The Head of With Profits strategy plays a key role in ensuring they have an integrated approach to managing their With Profits Fund, working in close collaboration with the propositions, pricing, With Profits Actuary (WPA), Finance and Change teams.
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Location: London or Edinburgh Category: Life/Risk Type: Permanent Key Duties (including but not limited to): Lead on developing a clear medium to long-term integrated With Profits strategy that is aligned to the Company's strategy.
All initiatives that impact on or grow the With Profits fund should be aligned to the strategy with clear change/development plans and prioritisation to support execution.
Ensure the strategy pays due regard to customers, processes, and people delivering good customer outcomes and meeting the requirements of the WPF.
Ensure all costs – change and run – charged to the WPF are appropriate.
Work across the Company's various propositions teams, pricing, and WPA teams to develop and articulate the principles for the risk-sharing model between shareholders and WPF for new products.
It is expected that the principles will iterate as new products are developed.
Working with the Directors of Propositions, ensure all new product development is in line with the agreed WP Strategy and requirements, including all relevant rules and regulations and the Finance and WPA frameworks for managing the Fund.
Minimum Requirements: Qualified actuary.
Experience of with profits products and with profits rules and regulations is essential.
You will have a good understanding of the UK life insurance industry with both technical and commercial knowledge.
Knowledge and experience of international life insurance markets beneficial but not essential.
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