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General Insurance Actuarynew

Bank of England (Bank of England) · Regulator / Central Bank

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Closes in 10 hours — 9 Aug 2026, 22:59 UTC

General Insurance Actuary

Location: Leeds 

We currently have other actuarial opportunities across our team - so if this role isn't the right fit for you, we'd encourage you to explore what else is available:

About DGIRD

Data and General Insurance Risk Specialists (DGIRD) sits within the Insurance Supervision Directorate, which supervises over 500 Insurance firms. DGIRD brings together actuarial, risk specialist and data analytics expertise to support the PRA's supervision of the UK insurance sector. DGIRD combines technical expertise across catastrophe risk, exposure management, climate risk, cyber underwriting risk, capital, reserving, reinsurance and underwriting with growing data and analytics capabilities. Working closely with supervisors, policy colleagues and specialists from across the Bank, the division provides technical advice, delivers thematic reviews, supports firm-specific supervision, undertakes research and horizon-scanning activities, and contributes to major cross-industry initiatives. The division aims to operate as one integrated division, combining technical excellence, supervisory insight and data-driven analysis to support the PRA’s objectives and financial stability.

 

About the Role

Actuaries in the Data and General Insurance Risk Specialists (DGIRD) department play a key role in assessing the risks that insurance firms and their activities pose to the PRA’s statutory objectives. Working closely with Supervision, Policy and other areas of the Bank, the role provides technical expertise, judgement and thought leadership to support supervisory decisions, regulatory approvals, technical reviews, and thematic work. 

The role combines firm-facing supervision with technical network or project responsibilities. The balance between these activities will vary over time according to business priorities and individual development objectives. 

The jobholder’s analysis, recommendations and technical judgement directly influence supervisory interventions, regulatory decisions and, ultimately, the safety and soundness of PRA-regulated insurers. 

This role offers the opportunity to combine technical expertise, supervisory judgement and strategic influence to support the PRA's objectives and contribute to the resilience and soundness of the UK insurance sector. 

 

Key Responsibilities

  • Work closely with others in DGIRD and across supervision to maintain an understanding of firms’ business models, key risks and lines of business. 
  • Provide actuarial input into the technical risks facing individual general insurance firms. 
  • Assess emerging risks and recommend appropriate supervisory responses. 
  • Build and maintain effective relationships with stakeholders within firms, including chief actuaries and CROs. 
  • Support the development of technical standards, thematic reviews and research initiatives, working with colleagues in Policy and Legal directorates. 
  • Contribute to the development and dissemination of technical expertise across the wider Insurance Directorate. 
  • Build and manage  relationships across the PRA and wider Bank. 
  • Provide coaching and on-the-job support to team members.
  • Represent the PRA credibly in external meetings, industry forums and engagements.
  • Apply professional standards, technical assurance requirements and appropriate audit trails to all work.

 

Minimum Criteria

  • Technical actuarial knowledge and experience broadly equivalent to that of a qualified actuary.
  • Strong technical expertise in one or more insurance subject areas, including risk management, underwriting, capital modelling, reserving, reinsurance or exposure management.
  • Commercial awareness and understanding of general insurance market dynamics.
  • Ability to analyse complex information, form sound judgements and communicate clear, evidence-based recommendations.

Essential Criteria

  • Excellent communication skills, with the ability to explain complex technical issues clearly and accessibly.
  • Strong stakeholder management and relationship-building skills.
  • Ability to manage competing priorities and deliver across multiple projects.

Desirable Criteria

  • Understanding of relevant regulatory frameworks and supervisory approaches, including Solvency UK.
  • Breadth of experience across roles, organisations or areas of the insurance sector.
  • Experience coaching or developing colleagues.
  • Fellowship of the Institute and Faculty of Actuaries or equivalent organisation is desirable, but not essential if the individual has sufficient technical expertise. 
 
Our Approach to Inclusion
The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve. 

 
At the Bank of England, we want all colleagues to feel valued and respected, so we're working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it’s by drawing on different perspectives and experiences that we’ll continue to make the best decisions for the public.

 
We welcome applications from individuals who work flexibly, including job shares and part time working patterns. We've also partnered with external organisations to support us in making adjustments for candidates and employees in the recruitment process where they're needed.

 
For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month.  Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.

 
Finally, we're proud to be a member of the Disability Confident Scheme. If you wish to apply under this scheme, you should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.

 
Salary and Benefits Information
We encourage flexible working, part time working and job share arrangements.  Part time salary and benefits will be on a pro-rated basis as appropriate.

 
The salary ranges from £57,440 - £64,620. In addition, we also offer a comprehensive benefits package as detailed below:
  • Currently a non-contributory, career average pension giving you a guaranteed retirement benefit of 1/80th of your annual salary for every year worked. There is the option to increase your pension (to 1/65th) or decrease (to 1/105th) in exchange for salary through our flexible benefits programme each year.  The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time.
  • A discretionary performance award based on a current award pool.
  • An 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.   
  • 26 days’ annual leave with option to buy up to 12 additional days through flexible benefits. 
  • Private medical insurance and income protection.
National Security Vetting Process
Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy.  Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank's Privacy Notice.

 

The Bank of England welcomes applications from all candidates, but as a UK Visas and Immigration (UKVI) approved sponsor, we have a responsibility to comply with the Immigration Rules and guidance.  As such, our ability to employ individuals who require sponsorship for immigration purposes is limited.  The Bank cannot guarantee that you and / or the role you are applying for will be eligible for sponsorship and that any application made to UKVI will be successful.  Eligibility will therefore be considered on a case by case basis.


 
The Application Process
Important: Please ensure that you complete the ‘work history’ section and answer ALL the application questions fully. All candidate applications are anonymised to ensure that our hiring managers will not be able to see your personal information, including your CV, when reviewing your application details at the screening stage. It’s therefore really important that you fill out the work history and application form questions, as your answers will form a critical part of the initial selection process.

 
The assessment process will comprise of two interview stages.  

 
This role closes on 9th August.

 
Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.
We are the UK's central bank - and we are a bank like no other; known by our peers for our world-leading thinking on policy and strategy.
 
Our mission is to promote the good of the people of the UK by maintaining monetary and financial stability. We seek to keep prices stable and people's money safe. We know our work matters to people, to families, up and down the UK. We are driven by curiosity and the desire to do important, challenging work. 
 
It takes a great team to run the Bank of England. We rely on each other to play our part. We benefit from a collaborative culture and long-established flexible ways of working, supporting our colleagues balance their work and personal lives. We strive to be a place where people feel they belong and have equal access to opportunities, because different perspectives helps us make the best decisions for the public.
 
There's much to gain from working with us - from career defining work at the heart of the UK economy, being part of a fantastic team, and a rewarding compensation package. 
 
Join us and find a bank like no other. Together, we can make a difference.

The Bank of England will use and protect the information you provide when you apply for a role with us, in line with our obligations under data protection law.  This is so we can assess your suitability for the role and administer your application. If you’re successful we’ll use it to offer you a position and onboard you to join the Bank.

If you would like more details about how your information will be used and your information rights, please visit our recruitment privacy notice 

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