Reserving Actuary

Westfield Specialty; London; On-site; GBP 50,000 - 70,000; Full time

Job summary

A leading company in property and casualty insurance is seeking a professional to support the international reserving function. This role involves assessing reserves, preparing documentation for regulatory bodies, and collaborating with various teams. The ideal candidate will possess strong interpersonal skills, technical abilities, and be making progress towards FIA qualification.

Qualifications

• Making good progress to being FIA qualified.

Responsibilities

• Assessment of gross and net reserves by class of business.
• Performance of reserving analysis and managing SAO relationships.
• Preparation of reports for Quarterly Syndicate & Group functions.

Skills

Interpersonal Skills

Communication Skills

Teamwork

Technical Skills

Education

FIA Qualification Progress

Tools

Excel

SQL

Job description

About Us

Founded in 1848, Westfield is a global leader in property and casualty insurance, delivering superior risk insights and innovative solutions to customers through a diverse portfolio of insurance products. Westfield underwrites commercial, personal, surety, and specialty lines of coverage through a network of leading independent agents and brokers in the United States and specialty products through Lloyd’s of London Syndicate 1200. As a mutual insurance company with more than 3,000 employees, Westfield has revenues in excess of $4 billion and more than $10 billion in assets.

Job Summary

Responsible for providing support to the international reserving function and Technical Provision reporting and to provide support on ad-hoc projects to senior members of the International & Group actuarial function.

Job Responsibilities

• Assessment of gross and net reserves by class of business and take responsibility for reserving classes grouped into particular divisions.
• Performance of reserving analysis and assist in managing SAO relationships.
• Assessment of Technical Provisions under Solvency II or other local regulation.
• Support preparation of documentation and returns for local regulatory bodies
• Preparation of reports for Quarterly Syndicate & Group functions and use of data warehouse.
• Support of and liaising with pricing/underwriting/claims teams on a regular basis.
• Preparation of reserving information to inform management and support underwriting teams.
• Assessment of the reserve risk parameters that fed into the internal capital model.
• Close collaboration with the capital modelling team to assist with internal model calibration.
• Ad-hoc analysis of certain areas of the portfolio and provide support to the Group function.

Skills & Competencies Required

•Excellent interpersonal/communication skills and committed individual/team work ethic

•Advanced Excel and SQL skills desirable

•Good team player and ability to motivate others

•Ownership of delivery quality and take accountability for own work

•Good technical skills and ability to make objective decisions with clear rationale.

Qualifications & Experience

•Making good progress to being FIA qualified

Westfield Specialty International Culture

Our culture is centred around three core values: Excellence, focused on high performance, agility and embracing change; Ambition, where inquisitiveness, challenge and a bold approach is encouraged; and Collaboration, delivering shared goals through collective expertise, diversity of thought and transparency. All three are underpinned by Reward & Recognition, where people are supported & respected, and success is celebrated.

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.