just Group and Life entities.
• Perform quantitative analysis of the forward-looking ALM position of each regulated insurance entity and the overall Group, and recommend actions to ensure the investment portfolio remains appropriate and within appetite.
• Support the efficient management of the Matching Adjustment Portfolios, including internal securitisation of LTMs to produce LTM notes, optimisation of the Matching Adjustment Portfolio(s) and timely production of regular Management Information for senior committees.
• Support the assessment of liquidity and ALM implications of Group projects related to new assets, new liabilities and other initiatives.
• Analyse the efficiency of, and recommend actions and strategies (including hedging) to optimise the ALM position in light of overall business objectives (e.g. capital, liquidity, profit or other metrics) and past performance.
• Support the development and maintenance of a capital, liquidity and economic projection platform to facilitate robust analysis of wider “what if” scenarios.
• Implement first line validation activities in accordance with the validation framework and facilitate appropriate action in response to validation findings.
• Support the personal development of junior members in the team and delegate work where required and appropriate.

Examples of Key ActivitiesThe following sets out some of the key day to day activities:

• Assess interest rate exposure on a regular basis and perform sensitivities to assist with forming a recommendation for changes to hedging.
• Oversee the new business asset and liability data flow to ensure ALM risk assessment is managed in a controlled manner and up to date.
• Produce regular Management Information on the ALM position, investment performance, hedging recommendation and the compliance and efficiency of the Matching Adjustment Portfolio(s) to committees and senior stakeholders.
• Support the delivery of key strategic projects for the business with significant ALM and capital impacts.
• Become established as a technical lead in a number of areas involving ALM.

Skills and Knowledge

• Strong technical and analytical skills with high attention to detail
• Able to take initiative to proactively identify issues and solve problems
• Strong verbal, written communication and interpersonal skills
• Good understanding of the products and services provided by the Just Group and UK life peers
• Good understanding of life business model and processes
• Excellent knowledge of Excel, VBA and at least one other object-orientated programming language, e.g. Python.

Experience

• Proven problem analysis and resolution experience
• Experience of ALM, hedging, capital management, risk management, UK Solvency regulations (SII or SUK) and IFRS 17
• Experience of model development and maintenance
• Qualified FIA, FFA or equivalent

Why Just?We are committed to building a more sustainable business and have publicly committed to reduce our scope 3 emissions to Net Zero by 2050 and our scope 1 and 2 emissions to Net Zero by 2025. We’ve made good progress so far and encourage our people to make small and meaningful changes in their everyday lives, so that we can protect our planet for future generations.Diversity, Equity and inclusion (DE&I) is a key priority for Just as part of our overall strategy and ensuring all of our people feel proud to work at Just. We have joined a number of initiatives including the Race at Work Charter, designed to improve outcomes for employees from underrepresented backgrounds. We also run a Reciprocal Mentoring scheme for employees from a BAME background, those with a disability and those who identify as LGBTQ+. There are multiple employee network groups, which champion issues including race, gender, social mobility and neurodiversity.What’s clear about working at Just is that we care. We care about our customers, our purpose, our environment, inclusivity, wellbeing and most importantly – each other.About UsWe’re a FTSE 250 Financial Services company who specialise in retirement solutions and right now, our world is moving pretty quickly.How people work, save, and plan for the future is all changing. A new generation of retirees needs a new kind of retirement company. A company who will look for new ways of doing things – and will always put the customer first.That’s who we are. We’re a company on a mission: to become a beacon for the entire retirement industry. Because we believe everyone deserves a fair, secure, and fulfilling retirement. And with you on our team, we’re going to make sure they get it.We’ve built our sustainability strategy around the United Nations Sustainable Development Goals (SDG) and have selected goals where we believe we can make the most difference. By aligning our activity with these global goals, we can make sure we play our part in addressing the wider issues facing the planet and leave a positive legacy to the world. You can read more about our sustainability strategy .Diversity, equity and inclusion are priorities for us. Having a diverse, talented workforce with colleagues of different backgrounds, world views and experiences is the right thing to do. It’s also the most effective way to succeed, innovate and better serve our customers now and in the future. We are committed to our targets on gender and ethnicity and run a number of successful mentoring and sponsorship programmes for our colleagues from diverse backgrounds. We have multiple active employee network groups which champion issues including gender, ethnicity, sexual orientation, disability and neurodiversity. You can read more about our DE&I strategy and commitments .What’s clear about working at Just is that we care. We care about our customers, our purpose, our environment, inclusivity, wellbeing and most importantly – each other. We look forward to welcoming you to the team soon.

Expected salary

Location

London

Job date

Thu, 14 Nov 2024 06:37:33 GMT

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