Actuary (Assurance)

Just Group PLC
London (Central), London (Greater), Flexible
Competitive + Bonus & Benefits
Closing date
20 Dec 2021

Job Details

Our Actuarial team are hiring and we’re now recruiting for an Assurance Actuary to join our Group Risk function on a Permanent basis from our London office.

As a Actuary in the Group Risk team you’ll report to our Head of Model Validation and support the Chief Actuary in fulfilling regulatory responsibility for the Actuarial Function (SIMF20) and provide Second Line review and challenge so that users of actuarial information can have confidence in its accuracy and reliability.

You’ll prepare validation reports related to technical provisions and the internal model and provide support to the actuarial function report(s) to demonstrate the company’s ongoing compliance with Solvency II requirements.

Moreover you will contribute to the effective implementation of risk management across business actuarial teams and play a lead role in supporting the Group Chief Actuary in delivery of the SIMF20 role and team plan.

This role will suit a qualified actuary or senior student with a strong life insurance background and previous experience within an internal model or validation team. Exposure to using software such as MATLAB/R/Python and statistical knowledge of validation tests would be beneficial. 

You will

Have significant involvement in the validation of the internal model by:

  • Developing validation tools to ensure the internal model meets the necessary Solvency 2 standards
  • Producing models to replicate or sensitivity test using MATLAB/R/Python
  • Producing validation reports on components of the internal model
  • Reviewing of regulatory submission to the PRA related to the model

Gain exposure to the wider areas of work performed in the Chief Actuary team, such as:

  • Monitor the sufficiency of premiums and the adequacy of pricing frameworks, pricing models and pricing controls
  • Review of reinsurance contracts and reporting on the adequacy of reinsurance arrangements
  • Review and provide validation opinions on the appropriateness of demographic, expense and other technical provision assumptions
  • Validate the technical provisions within Solvency 2 regulatory reporting, including the matching adjustment and transitional measures.
  • Provide the audit committee with assurance on the technical provisions related to IFRS reporting.
  • Recommend improvements to data governance and highlight potential impacts on technical provisions from data deficiencies
  • Actively engage in allocated business projects to communicate and manage key risks as appropriate to the Chief Actuary
  • Produce validation reports on components of the internal model
  • Contribute to the effective implementation of risk management across business actuarial teams


  • Qualified Actuary or senior student
  • Previous experience in a number of actuarial roles including valuation, capital management, internal model, ALM, experience monitoring
  • Demonstrated technical expertise in at least two different areas of actuarial work
  • Ability to apply risk management techniques to quantify and manage financial risks
  • Experience of relevant modelling software such as MATLAB, Python or R
  • Strong technical skills and knowledge of Solvency 2
  • Ability to practically apply good risk management to distinguish material errors and issues from trivial issues

Working for us, you get your Just Rewards…

  • Such as a Competitive Salary, Pension Scheme and Life Assurance
  • Along with 25 Days Annual Leave plus an Additional Day on us for your Birthday
  • Private Medical Cover and Income Protection, just in case
  • A Bonus Scheme that takes a balanced approach and looks at both `in role performance’ but also `the behaviours and attitudes you exhibit at work’
  • FREE access to the Headspace App, a 24/7 Employee Assistance Helpline and Trained Physical & Mental Health First Aiders (On-Site)
  • Plus we have a variety of Employee Funded Benefits available to our Employees via our Online Benefits Portal


We’re a new kind of Retirement Company. But we have decades of experience helping people to prepare for retirement and protect their income in later life. Formed in 2016 we combine the strengths of two leading retirement providers, each with their own expertise: the Partnership Assurance Group and the Just Retirement Group. Between us, we’ve already helped over a quarter of a million people get more from later life, and together, we’re ready to help even more.

We’re difference makers and we’re committed to helping everyone achieve a fair, secure, and fulfilling retirement, so when you join us, you’re not joining just another financial services company.  You’re joining a company on a mission.

We create possibilities.  Our people have the opportunity to make an impact in their career while making a difference to the lives of those around us.  We work together as a team and are passionate about what we do.  And we know how important our people are to making this mission happen. That’s why we aim to provide an inspirational and supportive place to work, whatever your role. 

We reward people who make a difference. Because we care about our people and their wellbeing, we’re committed to ensuring that we all feel personally supported and professionally inspired at every stage.  Everyone has access to our wellbeing programme, professional qualifications, and specialist training.

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