Overview

Reserving Actuary – Contract

Permanent

Our client is looking to hire a London based Reserving Actuary to join them on a Contract basis.

Ref: 49513

  • Location: London
  • Category: Non-life Actuarial
  • Type: Contract

Overview

Key Duties:

  • Work under general supervision to support the UK actuarial function in all aspects of the reserving process including the evaluation of Solvency II technical provisions
  • Quarterly reviews of reserves in respect of P&C business written across the company’s International Group platforms, including Energy, Marine, Property, Treaty, Accident & Health, Credit, Surety, Professional Indemnity and Liability lines. Work covers:
    • Appropriate application of actuarial loss reserving techniques and expert judgement
    • Timely delivery and communication of results to management, relevant committees and heads of underwriting business units
    • Involvement in drafting formal TAS compliant reports produced by the UK actuarial function
    • Coordinate and review analysts’ work, providing timely performance feedback and training to ensure high professional standards are met at all times
    • Liaise with finance, claims management and business intelligence to resolve processing issues as necessary
    • Co-ordinate with actuarial teams based in the United States to ensure International actuarial input is relevant and timely
    • Identification and implementation of technical and other process enhancements to increase the efficiency of the reserve review process and controls around data quality
    • Ongoing development and enhancement of actuarial methods and diagnostic tools applied in reserving analyses and monitoring of loss trends
    • Maintenance and further development of detailed documentation of reserving assumptions and methodology as well as actuarial procedure documents
    • Support with ad hoc requests from management, regulators and auditors as required, including liaising with the external actuaries to ensure timely provision of the annual Statement of Actuarial Opinion for the syndicate
    • Update and development of key processes, model variables and assumptions used to assess Solvency II technical provisions
    • Timely delivery and communication of Solvency II technical provision output to management
    • Assist other business units regarding regulatory matters related to Solvency II technical provisions as required, including help with completing regulatory submissions and resolving queries from the regulatorGeneral:

      Delivery of Solvency II technical provisions and related regulatory/Lloyd’s returns, including:

    • Possible involvement in preparation for IFRS 17 implementation, including supporting the actuarial technical lead, and coordinating with other stakeholders, in particular Finance and IT, both in the US and the UK
    • Contribute to the growth of intellectual capital within the actuarial department through attendance and participation in professional development initiatives and events as well as sharing of specialized expertise with other members of the team
    • Demonstrate planning in execution of work, so that spreadsheets are intuitive, dynamic and scalable, with appropriate audit trails

 

Other Skills:

  • Strong analytical skills with aptitude for detail and ability to apply advanced problem solving skills
  • Excellent written and verbal communications skills
  • Advanced proficiency and experience using Microsoft Office Package (Excel, Access, PowerPoint, Word), including application of macros

Qualifications required:

  • Bachelor’s degree in Actuarial Science, Mathematics, Statistics or related field
  • Qualified or making good progress towards qualification as a Fellow of the Institute and Faculty of Actuaries (FIA), Fellow of the Casualty Actuarial Society (FCAS) or similar

Experience required:

  • Ideally a minimum of 4 years core reserving experience involving practical application of actuarial methods and statistical techniques used in reserving of London Market P&C lines
  • Commercial awareness and knowledge of industry changes, legal updates and technical developments related to applicable areas of TM HCC’s business to proactively respond to changing business environment
  • Thorough knowledge of the regulatory environment, including specific responsibilities placed on the actuarial function as part of the Solvency II framework and Lloyd’s guidance for the setting of syndicate reserves
  • Advanced proficiency and experience working with ResQ

Consultant

Rebecca Gibson

Director, General Insurance

T: ‭020 3867 9857

Email me

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