Actuarial Director - Reserving

Starr Underwriting; London; On-site; GBP 80,000 - 120,000; Full time

Job summary

An established industry player is seeking an Actuarial Director to lead their actuarial strategies and ensure financial stability. This pivotal role involves overseeing risk assessment, enhancing insurance products, and collaborating with executives to align underwriting activities with strategic goals. The ideal candidate will possess strong leadership skills and a deep understanding of the insurance market, particularly in the UK and Bermuda. Join a forward-thinking company dedicated to innovation and excellence in the insurance sector, and help shape the future of their actuarial practices.

Qualifications

• Proven experience in risk assessment and financial modeling.
• Strong leadership skills with a focus on team management.

Responsibilities

• Develop strategies for risk assessment and management.
• Communicate actuarial findings to senior management and stakeholders.
• Manage the actuarial team and ensure compliance with regulations.

Skills

Risk Assessment

Financial Modeling

Actuarial Reserving

Insurance Product Development

Regulatory Compliance

Team Management

Data-Driven Decision Making

Education

Actuarial Science Degree

Professional Actuary Certification

Job description

Position Summary:

The Actuarial Director is responsible for directing the actuarial strategy, policies, and processes to deliver profitable growth. They oversee the design and implementation of effective risk assessment and financial modeling strategies, ensuring the company's financial stability by analyzing and forecasting potential risks, liabilities, and financial outcomes. The role involves developing and enhancing insurance products, pricing models, and risk management standards, and collaborating with executives to align underwriting activities with Ryan Specialty's strategic and financial goals.

Location:

London - UK

What will your job entail?

Job Responsibilities:

1. Develop and implement strategies for risk assessment and management, evaluating the potential impact of various risk factors on the company's financial position.
2. Translate the strategic vision of the executives into actionable long-term and short-term plans for the insurance business, ensuring alignment across teams and functions.
3. Communicate actuarial findings and recommendations to senior management, stakeholders, and regulatory authorities, presenting complex concepts clearly.
4. Lead the preparation and review of financial and statutory reports, ensuring compliance with regulatory requirements and accounting standards.
5. Oversee the actuarial reserving process, ensuring reserves are adequate to cover liabilities arising from claims and certify their sufficiency in financial statements.
6. Review and authorize insurance premium and coverage structures, recommend changes, and prepare insurance filings.
7. Collaborate with product development teams to design and price insurance products, conducting pricing analyses to optimize profitability.
8. Support the development of innovative insurance products based on market insights, customer needs, and industry trends.
9. Oversee strategic initiatives, ensuring data-driven decision-making, operational excellence, and improved client retention aligned with Ryan Specialty's vision.
10. Manage the actuarial team, set goals, create budgets, and champion cost-saving initiatives.
11. Maintain and expand knowledge of the insurance industry, actuarial trends, market conditions, and competitors.

Work Experience and Education:

• Demonstrable reserving experience in the UK or US market.
• Experience in the Bermuda market is preferred but not essential.

Disclaimer

Ryan Specialty is an Equal Opportunity Employer committed to building a diverse workforce. We value and evaluate employees based on performance and contributions. Our inclusive workplace respects differences in race, creed, color, religion, gender identity, expression, sexual orientation, and other characteristics, which bring varied perspectives and add value to our services. This policy applies to all employment practices, including recruiting, hiring, discipline, firing, promotion, transfer, compensation, benefits, training, leaves of absence, and other terms of employment.