Actuarial Consultant

Broadstone; London; On-site; GBP 50,000 - 80,000; Full time

Job summary

Broadstone seeks an Actuarial Consultant for diverse actuarial tasks within the general insurance market. The role focuses on client relationships, actuarial function activities, and model development, providing a rich opportunity to grow in actuarial techniques and client-based projects.

Qualifications

• 2+ years' actuarial experience required.
• Experience in reserving, capital modelling, pricing or risk management.
• Strong technical skills and good communicator.

Responsibilities

• Support the Head of London Markets on project management.
• Communicate directly with clients on technical matters.
• Lead junior team members in developing calculations and reports.

Skills

Communication skills

Attention to detail

Flexible

Curious

Self-motivated

Education

Qualified or nearly qualified actuary

Tools

Python

R

VBA

Igloo

Tyche

ResQ

Psicle

Job description

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The Actuarial Consultant role will include a wide variety of actuarial assignments within the general insurance market. Duties include engaging in client relationships from day one and supporting the growth of the business through client-based assignments, project work, the provision of actuarial function activities and the development of actuarial models.

The General Insurance Actuarial team provides consulting services across the market. Clients will include Personal Lines insurers, Specialist insurers, Lloyds and London Market insurers. All roles will include the opportunity to develop experience in the full range of actuarial techniques, pricing, reserving, capital modelling and risk management.

The list below sets out the tasks/responsibilities involved in the Actuarial Consultant role.

Key Accountabilities

The responsibilities of the actuarial work covered by this position will include, but is not limited to:

• Support the Head of London Markets or Head of Personal Lines on project management and project delivery.
• Take ownership of assigned project deliverables and other responsibilities.
• Communicate directly with clients on technical / actuarial matters to ensure objectives are achieved.
• Support actuarial project work including developing calculations, preparing reports, presentations, coding and model development, dashboard development and various other deliverables.
• Lead more junior members of the team to develop calculations, prepare reports, presentations and other deliverables.
• Participate in and support internal projects including software development, research and intellectual property development.
• Balance multiple projects simultaneously.
• Support the senior members of the team on marketing and new client development activities.
• Support with proposals and responding to Requests For Proposals.
• Contribute to team learning and knowledge sharing activities.
• Potential line management responsibility.

Technical Knowledge and Professional Qualifications

• Qualified or nearly qualified with good exam track record.
• 2+ years’ actuarial experience.
• Technically strong and good communicator.
• Experience working in at least one of the following areas: reserving, capital modelling, pricing, exposure management, reinsurance analysis and risk management.
• Coding experience with either Python, R or VBA beneficial.
• Model development or process development experience using specialist actuarial packages ( Igloo, Tyche, ResQ, Psicle) also beneficial.
• London Market Specific Requirements: Lloyd’s market experience whether via in-house, consultancy, or regulator. Familiar with Lloyd’s guidelines on technical provisions, capital modelling, validation, RIO guidelines relevant to reserving, capital, risk and validation. Working knowledge of key Lloyd’s Core Market Returns is beneficial, especially LCR, SBF, QMR, TPD and SII. Can demonstrate an understanding of the Lloyd’s reporting bases.
• Personal Lines / Specialist Insurers Additional requirements: Can demonstrate an understanding of the Solvency II/UK or IFRS 17 reporting bases. Experience of working within a Solvency II Actuarial Function (preferrable). Experience of working within the MGA market (preferrable).

Key Skills

• Strong communication skills, both oral and written.
• Curious, enjoys intellectual challenges and actively seeks opportunities for growth.
• Attentive to detail and committed to ensuring high quality of work.
• Flexible, adaptable and comfortable with a steep learning curve.
• Open to learning and working on projects outside of the candidates’ previous experience or require the development of new skills.
• Motivated and self-starting, takes ownership of responsibilities.
• Supportive and willing to develop more junior members of the team.
• Seeks out feedback and opportunities to improve.

Overarching Obligations

• Adhere to all relevant laws & regulations, and Broadstone Policies & Procedures.
• Achieve a good standard of ethical behaviour, do the right thing at all times.
• Comply with all relevant professional standards.
• Comply with the FCA’s requirements in relation to the Senior Managers & Certification Regime, Treating Customers Fairly and the new Consumer Duty.