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Chief Actuary/FD

Please Note: The application deadline for this job has now passed.

Job Introduction

Saga is a trusted brand which achieves over 87% recognition from the UK’s over 50s. With our differentiated products and a unique route to market we are able to offer outstanding service and we mirror this with outstanding career possibilities.

…And right now, we are looking for a Chief Actuary/FD within Insurancewhich is at an exciting time in Saga’s history. As a Group, Saga is taking to the seas in our brand new, luxury cruise ships, leading the market with innovative insurance and financial products, and creating thousands of unforgettable memories for our loyal holidaymakers who are at the heart of the Saga brand.

You will be responsible for business partnering the Insurance business’s Underwriting and Data Director / CEO of AICL, regulatory and statutory reporting, reserving, capital management, financial risk management and providing first class support to the Insurance CFO and CEO.

You will bring strong analytical, numerical and excellent stakeholder management skills as well as experience in communicating at Board level.

And in return, you can look forward to all the responsibility and involvement of an integral and highly visible role, providing you with a rewarding and fast-paced career with an excellent benefits package.

If you can enhance the customer experience and you are the enthusiastic, inspirational, committed and supportive leader we are looking for then we want to hear from you!

Role Responsibility

The role has three key objectives:

  1. Chief Actuary for Saga Insurance – IFRS reserving and reporting, Solvency II technical provisions, reporting and assurance, capital management and planning and oversight, investment strategy and performance, risk management and the interpretation and presentation of data. Actuarial function holder to provide independent oversight and reporting on underwriting, pricing and reinsurance.
  2. Finance leader for AICL - The role will hold responsibility for all aspects of company finances, including all financial controls and processes, monthly financial reporting, forecasting, strategic planning and implementation of strategy, financial due diligence and assessment of key suppliers.
  3. Finance Business Partner to Saga Insurance’s Underwriting and Data Director
  • In order to deliver these responsibilities, the role holder must be able to build strong internal and external relationships quickly and have a proactive approach to identifying risks and opportunities which will ultimately drive value added commercial outcomes.
  • IFRS reserving and Solvency2 technical provisions
  • Capital management
  • Investment strategy
  • Statutory & regulatory reporting for AICL legal entity
  • Actuarial function holder
  • Reinsurance strategy & placement
  • Complex financial and actuarial analysis
  • Insurance premium, reserve & credit risk
  • Business performance management
  • Support Saga Insurance underwriting and data strategy
  • Business planning for Saga insurance underwriting and data, and AICL legal entity

The Ideal Candidate

Capability, Knowledge and Experience:

  • Experience of communicating at C-Level
  • Strong analytical and numerical skills are required
  • Must be familiar with Solvency II – all pillars
  • Strong financial reporting and IFRS
  • Excellent stakeholder skills

Education and Qualifications: 

  • FIA
  • Qualified non life actuary with several years of post-qualification experience – preferably in UK personal lines

Personal Characteristics:

Business skills:

  • Communication
  • Conflict management
  • Integrity and independence
  • Judgement
  • Negotiation and influence
  • People
  • Strategy

Knowledge, Awareness & Understanding:

  • Stakeholders
  • External environment
  • Regulation, legislation and tax

Technical Skills:

  • Actuarial expertise
  • Technical methods and modelling
  • Systems and data
  • Balance sheet and profit/surplus emergence
  • Risk and uncertainty
  • Review and validation


Package Description

The standard benefits when you join Saga include:

  • Option to purchase a further 5 days annual leave per year
  • Free private medical insurance after 1 years service
  • Pension
  • AXA Be Supported
  • Apples Nursery (Folkestone only and on a waiting list basis)
  • Free fruit 
  • Give as you earn
  • Free eye tests
  • Honeymoon benefit
  • Sharebuy
  • Salary finance
  • Discounts on Saga holidays and insurance products
  • A range of reductions and offers from leading retailers, travel groups and entertainment companies
  • Long service awards

About the Company

When you join Saga you will see that we are committed to treating all employees fairly and to offering equal opportunities in all aspects of employment and advancement. 

We value diversity not just because it is the right thing to do, but because diverse teams perform better. Creating a culture in which everyone feels welcome and offering equal opportunities in all aspects of employment and advancement is incredibly important to us. Fair consideration is given to applications from all applicants, including those with disabilities. If you need support at any point with your application please let us know as we will be happy to help.

Learn more about the Saga business by watching our Saga plc 2019 AGM film below:

To all recruitment agencies: Saga does not accept agency CVs unless specifically engaged on the role by the HR Recruitment Team. Please do not forward CVs to our recruiters, employees or any other company location. Saga is not responsible for any fees related to unsolicited CVs.  #LI-ED1


Saga Group

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