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Reserving Actuary

  • Location:

    England

  • Sector:

    Non-life

  • Job type:

    Temporary

  • Salary:

    Negotiable

  • Contact:

    Chloe Hesketh

  • Contact email:

    Chloe.Hesketh@oliverjames.com

  • Job ref:

    JOB-082022-178432_1661439513

  • Published:

    etwa ein Monat her

  • Duration:

    6

  • Expiry date:

    2022-09-24

  • Startdate:

    ASAP

Reserving Actuary

Reporting into: Head of Reserving

  • Perform (as required) the quarterly reserving and trust fund valuations for Specialty Risks, Cyber Risks, Digital Risks, Property Risks and MAP Risks classes of business
  • Maintain evidence of valuation assumptions
  • Peer review colleagues' work to provide quality assurance
  • Contribute to reporting the results of actuarial valuations and analyses to the relevant stakeholders and committees
  • Calculate, review and communicate reserve uncertainty/ranges and ensure the methodology and measures used remain robust
  • Perform and review (as required) the quarterly technical provisions valuations, validations and reporting requirements, adhering to the required standards and ensuring technical provisions deliverables are met in a timely manner to a high standard
  • Liaise with actuarial colleagues, Finance, underwriting teams and claims managers to forecast ULRs for financial planning and reporting
  • Work with the Finance, Data Management and Ceded Reinsurance teams to produce and reconcile the data for the valuation processes
  • Contribute to the maintenance of documentation with the required frequency, adhering to the review requirements and obtaining the appropriate sign-offs
  • Support the work of external actuaries as required
  • Assist in other projects undertaken by the actuarial team e.g. M&A and business planning analyses
  • Build and maintain constructive working arrangements with those groups identified as being key to your role
  • Operate as an effective team member by supporting colleagues and contributing in the delivery and achievement of overall team and business objectives
  • Provide support and mentoring to the assistant reserving actuaries, with potential for line management responsibilities
  • Become a technical expert and trusted advisor for management on reserving and related matters
  • Keep abreast of industry best practice, new initiatives and changes in regulatory requirements
  • Identify opportunities and deliver improvements in the valuation processes and methodologies
  • Undertake applicable professional, technical and career development training (delivered internally and externally)

General

It is important that within all your interactions both internally and externally you adhere to the core values - Being Bold, Striving for Better, and Doing the Right Thing - as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect all employees to:

  • Comply with procedures, policies and regulations including the code of conduct.
  • Display business ethics that uphold the interests of all our customers.
  • Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.

Education and Qualifications

  • University degree in Mathematics or related field
  • Actuarial qualification desirable

Skills and Abilities

  • General commercial and financial knowledge
  • Experience with ResQ reserving software preferable
  • Competent user of MS Excel; VBA, Access, SQL, SAS and R skills desirable
  • Strong analytical skills with attention to detail; accurate and numerate
  • Able to communicate effectively both verbally and in writing
  • Team worker as well as able to work on own initiative
  • Ability to manage time, meet deadlines and prioritise

Knowledge and Experience

  • Proven reserving experience; Lloyd's market knowledge desirable
  • Good knowledge of technical provisions for Solvency II preferred
  • Firm grasp of actuarial valuation techniques, including those used within pricing and capital modelling
  • Understanding of reinsurance and its impact on reserving

Aptitude and Disposition

  • Outcome focused, self-motivated, flexible and enthusiastic
  • Professional approach to successfully interact with team members, internal and external stakeholders

Competencies

  • Achievement and solution focused
  • Analytical
  • Information seeking
  • Stakeholder focus
  • Using initiative
  • Having integrity
  • Taking responsibility
  • Being reliable
  • Attention to detail

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