Reserving Actuary

JOB DESCRIPTION

POSITION: Reserving Actuary

LOCATION: London/ Hybrid

Role Summary:

The role supports the Lead Reserving Actuary and their team across all aspects of the Actuarial Function. This includes Bermuda Reinsurance, European insurance company, and group level reporting. The role provides coaching and technical support for the more junior members of the actuarial team.

The role holder, their team and the Actuarial function holder carries out the quarterly reserving processes, portfolio reviews and other ad-hoc deep dive analyses. The role sits within the reserving team responsible for Motor Reinsurance, Property Catastrophe, Casualty and Marine amongst others.

• Analysis of quarterly reserving projections
• Solvency II technical provisions and IFRS17 fulfilment cashflows
• Reserving analysis and input into assessments of business profitability
• Lead or support actuarial input to meetings alongside other members of the actuarial reserving team with product line underwriters and claims personnel to discuss account performance, underwriting changes, latest developments and trends
• Produce quarterly reserving outcomes for reserving committee that provide insight and explaining core drivers and uncertainties.
• Undertake deep dive analysis into range of reserving issues or areas of interest to support overall reserving activity
• Work closely with Finance and Risk functions to ensure financial close numbers fully and correctly capture all relevant actuarial outputs.
• To contribute to the growth, development and sustained profitability

Knowledge and Qualifications:

• University degree in Mathematics or related field
• Nearly/ Newly Qualified Actuary (FIA or equivalent)

Skills and Demonstrated Experience:

• General commercial and financial knowledge
• Experienced user of MS Excel; VBA and Access/SQL skills
• Strong technical skills and relevant market knowledge with good experience of reserving and actuarial valuation techniques
• Strong analytical skills with attention to detail; accurate and numerate
• Investigating ability to understand claim trends, impact of legislative and other drivers.