Actuarial Policy Team, Regulatory Standards Division

Permanent

The Financial Reporting Council (FRC) mission is to serve the public interest by setting high standards of corporate governance, reporting and audit and holding to account those responsible for delivering them. We are the UK Competent Authority for audit.  We also set the UK Corporate Governance and Stewardship Codes as well as UK standards for accounting, auditing and actuarial work, and monitor and take action to promote the quality of corporate reporting and operate independent enforcement arrangements for accountants and actuaries. Further information about our role can be found at www.frc.org.uk.

Regulatory Standards: The FRC’s Regulatory Standards Division is responsible for public and technical policy covering accountancy, audit, actuarial work and corporate governance and stewardship, for which we set regulatory codes and standards and develop guidance to drive high quality work in the public interest. The Division also includes the FRC Lab, which encourages high quality reporting through the development of best practice, and innovation more widely, and all of the FRC’s stakeholder engagement and communications work.

The Roles:

We are seeking a Life Insurance Project Director to join the FRC’s Actuarial Policy Team.

The successful candidates will work with the Director of Actuarial Policy, Senior Project Directors and other Project Directors in the team to deliver the objectives in our annual strategy and plan. This includes

• developing the technical actuarial standards in the UK
• contributing to FRC’s transformation programme in respect of the actuarial regulations
• acting as the focal point for all policy issues on your sector of expertise
• providing actuarial expertise to the wider FRC such as actuarial aspects of audit quality review of insurance companies, enforcement cases, and the oversight of the IFoA.

The FRC is going through a period of significant and sustained change: this is an excellent opportunity to influence actuarial regulations and help shape the actuarial profession.

The People:

The candidates are likely to be Fellow of the IFoA with significant post qualification experience, with some experience of regulation, supervision or research and/or a former practitioner, and are likely to have operated at a senior level in a consulting, in house, management or regulatory role. A strong understanding of what drives high quality actuarial work is key to this role.

The Project Director will also

• possess strategic knowledge of, developments and issues affecting the life insurance sector;
• have externally acknowledged technical expertise in the life insurance sector who can engage credibly with senior actuarial practitioners and other senior stakeholders. Knowledge in finance and investment sector or emerging areas such as data science and climate change desirable.
• possess knowledge of the standards and guidance issued by the IFoA to its members, and of the IFoA’s education, CPD, competence and disciplinary regimes. have strong oral and written communications, including strong presentation skills and experience of speaking to large and challenging audiences
• have strong analytical skills both in assessing issues to include in actuarial standards and in interpretation and synthesis of a wide range of responses to consultation documents
• be able to learn from colleagues in other practice areas, or work with colleagues from other operating units providing specialist input to cross-unit projects
• be able to take ownership and responsibility for timely delivery to high quality of projects
• be able to work collaboratively in a team environment and also to work independently when required.

The roles are based in our Central London Office (flexible arrangements, in particular during Covid 19, will be considered). The post holders should be able to work flexibly to support the team’s activities and also provide cover within the FRC as necessary.

Rewards and benefits

• The FRC offers competitive remuneration packages, including 30 days annual leave plus ability to buy extra leave.
• Generous employer pension contribution of 10%.
• Staff Employee Assistance Programme including confidential counselling and work life services.
• The FRC offers staff the opportunity to save at least 25% on the purchase of a new bike through the Cycle to work scheme.
• The FRC has a strong work/life balance ethos.

The FRC believes that equality of opportunity and diversity is important in the work that we do, and we are strongly committed to being an inclusive employer. Our values of being fair and independent supports this commitment. We're a signatory to the Government's Disability Confident scheme, which means that we guarantee an interview to any disabled candidates entering under the scheme, should they meet the minimum criteria for a role.

Equal opportunities monitoring is an important means of demonstrating and implementing our commitment to promoting equality of opportunity and diversity. Completing our diversity form will assist the FRC to identify any barriers that prevent access to employment and career development for certain groups of people, and to develop solutions, such as action plans, new policies, and practices. The form is completed on a voluntary basis and we strongly encourage all job applicants to complete it.

Closing Deadline 5th August 2022

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