End Date
Sunday 14 September 2025Salary Range
£0 - £0We support flexible working – click here for more information on flexible working options
Flexible Working Options
Job Description Summary
We are looking for an Actuarial Data Analyst to join our Scottish Widows Europe team. More information below!Job Description
About Scottish Widows Europe
Scottish Widows Europe (“SWE”), a subsidiary of Scottish Widows L.P., was established in Luxembourg to ensure continuity of servicing for its existing EU business after the UK’s exit from the EU, and is authorized to conduct life insurance business in Europe.
The portfolio of SWE is largely represented by with-profit policies (but also includes unit-linked policies), originally sold through the Clerical Medical Brand. The portfolio has c.€2 billion assets, with approximately 50,000 policyholders. Since March 2019, the business has been run from Luxembourg. SWE relies on outsourcers to provide policyholder service and administration.
SWE is part of Scottish Widows, a 100% subsidiary of Lloyds Banking Group (“LBG”) and a strong life and pension company in the UK. Its product range includes life assurance, pensions, investments and savings. The company has been providing financial services to the UK market since 1815. The company sells products through independent financial advisers, direct to customers and through LBG bank branches. Scottish Widows employs around 3,000 people.
LBG is a leading UK based financial services group providing a wide range of banking and financial services, passionate about personal and commercial customers. The main business activities are retail, commercial and corporate banking, general insurance, and life, pensions and investment provision. Services are offered through well-recognized brands including Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows, and a range of distribution channels.
About the Role:
We have an outstanding opportunity for you to join SWE, a diverse and inclusive team based in Luxembourg, and to work in an international and informal environment.
As an SWE Actuarial Data Analyst, you’ll be part the Luxembourg SWE Operations Team, and play a key role in ensuring that policies are managed in line with the policy provisions, policyholders’ expectations and regulatory requirements. Reporting to the Change Manager, you'll be providing valuable actuarial input for the various Rectification Projects.
Key Accountabilities:
Collaborate with the outsourced customer services and change delivery team to determe remediation approach, and treatment for non-standard cases.
Ensure Consumer Duty, cost implications and practical constraints are taken into account when formulating solutions.
Build, perform and check remediation calculations
Handle project and policy level queries relating to calculations
Write/review project documentation (e.g. calculation specs, audit trail).
About you
Experience in Actuarial work
Excellent command of English, both written and spoken
Experience in supporting project changes using Agile methodologies (e.g. Scrum, Kanban) is considered a strong asset
German and/or Italian are a strong asset for understanding client documentation
Strong Excel skills are needed while modelling skills such as VBA/Access/Python/SQL are a valuable skill for the role
Strong technical ability in analysing problems, determining solutions and specifying calculations
Effective communication and stakeholder management skills
Knowledge of life insurance, pension or investment products as well as knowledge of UK specific insurance products are a strong asset
Ability to work under pressure and meet tight deadlines, with a strong commitment to going the extra mile to ensure timely and high-quality outcomes
We're dedicated to giving you opportunities and support to develop you both expertly and personally as well as to optimise and increase your potential.
In return, you would get a package that includes:
A discretionary performance related bonus
Cash allowance to reflect lunch vouchers and private medical contributions
Pension scheme
Annual and special leave according to the collective labour agreement of the insurance sector
Ready to Grow with Purpose? Apply Today!
At Lloyds Banking Group, we're driven by a clear purpose; to help Britain prosper. Across the Group, our colleagues are focused on making a difference to customers, businesses and communities. With us you'll have a key role to play in shaping the financial services of the future, whilst the scale and reach of our Group means you'll have many opportunities to learn, grow and develop.
We keep your data safe. So, we'll only ever ask you to provide confidential or sensitive information once you have formally been invited along to an interview or accepted a verbal offer to join us which is when we run our background checks. We'll always explain what we need and why, with any request coming from a trusted Lloyds Banking Group person.
We're focused on creating a values-led culture and are committed to building a workforce which reflects the diversity of the customers and communities we serve. Together we’re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.
