Head of Reserving & Capital

HDI; City Of London; On-site; GBP 70,000 - 110,000; Full time

Job description

HDI is a Corporate & Specialty Insurer part of the Talanx Group. With over 120 years of experience, HDI operates across five continents, around 40 countries and employs over 5,000 people worldwide.

It's an exciting time to join HDI as we continue on a journey of growth! The Head of Reserving & Capital is a newly created role in our Actuarial team and will be part of the UK actuarial leadership team.

The role:

• Strategic Leadership and Oversight: Assist the UK Chief Actuary in providing strategic direction across actuarial functions, including reserving and capital assessment. Contribute to shaping the company’s risk management strategy, ensuring alignment with market dynamics and regulatory changes.
• Financial Stability and Risk Assessment: Collaborate in evaluating risks and liabilities to maintain the financial stability of the business. Provide assessments that support executive decisions, ensuring the company’s solvency and financial health.
• Public Confidence and Regulatory Assurance: Support compliance with PRA and IFoA guidelines, including adherence to actuarial standards (APS X1, TAS100, and TAS200). Ensure all actuarial activities serve public interests and meet regulatory obligations, safeguarding company reputation.

Key accountabilities:

• Risk and Solvency Management Support: Assist in maintaining risk management frameworks aligned with regulatory requirements, including Solvency II. Contribute to periodic solvency assessments, stress testing, and scenario analysis for a comprehensive view of risk exposure.
• Actuarial Reserving: Lead and oversee the reserving process for delegated authority and single risk insurance products, ensuring reserves are accurate and compliant with regulatory requirements. Analyse risk and loss trends to develop reserve strategies that safeguard the company's financial stability. Prepare and present detailed reserve reports for internal and external stakeholders, ensuring transparency and clarity in documentation.
• Actuarial Reporting and Advisory: Conduct and support regular reviews of technical provisions and capital requirements for the UK subsidiary (currently under the Standard Formula). Collaborate with senior management and boards to ensure all actuarial analyses are compliant and well-documented
• Pricing Strategy Review: Review the Underwriting and Pricing strategies of the subsidiary
• Stakeholder Communication and Decision Support: Engage with senior management to provide clear and actionable advice, highlighting key assumptions fostering informed decision-making and alignment with organizational objectives.
• Team Support and Development: Lead the development and mentoring of the subsidiaries actuarial team, encouraging professional growth and maintaining high standards of quality in actuarial processes.
• Strategic Leadership & Team Management: Play a key role in the UK actuarial leadership team, contributing to the strategic direction, operational effectiveness, and overall management of the function, while fostering collaboration and driving continuous improvement.
• Cross-Functional Collaboration: Work closely with finance, underwriting, and risk departments to integrate actuarial insights into financial forecasts and strategic plans.
• Solvency II Actuarial Function Report for the UK Subsidiary: Draft the actuarial function report (AFR) provide a thorough assessment of the Technical Provisions and Solvency Capital Requirement (SCR), ensuring these accurately reflect the company’s risk profile.
• Adhere to all local and Group guidelines

Skills & experience:

• Qualified Fellow of the Institute and Faculty of Actuaries (IFoA) with a live practicing certificate.
• Numerate Degree
• A minimum of seven years of actuarial experience, including recent roles reserving or risk / capital management.
• Demonstrated expertise in insurance and regulatory compliance, with experience supporting board-level discussions and strategic initiatives.
• Proficiency in actuarial systems and methodologies, including reserving, and risk analysis tailored to the London market.
• Familiarity with Solvency II Standard Formula (SCR) calculations. Ability to adapt methods to enhance efficiency and compliance.

As an equal opportunities employer, we are committed to creating an inclusive environment for all employees, recognising that a diverse and inclusive workplace is a creative and prosperous one.

If you require support with your application, please contact UK&[e-mail]