Actuarial Analyst

Howden Group Holdings; London; On-site; GBP 30,000 - 45,000; Full time

Job summary

A leading company in the insurance sector is seeking an Actuarial Support professional to assist in providing in-house actuarial services. The role involves preparing data for analyses, updating models, and contributing to profitability reviews. Ideal candidates will have a strong mathematical background and a commitment to professional development in actuarial science.

Qualifications

• Basic technical knowledge of the general insurance market.
• Basic knowledge of actuarial concepts related to reserving and pricing.

Responsibilities

• Prepare data for actuarial analyses ensuring consistency and reasonableness.
• Update quarterly actuarial projection models.
• Assist in the calculation of Profit Commission figures.

Skills

Highly Numerate

Attention to Detail

Problem Solver

Computer Literate - Excel, VBA

Able to Explain Technical Ideas

Self-Initiative

Knowledge of Actuarial Software

Education

First or 2.1 Degree in Mathematics or Science

A Level Maths at Grade A

Tools

RESQ

@Risk

Job description

Who are we?

Howden is a collective – a group of talented and passionate people all around the world. Together, we have pushed the boundaries of insurance. We are united by a shared passion and no-limits mindset, and our strength lies in our ability to collaborate as a powerful international team comprised of 18,000 employees spanning over 100 countries.

People join Howden for many different reasons, but they stay for the same one: our culture. It’s what sets us apart, and the reason our employees have been turning down headhunters for years. Whatever your priorities – work / life balance, career progression, sustainability, volunteering – you’ll find like-minded people driving change at Howden.

Role Definition

To Support the Actuarial Team in providing in-house actuarial services, including involvement in:

• Quarterly “reserve” process – assessing profitability of business lines and projecting Profit Commission receipts.

• Quarterly Underwriting Profitability Review process which reviews areas of underwriting concern and the effectiveness of corrective actions.

• Review of individual lines and investigation of pricing strategies.

• Development of MI and rate monitoring.

• Discussions with carriers - reviewing past experience, current products and future opportunities.

• Involvement in business planning, providing independent scrutiny and challenge.

Key Responsibilities / Accountabilities

• Prepare data for actuarial analyses; ensuring data is consistent, reconciled and checked for reasonableness.

• Update quarterly actuarial projection models.

• Assist in the selection of appropriate ultimate claims.

• Assist in the calculation of the Profit Commission figures.

• Maintain documentation of actuarial processes.

• Deal with data queries from carriers’ actuaries.

• Attend internal and external actuarial meetings.

• Accuracy of work – analyses to be updated accurately and reconciled, and documented such that another actuary could follow work and assumptions.

• Reliability – assigned tasks to be completed efficiently, within agreed time scales.

• Development of actuarial and insurance knowledge – increased technical skills and business knowledge will be evidenced by understanding and applying appropriate actuarial methodologies based on characteristics of different insurance products and markets. Attendance at LMSG/SIAS events and a good exam pass rate is expected.

Skills and abilities needed to perform role

• Highly Numerate.

• Carries out analyses in a thorough manner, paying attention to details.

• Problem solver.

• Computer literate – Excel, VBA.

• Able to explain technical ideas to non-technicians.

• Able to work on own initiative.

• Knowledge of actuarial software eg RESQ, @Risk.

Knowledge and Experience

• Basic technical knowledge of the general insurance market.

• Basic knowledge of actuarial concepts as they relate to GI especially reserving and pricing.

Compliance & Regulatory Responsibilities

• To remain compliant with FCA requirements at all times.

• To obtain appropriate approvals to ensure compliance with company policy, procedures and regulatory requirements/rules, with regards to data protection, money laundering etc.

• To share ideas, best practice and other information within the team.

• Ensure that own performance, HR and T&C records are up to date and meet the Company’s requirements.

• Maintain accurate records and deal with correspondence appropriately.

Professional Qualifications

• First or 2.1 Degree in Mathematics or Science

• A level Maths at grade A

• Institute and Faculty of Actuaries – enthusiasm and commitment to take and pass the IFoA exams, participation in student events eg SIAS lectures to gain wider understanding of actuarial methods and business awareness.

What do we offer in return?

A career that you define. At Howden, we value diversity – there is no one Howden type. Instead, we’re looking for individuals who share the same values as us:

• Our successes have all come from someone brave enough to try something new

• We support each other in the small everyday moments and the bigger challenges

• We are determined to make a positive difference at work and beyond

Reasonable adjustments

We're committed to providing reasonable accommodations at Howden to ensure that our positions align well with your needs. Besides the usual adjustments such as software, IT, and office setups, we can also accommodate other changes such as flexible hours* or hybrid working*.

If you're excited by this role but have some doubts about whether it’s the right fit for you, send us your application – if your profile fits the role’s criteria, we will be in touch to assist in helping to get you set up with any reasonable adjustments you may require.

*Not all positions can accommodate changes to working hours or locations. Reach out to your Recruitment Partner if you want to know more.

Permanent