Longevity Risk Actuary

  • 33456
  • Life - Actuarial
  • |
  • England
  • |
  • Mar 20, 2018
Consulting
RESPONSIBILITIES
  • Developing Base Mortality Predictive models for Individual annuitant business to ensure they reflect the specific mortality risk within these markets whilst supporting a competitive price where appropriate.
  • Mortality pricing for other international territories to ensure it reflects the specific mortality risk within these markets whilst supporting a competitive price where appropriate.
  • Interpreting the results of the mortality analysis to develop and refine the models.
  • Development and maintenance of the Socio-Economic Classification profiling systems.
  • Analysis and modelling of base mortality and spouse’s demography assumptions for reporting purposes.
  • Development of appropriate models and tools for the analysis of longevity risk trends and uncertainty. -The business solutions developed will use appropriate statistical methodologies to enhance LRT modelling capabilities.
  • Support mortality data acquisition, research and analysis to enable to further expand into new international annuities.
  • Provide support to PRT teams on mortality related issues for UK & US transactions, including undertaking large scheme mortality investigations.
  • Provide mortality support and development for new initiatives across pricing, reporting and capital as and when required by the business.
  • Stay abreast with, and where appropriate contribute to, external longevity risk developments, ensuring that the longevity assumptions remain appropriate. This includes (but is not limited to) the work of CMI sub-committees.
QUALIFICATIONS
  • Qualified Actuary with longevity experience across pricing and reporting. Alternatively, partially qualified with equivalent experience, commercial understanding and technical capabilities to a qualified Actuary.
  • Understanding of longevity risk products including bulk annuities, retail retirement, longevity swaps etc.
  • Demographic assumption setting experience in a commercial environment with specific knowledge of base and trend mortality and common practices.
  • Analysis and reporting of internal and external mortality data sets and understanding impact on mortality and mortality measures.
  • Practical experience of predictive modelling and the application of statistical methodologies in relation to mortality analysis and an understanding of data mining would be desirable.
  • Ability to work and deliver within governance frameworks and manage stakeholders.
  • Communication - Excellent written, oral and presentation skills to liaise with internal and external stakeholders.
  • Problem solving & Initiative - Demonstration of application of actuarial techniques, principles and methods to solving both routine and unstructured problems. Able to present and implement independently creative solutions to complex problems.
  • Modelling Skills. Advanced Excel skills. Knowledge of SAS or other statistical package with good programming skills to be able to analyze/manipulate data using these packages would be advantageous.
  • Planning & Team work - Ability to plan projects for self or a team and work coherently with peers and contribute to the delivery of data/projects in a timely manner. Motivate and involve others associated with the work team’s performance.