Chief Actuary UK

Wakam; Remote; GBP 70,000 - 90,000; Full time

Job summary

A European B2B2C insurer is seeking an experienced actuarial manager in Greater London. The successful candidate will oversee the actuarial and reinsurance function, design actuarial models, and make recommendations on solvency and reserves. Ideal applicants will have significant experience in a similar role in the UK, strong leadership and analytical skills, and the ability to influence. This innovative company promotes a culture of autonomy and is open to remote work.

Benefits

Full-remote opportunities

Flexible working hours

Culture of autonomy

Qualifications

• Significant experience in a similar role for a non-life insurer in the UK.
• Ability to influence direct and matrixed reporting relationships.
• Experience in capital management and actuarial functions.

Responsibilities

• Oversee actuarial and reinsurance function in the UK.
• Design and deliver actuarial models and systems.
• Make recommendations regarding solvency and reserve levels.

Skills

Strong technical and analytical skills

Leadership and managerial proficiencies

Good problem-solving skills

Highly developed analytical skills

Education

Fellow of a relevant Actuarial Society

Job description

Wakam is a European B2B2C insurer that designs white label general insurance (GI) products for its partners e‑retailers, brokers and fintechs / insurtechs, ...). Our insurance solutions are embedded within the products or services offered to the end‑customer. Wakam operates in 32 countries across Europe with most of the revenues generated outside of France. Most of our products are delivered through API and host white label insurance solutions via our Play&Plug platform. Since March 2021, we are a Mission‑driven company. We defined 9 concrete commitments to illustrate this mission, such as writing our insurance contracts in plain language. We also create insurance products at cost for associations. Our culture? Free to impact. A culture where everything is possible, where all ideas are taken into consideration, where everyone has an impact! Hungry for freedom? Thirsty for autonomy? If you are curious, then the Wakam adventure might be made for you!

Main Tasks & Responsibilities

• Responsible for the reserving, reinsurance and capital management strategies in the UK, in partnership with group functions.
• Maintaining oversight of the Company’s actuarial and reinsurance function in accordance with the Company’s Terms of Reference and managing, leading and developing the actuarial, capital management and reinsurance function.
• Design and delivery of actuarial models, processes and systems.
• Oversee validity of modelling data, stress‑testing and ensuring robust controls are in place.
• Reinsurance portfolio analysis, annual plans and oversight.
• Make recommendations regarding solvency, reserve levels, capital assessment and provision.
• Co‑ordinate the calculation of technical provisions ensuring methodology and assumptions are appropriate, assessing sufficiency and quality of data, comparing best estimates against experience.
• Inform governing body of reliability and adequacy of the calculation of technical provisions.
• Express opinion on overall underwriting policy and types of customers the Company is prepared to accept.
• Contribute to effective implementation of the risk management system, especially regarding solvency capital requirements, minimum capital requirements and the Company’s ORSA.
• Own key risks in accordance with the Risk Management Framework and Policy, ensuring actuarial systems are properly maintained and supported.

Your profile

• Significant experience in the UK in a similar role for a non‑life insurer, and ideally already holding SMF20 or a Fellow of a relevant Actuarial Society.
• Strong technical and analytical skills with a global view of finance, actuarial and underwriting subjects.
• Leadership and managerial proficiencies, with the ability to influence both direct and matrixed reporting relationships.
• Good problem solver with the ability to understand business drivers and needs and balance desired outcomes against potential risks and challenges.
• Highly developed analytical and problem‑solving skills.

Recruitment process

• Screening interview with Charlotte, Talent Expert.
• Technical & fit interview with Aurélie, Pricing Officer.
• Leadership fit interview with senior executive team member.
• HR culture fit interview with Laura, Head of Talent & Aurélien, VP People & Culture.

More about us

Our culture? Free to impact. A culture where everything is possible, where all ideas are taken into consideration, where everyone has an impact on the transformation of insurance! Hungry for freedom? Thirsty for autonomy? If you are adventurous and like challenges, then the Wakam adventure might be made for you! Discover – on our website – who we really are with the 11 cultural markers that so well describe us! What we are looking for: Mindset compatibility with our ‘Free to Impact’ culture. Think big, be biased for action, curious and eager to learn, can say no and find solutions, aim for the moon (but please don’t stick on the moon) and above all: have fun working together. Good to know: Wakam is not based on a hierarchy but on a methodology where everyone finds his role and knows his objectives. With a flat hierarchical system and a highly collaborative operating model, Wakam is an extremely agile and transparent company. Every last Friday of the month, it's Free.day at Wakam, a day without meetings to take a step aside and dedicate ourselves to skills sponsorship or other activities (because we are curious, I remind you). Full‑remote is a reality at Wakam (there is even one Wakamee who works from his sailing boat ⛵). Last but not least: we are nice and we have fun! (you’ll find out by yourself)