Reserving Actuary

W. R. Berkley Corporation; City Of London; On-site; GBP 50,000 - 75,000; Full time

Job summary

A leading company in the insurance industry seeks an experienced actuary for their Reserving team in London. The role focuses on reserve analyses under GAAP and Solvency II, requiring a strong analytical background and good communication skills to interact with various stakeholders. This position offers the chance to work on complex problems in a dynamic environment, all while pursuing an actuarial qualification.

Qualifications

• 5+ years previous non-life reserving experience.
• Understanding of Solvency II concepts required.
• Proficiency in building reserving models and performing analyses.

Responsibilities

• Produce reserve analyses and results under GAAP & Solvency II.
• Maintain and develop understanding of Solvency II regulations.
• Liaise with internal and external audit and actuaries.

Skills

Analytical skills

Problem solving

Communication

MS Office

SQL

Python

R

Knowledge of ResQ

Education

University degree in Mathematics or an analytical discipline

Qualified or nearly qualified fellow of the Institute of Actuaries

Tools

ResQ

Job description

Company Details

Education & Qualifications

• University degree in Mathematics or an analytical discipline.
• Qualified or nearly qualified fellow of the Institute of Actuaries.

Skills and Abilities:

• Knowledge and prior reserving experience of the London and Lloyd’s market.
• Experience in building reserving models & ad hoc analyses.
• Strong analytical and problem solving skills.
• Strong communication and people skills
• Excellent MS Office skills including Word, Excel, Access.
• Knowledge of ResQ
• Strong general programming skills (e.g. SQL, Python, R).

Knowledge & Experience

• 5+ years previous non-life reserving experience.
• An understanding of Solvency II concepts

Aptitude and Disposition

• Strong analytical skills, and the ability to find solutions to complex problems.
• Attention to detail.
• Outcome focused, self-motivated, flexible and enthusiastic.
• Ability to manage competing priorities.
• Strong interpersonal skills with a proven ability to communicate effectively with stakeholders at various levels, both verbally and in writing.
• Able to develop relationships at all levels.

A “can do” solution driven working style.

Responsibilities

The Reserving function provides reserve analyses and results under GAAP & Solvency II. The team produce Technical Provisions and Reserve Risk assumptions used in the Capital model. The role is focused on Reserving and Technical Provisions, but will also include exposure to Capital modelling and Pricing. It is expected that the job holder will pursue an Actuarial qualification or appropriate CPD.

Specific responsibilities:

• Review, update and maintain assumptions within the GAAP reserving process.
• Produce monthly and quarterly gross and reinsurance estimates for GAAP reserving.
• Produce required analysis of Reserve Risk parameters for Capital Modelling.
• Produce required analysis of Solvency II Technical Provisions.
• Maintain and develop understanding of latest Solvency II regulations and ensure compliance.
• Develop data analysis processes, and constantly looking to enhance and improve those processes already in place.
• Undertaking research and development.
• Maintain strong relationships with Underwriting, Claims, Finance and Management information teams to ensure timely production of actuarial reviews.
• Assist liasion with the WRB Corporate Actuarial team.
• Interaction and the building of strong working relationships with key stakeholders and may require presentation within committees, meetings etc.
• Liaise with internal and external audit. Liaise with external actuaries performing an independent review for the Statement of Actuarial Opinion.
• Produce ad hoc analyses to support reserve reviews.