Actuary – UK Regulatory Reserving

Sompo International; Greater London; On-site; GBP 70,000 - 110,000; Full time

Benefits offered by this job

Health & Wellness Benefits

Retirement & Savings Plans

Global Parental Leave & Adoption Aid

Employee Assistance Program

Tuition Reimbursement & Professional 1

Job summary

Sompo International is seeking an Actuary for UK Regulatory Reserving based in our London office. You will support the Head of UK Regulatory Reserving across the UK Actuarial Function to produce and analyze SII Technical Provisions.

The role involves data validation, reporting, and collaboration with finance and business teams to monitor reserving movements, trends, and regulatory requirements. Newly or nearly qualified actuaries with strong analytical skills are encouraged to apply.

Qualifications

• Newly or nearly qualified actuary with strong knowledge of General Insurance Reserving.
• Strong analytical and problem-solving skills with data analysis experience.
• Excellent communication and ability to explain concepts to diverse stakeholders.

Responsibilities

• Support calculation, validation and communication of UK SII Technical Provisions for UK Entities.
• Produce management information and commentary on reserving movements and trends.
• Assist in Actuarial Function Reports and regulatory reporting requirements.
• Contribute to process improvements and automation in reserving.

Skills

Actuary

Regulatory reserving

Solvency II

General Insurance Reserving

Data analysis

Communication skills

Team collaboration

Actuarial software

Tools

Actuarial software

Data tools

Reporting tools

Job description

Job Description

Sompo has a unique opportunity for an Actuary – UK Regulatory Reserving in our UK Actuarial Function.

The purpose of the Actuary is to support the Head of UK Regulatory Reserving across the Sompo UK business. Reporting to the Head of UK Regulatory Reserving and working closely with the wider UK Actuarial Function this role will contribute to the production, analysis, and communication of the SII Technical Provisions.

Location: This position will be based out of our London Leadenhall St office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.

Our business, your impact, our opportunity:

What you’ll be doing:

• Support the Calculation, Validation and Communication of UK Solvency II Technical Provisions for UK Entities (EWIL, SIIE, AIUK and AMAL).
  • Standard Formula and Cashflow Production.
  • Internal Model Technical Provisions calculations.
  • Appropriate Data Validations, Controls and Reconciliations.
  • Monitoring and Back Testing of assumptions and methodologies over time
• Assist in the production of Actuarial Function Reports and other regulatory reporting requirements relating to Technical Provisions.
• Produce Management Information, analysis, and commentary to support the understanding of reserving movements, emerging trends, and business performance.
• Support UK Actuarial Function Governance with regards to Quarterly GAAP Reserving, as part of the oversight and review of the central team analysis and outcomes.
• Contribute to process improvements initiatives, automation opportunities and enhancements of reserving and regulatory requirements.
• Support broader UK Actuarial Function initiatives, which could include input to Business Planning, Capital considerations, and contributions to the UK Risk Management Framework.
• Develop technical actuarial expertise and maintain awareness of relevant regulatory development and industry practice

What you’ll bring:

• A newly or nearly qualified Actuary with strong actuarial and analytical background with good knowledge of General Insurance Reserving principles and Solvency II requirements.

• Strong analytical and problem-solving skills with experience of data analysis.

• Strong communication skills with the ability to explain technical concepts to a range of stakeholders.

• Ability to manage multiple deliverables at the same time whilst maintaining high-quality standards.

• Strong collaboration and teamwork and ability to work effectively across actuarial, finance and business teams.

• Experience of actuarial software, data tools, and reporting tools.

At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.

Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.

We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents.

Below is a summary of some of the benefits we offer, which may vary depending on the country:

• Health & Wellness Benefits

• Retirement & Savings Plans

• Global Parental Leave & Adoption Assistance

• Employee Assistance Program

• Tuition Reimbursement & Professional Qualification benefits

Who we are and what we stand for:

At Sompo, our shared purpose is to create meaningful value for clients, communities, and each other. We strive to foster a workplace where everyone feels respected, included, and empowered to excel. As a global organization, we embrace diversity and champion equal opportunity. Guided by our core values—Accountability, Agility, Collaboration, Development, and Integrity—we build trust and support one another to achieve our goals worldwide. Life at Sompo page

Our values come to life in how we hire and grow talent. Employment decisions are based on qualifications, merit, and organizational need, and we strive to ensure equitable access to opportunities so everyone can do their best work. If you need an accommodation for any part of the application process, please contactthe recruiter in charge.