Vice President – JPMorgan Life Limited – Actuary
Part time 2.5 days / week
JPMorgan Life Limited (JPMLL) is a registered limited liability life insurance company and is authorised to issue unit-linked policies to both UK defined benefit and UK defined contribution pension schemes. JPMLL is a Prudential Regulatory Authority (PRA) Category 4 Firm within the JPMorgan Asset Management International group and has no other business activities. It is a solo entity for Solvency II purposes. JPMLL’s book of business consists entirely of policies with institutional customers for the provision of investment management on a wholesale basis through the use of unit-linked funds specifically designed to accept money from the trustees of registered pension schemes, or other life insurance companies wishing to add JPMLL funds to the fund range offered to their own pension scheme policyholders. JPMLL does not market or sell any products to retail clients.
Key aspects of the role
Overseeing the service of our outsourced actuarial service provider
Maintaining an open and positive relationship with our Chief Actuary (outsourced) including regular meetings
Leading on the actuarial vendor relationship in all aspects (contractual, financial etc)
Challenging and validating input from the actuarial service provider
Partnering with the Finance department on actuarial and financial matters, in particular Solvency II regulatory reporting and capital adequacy calculations
Providing input, and coordinating the provision of input, into regulatory documents such as the SFCR and ORSA
Ensuring compliance with regulatory requirements, appropriate management of risk and escalation of issues
Supporting the Boards of Directors, Senior Managers, Senior Insurance Managers and Key Function Performers to enable them to perform their duties efficiently and effectively
Oversight of service providers and key operational processes to ensure that clients receive the best possible standards of service in an effective risk and control environment
Inputting into regulatory reports, specifically for JPMorgan Life Limited: ORSA, SFCR and RSR
Documenting governance arrangements for intra-group and external service providers
Defining and identifying risks and controls and documenting them in the RCSA process
Managing or contributing to any projects or initiatives
Ensuring that any regulatory changes, market developments or industry consultations are captured and addressed
Drafting or co-ordinating responses to any requests for information from regulators, auditors, project teams and other parts of the firm
Providing input and advice to Vendor Management on due diligence activity and contractual arrangements for service providers
Qualified actuary - Associate or Fellow of the Institute and Faculty of Actuaries
Understanding of life insurance companies and/or the pensions industry
Awareness of life insurance regulation, including Solvency II
Ability to manage a vendor at a distance
Understanding of financial matters and regulatory reporting requirements
Understanding of governance requirements and regulatory landscape
Ability to contribute effectively to projects and other firm-wide initiatives
Confident communicator at all levels, and able to gain respect of senior management
Good judgement and decision-making
Able to build relationships and bring together resources across the business to work as a team
Able to challenge and influence others
Ability to multi-task and balance priorities
Resilient and calm under pressure
Strong attention to detail
JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase& Co. is an Equal Opportunity Employer.
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