Location: London, England, United Kingdom
Job Number: 1154
This is an exciting time to join Aviva’s Defined Benefits Solutions team as a Reinsurance Manager. The role sits in our dynamic, growing and motivated Reinsurance and Structuring Team who drive success for the Defined Benefit Solutions business unit. We believe our brand, financial strength, asset origination capability and pricing advantage and corporate relationships offering as well as our in-house administration perfection, ideally place us to be a partner of choice for our clients.
We are looking for new talent to develop and implement de-risking solutions for defined benefit pension schemes, collaborating across the wider Aviva network to deliver compelling, commercial results for the client and Aviva.
In this role we'll develop an understanding of the complex dynamics of the firm’s internal model with regards to bulk annuities as well as prudential capital and balance sheet impacts - with an opportunity to support and partner with our wider BPA teams responsible for deal origination, pricing and annuity asset origination. We’re focussing on structuring risk transfer, credit and market risk transactions to free up regulatory capital and enable competitive pricing of new bulk annuity deals.
The role’s duties & responsibilities:
- Structuring complex transactions, including pricing and modelling work
- Technical reviewing of legal documentation for reinsurance transactions and collateral arrangements
- Preparing technical papers and documentation for internal governance and approval processes
- Interacting with external clients and internal business partners – a focus on negotiation, governance, reports and problem-solving
- Supporting the reinsurance tender process and assisting with analysis of reinsurance terms
- Working with the BPA Pricing and Deal Management teams to optimise commercial outcomes
- Adapting to new and different transaction responsibilities
Skills & experiences required:
- Significant commercial experience in an insurance company, consultancy or a bank
- Strong experience of structuring/reviewing legal documentation
- A part-qualified or nearly/newly qualified actuary, or significant experience in a quantitative role
- Experience of cashflow and financial modelling – specifically in modelling or pricing bulk annuity products would be an advantage
- Degree in a quantitative field with experience of analytical tools and techniques - strong mathematical/actuarial background and Excel/VBA skills
- UK pensions knowledge is also desirable
What will you get for this role?
- A competitive salary depending on skills, experience and qualifications
- Generous defined contribution pension scheme
- Annual performance related bonus and pay review
- Holiday allowance of 29 days plus bank holidays and the option to buy/sell up to 5 additional days
- Up to 40% discount for some Aviva products through “My Aviva Extras” plus discounts for Friends and Family (some exclusions apply)
- Excellent range of flexible benefits to include a matching share save scheme
Oh, and by the way…
At Aviva, we always ‘Care More’. It’s our thing. We’re all about our people – that’s you – so we can be pretty flexible. If you need to work from home some of the time or change your hours so you can pick up your kids or care for someone in your family, we’re very open to that. We’ll even try to bend work around your further studies or hobbies where we can.
We care deeply about welcoming people no matter where they’re from, how old they are or what disability they have. We encourage applications from every age, race, ethnicity, disability, gender, gender identity, religion, culture, sexual orientation, national origin, marital status, pregnancy, maternity or caring responsibility. We want our employees to bring their whole self to work and that starts with you!
As part of that we interview every disabled applicant* that meets the minimum criteria for the job. Just send us an email once you’ve applied, and we’ll make sure we interview you.
If you like the sound of all that, we’d love it if you could submit your application online! For an alternative method of applying, please give Dan Hopchet a call on: 0121 234 7625 or ping them an email at: Daniel.Hopchet@Aviva.com.
*As defined in The Equality Act 2010*. By ‘minimum criteria’ we mean you must provide us with evidence which demonstrates that you generally meet the level of competence required and have the qualifications, skills or experience defined as essential to perform the role.
Job Number: R-89013
Community / Marketing Title: Reinsurance Manager
Location: London, England, United Kingdom