Reserving Actuary

Berkley; London; On-site; GBP 65,000 - 85,000; Full time

Job summary

A leading company in the insurance industry is seeking an experienced Actuary for a Reserving position in London. The role focuses on producing reserve analyses under GAAP and Solvency II, maintaining strong stakeholder relationships, and developing data analysis processes. Candidates should have a degree in Mathematics, significant reserving experience, and strong analytical and communication skills.

Qualifications

• 5+ years of non-life reserving experience.
• Understanding of Solvency II concepts.

Responsibilities

• Review and maintain GAAP reserving assumptions.
• Produce monthly and quarterly GAAP reserving estimates.
• Analyze Reserve Risk parameters for Capital modelling.
• Ensure compliance with Solvency II regulations.

Skills

Analytical skills

Problem solving

Communication

Interpersonal skills

MS Office

Knowledge of ResQ

Education

University degree in Mathematics or analytical discipline

Qualified or nearly qualified member of the Institute of Actuaries

Job description

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• 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

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.
• 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.

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.