Research Actuary

The Role:

At HRUK we believe superior intelligence supports better decisions – using data insights and the latest research in health and medicine to price and manage our risks and develop tangible commercial benefits for our business.

Our Biometric Research Team vision is focused on: 

Robust Central Bases 

Our central bases assumptions are core to the business. They guide us in understanding, pricing, and managing biometric and behavioural risks with precision and confidence. We're always working to improve our tools and techniques, ensuring they are market leading and fit for the future. 

Best in class research

We conduct forward looking research to monitor how medical advances in diagnosis and treatment will affect the mortality and morbidity risks our clients face and understand how social, environmental, behavioural and health trends are changing consumer needs. Our comprehensive & systematic research leverages medical expertise, actuarial techniques, and data analytics to bring new insights, to drive innovation and support the development and pricing of new protection benefits and reinsurance solutions.

Exceptional Data Insights

We develop and embed data science tools and techniques to create data insights that will generate opportunities, drive value, make decisions, manage risk, and support innovation. We keep abreast of the latest innovations in data, evaluating and proposing the adoption of new technologies, tools, and methodologies, ensuring that HRUK remains at the forefront of these fields.

Duties & Responsibilities:

Lead projects to develop and maintain central bases and assumptions. Communicate and engage with key stakeholders to ensure buy-in of the proposals. Identify and analyse relevant data (including ‘non-traditional’ data attributes as well as experience analyses of the in-force portfolio). Conduct and critically assess research into factors affecting biometric and behavioural risks undertaken by HRUK.  Quantify the impact of emerging risks in relation to central bases and develop and implement solutions to mitigate these emerging risks. Maintain an understanding of the treaty pricing and valuation processes to ensure that the central bases are applied correctly and consistently.  Support the implementation of our Branch Data Strategy, improving access to and use of data, efficient data management and developing data analytics techniques.  Participate in shaping the team's strategic direction, creating, and implementing solutions aimed at realizing our vision. Be a change driver by identifying how new methodologies, processes and tools can be incorporated into Branch processes and influence others to adopt your proposals.  Support junior members of the team to enable them to excel. Ensure that they are able to develop through formal and informal training. Collaborate with and support Business Development as follows: Assess and evaluate the impact of risk definitions and coverage and make recommendations and workable proposals for action; Continuously refine risk models to incorporate new rating factors and data; Develop and present market and client presentations on research topics; Develop and maintain the core CI pricing sheets insuring trends and issues are identified, and recommendations are made. Maintain a high level of knowledge of the industry with a focus on how these impact HRUK and its clients. Transfer this knowledge across HRUK as required. Risks and Controls Design, implement and maintain process controls to ensure the quality of the output of the department. Ensure documentation of work and output is accurate, up-to-date, and accessible; Adhere to all local and Group Guidelines. Support all other department activities, including peer review of work produced by other department members as required.

About You:

Qualifications Required:

Qualified Actuary with at least 5 years PQE or experience in a similar role.

Experience:

Life & Health (Re) Insurance industry experience.  Experience of actuarial and data analysis techniques to analyse biometric data. Experience in setting demographic assumptions. 

Skills:

Strong working knowledge of actuarial, data and medical research and developments. A good understanding of statistical and data science techniques especially relating to interpretation of biometric insurance risks. Appetite and interest in trying new innovative techniques. Knowledge of R or other statistical analysis and data visualisation languages / packages.  Ability to communicate complex ideas and messages to a wide range of audiences (both technical and non-technical). Stakeholder management skills to identify and influence key stakeholders and drive projects to a conclusion in the interests of the Branch. Strong understanding of UK long-term protection insurance products and markets.

Person Specification:

Communicating and Influencing

Excellent communication and presentation skills with the ability to convey complex ideas and messages to a wide range of audiences. Strong influencing and negotiation skills with the ability to identify and influence key stakeholders, both internally and externally. Excellent relationship management skills. Active listener with the ability to elicit information from relevant stakeholders.

Problem solving

Solution focused with excellent analytical skills. Ability to break down complex issues and proactively identify and implement solutions. Takes a pragmatic approach to assessing risks and developing solutions. Does not accept the status quo; actively manages processes by challenging and improving them.

Delivery and Accountability

Accountable for individual and team deliveries to support the overall Branch objectives. Creates an environment where challenge is expected and encouraged and holds individuals accountable for same. Efficient and responsive ensuring deadlines are met.

Innovation and Continuous Improvement

Creates and tests out new ideas and improvements that have a significant impact on the business operations or service offering. Identifies new ways of working and encourages ideas from others. Delivers timely and effective feedback to the team on a regular basis. 

Developing Capability and Knowledge Sharing

Willingness to share knowledge and to learn from peers. Collaborative and open working style creating an environment with a focus on knowledge sharing. Acts as a role model and mentor across the business. 

Team Player 

Strong team player with a focus on building a positive team culture based on trust, openness, feedback, and collaboration. Ability to build sustainable, cross-functional relationships. Embraces diversity of thought, ideas, and skills. Engages team, senior leadership, and stakeholders to work together to deliver objectives. Holds themselves and the team accountable for performance and deliverables.

What We Offer 
Atmosphere: You will find an international working environment with short decision channels, an open feedback culture and a sense of community shaped by mutual esteem and a readiness to help. 
Benefits: Structured onboarding, benefits superior to those of the collective agreement as well as modern offers for personal development, health management and work-life balance are just some of our benefits.
Prospects: You contribute your specialist and methodological expertise and we offer you fresh input and the opportunity to further develop your potential – including room to come up with innovative ideas and act on them!

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