Senior Actuarial Analyst - Insurance Reserving

Aspen Group; London; On-site; GBP 50,000 - 90,000; Full time

Job summary

Join a forward-thinking company as a Senior Actuarial Analyst, where you will provide high-quality statistical analysis and support the Actuarial Reserving Teams’ objectives. In this exciting role, you will manage junior staff, collaborate with global peers, and contribute to the quarterly reserving exercise, ensuring accurate data and insightful analyses. This position offers a unique opportunity to enhance your career in a supportive environment that values respect, honesty, and professionalism. If you are passionate about actuarial science and eager to make a meaningful impact, this role is perfect for you.

Qualifications

• 3-5 years industry experience in actuarial analysis and reserving.
• Strong knowledge of financial services industry best practices.

Responsibilities

• Provide high quality statistical analysis and support for actuarial reserving.
• Manage junior staff and collaborate with peers on complex challenges.

Skills

MS Excel

VBA

SQL

Python

C#

R

MS Access

MS PowerPoint

MS Word

Effective communication

Education

BSc in Mathematics, Statistics, Economics, Actuarial Science, or similar

Recognised actuarial qualification

Job description

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Senior Actuarial Analyst - Insurance Reserving

Date: Feb 7, 2025

Location: London, GB, EC3M 3BD

Company: Aspen Insurance

Since Aspen was founded in 2002, we have become a leading, diversified specialty insurance and reinsurance company. We respond thoughtfully and creatively to find the best outcomes for our clients and business partners through carefully-tailored solutions.

We believe the way we work is just as important as the work we do, and we are guided by our core values of respect, honesty, trust and professionalism.

Aspen is a great place to develop your career offering an exciting and challenging environment where achievement is rewarded.

The Role

• To provide high quality statistical analysis and analytical support and assist with the delivery of the Actuarial Reserving Teams’ Objectives.
• To manage and provide direction to more junior staff members.
• To collaborate with peers within the global actuarial function and other relevant business areas to deliver solutions to complex technical challenges through research and development of financial services industry best practice and actuarial analysis.
• Specifically, this role will support the quarterly reserving exercise, including:
  • Development an understanding of relevant data source and systems
  • Completing quarterly reserving exercise for assigned lines of business
  • Performing deep dive analyses
  • Presenting findings where appropriate
  • Help improve the reserving process
  • Answering queries from key stakeholders on reserving results
  • Drafting reserving reports.

Our Aspen Values are expected to be reflected in the delivery and performance of every role

Key Accountabilities

Strategy and Planning

• Contributes to the tactical Actuarial plan and provides support to others to achieve positive results for the business, in line with strategy
• Contributes to shaping Actuarial strategy and provides tactical leadership and support to colleagues to achieve positive results for the business in line with strategy
• Contributes to the delivery of key Actuarial projects in line with Actuarial strategic vision
• Performs, analyses and documents conclusions as well as making recommendations to assist Actuarial management with making sound business decisions, as directed

Policy, Process and Procedures

• Ensures key processes and policies are adhered to and ensure Aspen actuarial procedures comply with Actuarial professional standards, internal standards and regulatory requirements
• Acts in accordance with and is an advocate of the Aspen Principles & Values
• Manages and revises appropriate systems and procedures to ensure accurate data is used and subsequently appropriate analyses are produced
• Adopts efficient and consistent actuarial models and processes and/or technologies where appropriate
• Ensures appropriate checks are performed within processes to minimise inaccuracies

Environmental Awareness/Customer Focus

• Builds and maintains positive relationship with Underwriters, Finance, Claims, Ceded Reinsurance and all other internal functions to improve customer focus
• Interacts with peers internally and externally to ensure good business relationships are developed and maintained
• Collaborates effectively with colleagues and third parties from actuarial and other disciplines to achieve successful outcomes
• Provides and participates in feedback and cross training to/from other members of Actuarial, as required

Technical Performance

• Specifies approaches, structure, and associated testing of actuarial analysis, as required
• Maintains and develops actuarial best practice in line with the strategic priorities of the business
• Identifies areas for process or actuarial methodology improvement and creates cases for these to be implemented as appropriate.
• Enhances organizational initiatives by positively influencing and supporting change management initiatives within assigned areas of responsibility
• Analyses information and utilizes actuarial models to produce standard and ad hoc reports to inform and advise in relation to predicted risk and associated costs particularly in relation to:
  • Reserving
  • Quarterly financial reporting
  • Sustainability
  • Rights Options

Knowledge

• Good understanding of financial services industry best practice in actuarial reserving analysis
• Develop a good understanding of Aspen insurance and business processes
• Strong knowledge of actuarial analysis, modelling, and communication
• Proven knowledge and capability in applying industry and marketplace knowledge in shaping actuarial and underwriting strategy.
• Knowledge of the annual actuarial planning process

Skills

• Good knowledge of MS Excel (essential)
• Knowledge of programming languages such as VBA, SQL, Python, C#, R etc advantageous.
• Good working knowledge of MS Access, MS Powerpoint and MS Word advantageous
• Effective communication and interpersonal skills, with the ability to work with a variety of stakeholders
• Ability to persuade and influence both directly and indirectly
• Ability to produce detailed reports at various levels
• Ability to conceptualise in solving specific problems
• Excellent in the use and interpretation of numerical data
• Ability to organize work to meet deadlines
• A curious and inquisitive mindset
• Comfortable dealing with uncertainty, ambiguity, and change

Experience

• BSc in Mathematics, Statistics, Economics, Actuarial Science, Computer Programming or similar
• Recognised actuarial qualification or progress towards becoming a qualified Actuary accredited by Institute of Actuaries or equivalent body
• 3-5 years industry experience
• Familiarity with technical concepts and practices in the US admitted and E&S Markets / London Market / UK Commercial Lines Insurance / Financial & Professional Lines Insurance advantageous
• General experience in insurance industry involving data/analysis/systems/projects
• Preferred area of studies in a field where analytical and problem-solving skills are fundamental and clear written and verbal communication skills were encourage

At Aspen we know that having a diverse and inclusive workforce is good for our people, good for our business and good for the environments in which we operate. We therefore welcome applications from people which allows us to draw on diverse cultures, perspectives, skills and experiences.