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Syndicate Actuary

  • Location:

    England

  • Sector:

    Non-life

  • Job type:

    Temporary

  • Salary:

    Negotiable

  • Contact:

    Chloe Hesketh

  • Contact email:

    Chloe.Hesketh@oliverjames.com

  • Job ref:

    JOB-072022-175526_1658854594

  • Published:

    24 Tage her

  • Duration:

    6 Months

  • Expiry date:

    2022-08-25

  • Startdate:

    Flexible

The role

The role is for a temporary contract position providing additional experienced support to a key area of our team focused on Syndicate reporting, which has a team of four including this role.

The role works closely with the reserving actuaries responsible for the core projections and has key business partnering aspects with the Syndicate Finance team and relevant business units in respect of underwriting, claims and pricing actuaries.

You will be working as part of the team responsible for consolidating the results of the quarterly cycle of reserve assessment in order to inform the reserving committee of business performance; satisfy regulatory and statutory requirements and calculate the Solvency II Technical Projections. It is expected you will take responsibility for leading on individual deliverables.

In addition you will be involved in other work which for example may include working on the Actuarial Function Reports or working on reports for third parties in respect of the performance of aspects of the account.

We are currently part way through embedding a transformation project that will enhance the data, tools, processes, reporting,  accuracy, controls and governance of the reserving analysis and this role is expected to play a part in this.

The role gives a rare perspective across all three syndicates and key involvement in Lloyds interactions . For clarity the actuarial area work with the Syndicate Finance team to provide them with data for them to populate the Lloyds returns which are then reviewed where relevant by the actuaries.

 

About you

  • Technical experience – strong technical experience of reserve methods and business performance analysis across typical syndicate lines of business. Experience of Lloyds.
  • Relationship builder – this role requires the development of strong relationships with key stakeholders; you need to be agile and flexible in your communication and able to build such relationships quickly and develop your profile in the business as a business partner.
  • Commercial mindset – this role requires awareness and knowledge of industry changes, legal updates and technical developments related to applicable areas of  business to proactively respond to a changing business environment. Be able to take a commercial perspective and communicate effectively with underwriters and finance colleagues  on this aspect.
  • Regulatory knowledge – a thorough knowledge of the regulatory environment.
  • Analytical - strong analytical skills with aptitude for detail and ability to apply advanced problem solving skills.  
  • Results driven - a deliverable driven mindset with energy and tenacity to succeed in a very fast paced environment.
  • Communication - Confident communicator with an ability to communicate technical terms to a wider audience.
  • Mentor – Act as a mentor to junior team members to aid their development as reserving actuaries.

 

Responsibilities

  • Business partnering with key stakeholders across the business, particularly finance, providing additional insight into the quarterly reserving results.
  • Delivery of quarterly review of Solvency II technical provisions.
    - Applying appropriate reserving techniques and expert judgment, combined with articulating and documenting key judgments to a wide range of stakeholders.
    - Timely delivery and communication of results to management, relevant committees and heads of underwriting business units.
    - Ensure governance and professional standards are met.
  • Working with Syndicate Finance to prepare and review reports for submission to Lloyd’s on a quarterly basis. Strong focus expected on ensuring the results are accurate and commentary can be understood in context of the outcomes of the quarterly reserving exercise.
  • Lead on ad hoc requests from management, regulators and auditors as required, including liaising with the external actuaries (e.g. Auditors and/or SAO providers) and reporting on external reinsurance agreements to relevant third parties.
  • Manage and review junior analysts’ work, providing timely performance feedback and training to ensure high professional standards are met at all times.
  • Proactively contribute to the design and implementation of enhancements to existing processes and the creation of new processes to enable faster delivery of high quality outputs and to enable the reserving team to add insight to reported outputs and business decision making.
  • 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.

Qualifications & Experience

  • Minimum, 2:1 degree
  • Qualified Actuary with at least 2-5 years post qualification experience
  • At least 5 years of general insurance experience with in particular very strong reserving experience
  • Management experience of at least 1-2 direct reports
  • Demonstrable process improvement experience
  • Experience of relevant software tools such as RESQ, Tableau, Tyche or similar applications

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