Deputy Reserving Manager

Chubb Insurance; City Of London; On-site; GBP 90,000 - 130,000; Full time

Job summary

Chubb seeks an experienced reserving professional to manage quarterly reserve reviews across multiple lines of business, collaborating with underwriting, claims, actuarial and finance partners to deliver robust analyses. The role emphasizes ownership, problem-solving and clear communication with senior management.

While reserving is primary, there are opportunities to work with Pricing, Planning and Capital Modelling teams, and to contribute to governance and regulatory reporting in a global

Qualifications

• Experience in quarterly reserving analyses across multiple lines of business.
• Strong communication with Underwriting, Claims, Actuarial and Finance partners.
• Ability to develop solutions to actuarial problems and own responsibilities.

Responsibilities

• Manage quarterly reviews of reserves for specified lines, reporting for US GAAP.
• Present reserve analyses to management and committees.
• Support solvency provisions analysis and reserve risk parameterisation.
• Contribute to planning, pricing and capital modelling collaboration.
• Coach and develop reserving analysts and promote Chubb values.
• Support relationship with offshore team and communicate with non-actuarial colleagues.

Skills

Reserving experience

Actuarial analysis

Stakeholder management

Communication

Education

Actuarial qualification (FIA)

Tools

Prophet

SAS

Job description

Description

The Chubb Europe reserving team has responsibility for reserving across lines of business including Casualty, Property, Financial Lines, Accident & Health, Tech Risks, Marine, High Net Worth and Personal Lines. This role will involve undertaking quarterly reserving analyses with a focus on specific lines of business for which you will have primary responsibility. There will be a need for regular communication with all business partners in the reserving process, including Underwriting, Claims, Actuarial and Finance. Developing and managing relationships with these business partners is a key requirement for the role.

The role requires a collaborative, team-based approach to working and the ability to manage conflicting demands in a timely manner, with work often being required for a number of different business partners at the same time. The role holder will be expected to take strong personal ownership for the responsibilities of the role and to demonstrate an ability to develop appropriate solutions to actuarial problems.

While reserving is the primary purpose of the role, there will be regular opportunities to work with actuarial colleagues in the Pricing, Planning and Capital Modelling teams.

Key Responsibilities

Reserving

• Manage and perform the quarterly reviews of reserves on specified lines of business, generally for the purposes of US GAAP reporting. This process includes the calculation of an actuarial central estimate and the incorporation of management’s best estimate. The focus of the role will be to peer review the work completed by reserving analysts for specified lines for which the role has primary responsibility.
• Presentation and communication of quarterly reserve analyses to business/underwriting management.
• Support the communication of reserve review results, including presentation to Executive Management, Reserve Committees, and Group Actuarial.
• Perform and present the results of ad-hoc portfolio analyses, as required.
• Proactively support the development and management of reserving databases, applications and systems.
• Possibility to support the Solvency II Technical Provisions quarterly calculation process, including analysis of change investigations.
• Possibility to support the annual reserve risk parameterisation process, including analysing model results.

Planning/Pricing

• Support the bi-annual loss ratio planning processes, in particular to ensure that the outputs and insight from the reserving process are appropriately reflected in planning exercises and in turn that the outputs from the planning exercises are accurately captured and reflected in the reserving process.

Reporting

• Support the reserving team’s management and statutory reporting requirements with the relevant authorities e.g. ACPR.
• Support external consultants’ and auditors’ independent analyses of reserve adequacy and reserving methods.
• Ensure reserve analyses and results communication are always carried out in line with the required control environment, for example Sarbanes Oxley regulation.

People Management

• Provide regular coaching and feedback to the reserving analysts working on the specified lines for which the role has primary responsibility.

• Act as a role model and actively ensure the team is assuming the values and behaviours of the Chubb culture.

Other

• Support the development of the existing relationship with the dedicated offshore team.
• Be recognised as a problem solver and a successful communicator to non-actuarial colleagues.