Associate Director - ALM

Job Title: Life Consulting Senior Manager (ALM)

Looking for the next step in your life actuarial career but wanting something different to the usual roles? Come and join us build the best life actuarial consulting business.

An exciting role reporting to the EMEA and Bermuda Life Consulting Leadership working to shape the future of life actuarial consulting in EMEA. This role will sit within [Employer hidden — view at passion-project.co.uk]’s Life Solutions Team, which is a key part of [Employer hidden]’s Strategy and Technology group (“STG”) and has ambitious plans for growth in the next 3 – 5 years. The successful applicant will also be a part of STG, a global team of over 500 specialists working across Strategy consulting, P&C technology, P&C consulting, Reinsurance, Life technology and will be provided with a unique opportunity to lead and deliver on asset – liability management (“ALM”) advisory projects for Life insurers to help our clients thrive in today’s competitive global market.

The role will be UK based but is hybrid in nature. It provides flexibility to work both virtually and from our London office. There will also be some opportunity to work in other locations and with clients at their locations as and when

[Employer hidden] is in the business of better decisions

At [Employer hidden], we shape decisions for the better to protect and enrich the lives of people around the world.

As an organization, we are united through trust as one inclusive team and we are passionate about helping our colleagues and clients succeed.

What the day will look like

This is a senior actuarial role within [Employer hidden]’s Life Solutions team, focused on life insurance ALM, investment‑risk interaction, and balance‑sheet optimisation projects. You will advise clients across the UK life insurance market — including annuity writers, with‑profits providers and unit‑linked insurers— on the design, operation, governance and optimisation of ALM frameworks. The scope of your services may also extend to other global life insurance markets in which [Employer hidden] operates for example Bermuda. You will have a “once in a career opportunity” to help develop [Employer hidden]’s Life Actuarial consulting ALM proposition. It is expected that a typical day will involve:

• leading and / or supporting the development, enhancement and review of ALM frameworks for UK life insurers, including alignment of assets to liability profiles under different product types
• assessing ALM effectiveness under various market condition life insurer risk e.g. interest‑rate, inflation, credit‑risk etc.
• advising on investment strategy from an actuarial perspective, including best-practice approaches to matching adjustment (“MA”) and strategic asset allocation (“SAA”)
• analysing the impact of new assets, asset classes, credit quality changes, securitised assets and private markets on ALM and MA performance
• advising clients on liquidity management, including collateral frameworks, stress‑testing, and liquidity coverage assessments
• providing expert guidance on PRA expectations relating to matching adjustment, risk‑adjusted returns, illiquid assets, cash‑flow matching, MA eligibility, MA attestation requirements and MA compliance processes
• supporting clients with ALM‑related elements of Solvency UK reporting, Funded Re transactions, ORSA, IFRS 17, risk appetites and stress & scenario testing
• reviewing governance, controls and documentation for ALM processes
• developing and supporting other Life actuarial consulting propositions through identifying cross selling opportunities
• developing technology solutions to solve client problems
• developing your internal network at [Employer hidden]; and
• being agile and flexible to ensure that the team is fully supported.

Skills and experience that will lead to success

• Proven senior manager level delivery track record in the UK Insurance industry and comfortable presenting to senior leadership and boards
• Strong understanding of ALM frameworks and asset – liability interactions with life insurers. Knowledge of Bermudan market is preferable but not essential
• Strong understanding of MA application requirements, SAA processes, familiarity with credit risk concepts, including internal rating methodologies.
• Strong technical expertise acquired in an (re)insurance company / BPA provider / Actuarial consultancy but willing to adapt to a fast-paced consulting environment and capability to generate revenue
• Proven actuarial technical expertise — acts as a thought leader within the Life Consulting team, coaching other members and setting quality standards
• High performing self-motivated team player that both leads and works collaboratively and is agile & willing to participate in other projects within the team
• Ability to work under pressure, takes initiative, proactive, shows resolve and is agile
• Ability to sponsor/shape ALM related modelling, automation and analytics (e.g., Python/R/SQL/Alteryx/Power BI)

How we support our colleagues

In addition to our comprehensive benefits package, we encourage an inclusive workforce. Plus, our agile environment allows you to manage your wellbeing and work/life balance, ensuring you can be your best self at [Employer hidden]. Furthermore, all colleagues enjoy two “Global Wellbeing Days” each year, encouraging you to take time to focus on yourself. We offer a variety of working style solutions for our colleagues as well.

Our continuous learning culture inspires and equips you to learn, share and grow, helping you achieve your fullest potential. As a result, at [Employer hidden], you are more connected, more relevant, and more valued.

[Employer hidden] values an innovative and inclusive workplace where all colleagues feel empowered to be their authentic selves. [Employer hidden] is proud to be an equal opportunity workplace.

[Employer hidden] provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, veteran, marital, domestic partner status, or other legally protected status.

We welcome applications from all and provide individuals with disabilities with reasonable adjustments to participate in the job application, interview process and to perform essential job functions once onboard. If you would like to learn more about the reasonable accommodations we provide, email [contact hidden].

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