Senior Actuarial Reserving Analyst

TN United Kingdom; Haywards Heath; On-site; GBP 40,000 - 80,000; Full time

Job summary

An innovative, market-leading insurance company is seeking a Senior Actuarial Reserving Analyst to join their Finance team. This role involves providing analysis and insights on claims reserves, enhancing actuarial methods, and developing diagnostic tools. The ideal candidate will have strong analytical skills, a background in actuarial science, and experience in motor and home insurance. This forward-thinking firm values its employees, offering extensive learning opportunities and a supportive work environment. Join a team that prioritizes personal growth and professional development, ensuring you have the tools to excel in your career.

Benefits

Learning and development opportunities

Support for external certifications

Flexible working arrangements

Buddy programs

Skill-building workshops

Qualifications

• Minimum 2 years core reserving experience with actuarial methods.
• Strong analytical skills and problem-solving abilities required.

Responsibilities

• Quarterly reviews of reserves and application of actuarial techniques.
• Monthly monitoring of claim performance and investigation of deviations.

Skills

Actuarial methods

Statistical techniques

Analytical skills

Problem-solving skills

Communication skills

Education

Bachelor’s degree in Actuarial Science

Bachelor’s degree in Mathematics

Bachelor’s degree in Statistics

Tools

ResQ

Job description

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Senior Actuarial Reserving Analyst, Haywards Heath

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Client:

First Central Insurance Management Ltd

Location:

Haywards Heath, United Kingdom

Job Category:

Other

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EU work permit required:

Yes

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Job Reference:

09a6bb6007f8

Job Views:

11

Posted:

26.04.2025

Expiry Date:

10.06.2025

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Job Description:

We’re First Central Insurance & Technology Group (First Central for short), an innovative, market-leading insurance company. We protect the things customers love so they can get on with what matters to them in life.

Data drives us. It fuels our outstanding distribution, finance, technology and legal services. Our underwriting skills are built on data expertise; it creates the insights we need to give the right cover to the right customers at the right price. But, it’s the people inside and outside our business that power us. They make us stand out, help us succeed. We’re ambitious. We’re growing. We’ve won awards.

We’re ambitious. We’re growing. We put people first. Always. Come and join us!

Analytical with an aptitude for detail? Intuitive, analytical and scalable model designer? These are just some of the skills you'll bring to our Finance team as a Senior Actuarial Reserving Analyst.

Providing analysis and insight on claims reserves, you'll be the go to expert for the Reserving Team giving recommendations for Best Estimate claims reserve. You'll also have responsibility for the ongoing development and enhancement of actuarial methods and diagnostic tools in the reserving analysis and monitoring of loss trends.

We go above and beyond to welcome new colleagues with open arms, offering a wealth of learning and development opportunities right from the start. We truly invest in making sure everyone has the chance to grow and succeed. From training sessions, buddy programs, skill-building workshops to supporting external certifications - we're dedicated to nurturing top talent every step of the way and giving you the opportunity to shine. What's more, we provide qualifications directly related to your area of work, ensuring you have the expertise you need to excel in your role.

Working flexibly, you'll spend most of your time working from home, with a day a week in the office (so living close to Salford Quays, Manchester or Haywards Heath, West Sussex would be perfect). But of course, it’s your choice - if you prefer to be in the office more - that's good with us too. We're also open to applicants who live commutable to our offices in Guernsey or Gibraltar.

We'd love you on the Team if you've:

• Reserving experience involving practical application of actuarial methods and statistical techniques are in your toolkit
• Communicating complex matters is one of your strengths
• Strong analytical skills with aptitude for detail and ability to apply advanced problem solving skills!

Job Responsibilities:

1. Quarterly reviews of reserves. Work covers:

• Appropriate application of actuarial loss reserving techniques and expert judgement, producing an appropriate Best Estimate reserve figure;
• Production of findings in a clear and logical manner, identifying areas of risk and opportunity;
• Ongoing development and enhancement of actuarial methods and diagnostic tools applied in reserving analyses and monitoring of loss trends;
• Co-ordinate with actuarial pricing teams and claims insight function to ensure a consistent best estimate view of ultimate reserves is used;
• Maintenance and further development of detailed documentation of reserving assumptions and methodology including actuarial procedure documents;
• To mentor and support other members of the Reserving Team;
• Lead data validation tasks ensuring the data used within a reserving exercise is accurate, recommending and implementing process improvements where required;
• Liaise with finance, claims management and business intelligence to ensure data accuracy;
• Support with ad hoc requests from management, regulators and auditors as required, including liaising with external actuaries;
• Support independent actuaries in the completion of their independent reserve reviews.

2. Monthly monitoring of claim performance:

• Support the actuarial input into the monthly Skyfire Claims review meeting;
• Monitor how claims experience is developing against expectation;
• Investigate deviations to provide insight to the business;
• As appropriate, support the Claims Insight area in providing recommendations on claims inflation

3. Involvement in Solvency II technical provision calculations and related regulatory returns, including:

• Update and development of key reserving processes, model variables and assumptions used to input into Solvency II technical provisions;
• Support in the development of the technical provision model;
• Support in the calculation of the Events not in data (ENID) allowance;
• Assist other business units regarding regulatory matters related to Solvency II technical provisions as required, including help with completing regulatory submissions;

4. Periodic analysis of reserve risk to quantify and communicate the range of uncertainty around the actuarial best estimate and support internal capital modelling, including:

• Support in specifying and calibrating a set of statistical distributions used to model reserve risk;
• Contribute to internal model validation by implementing improvements to address prior validation findings and assisting with validation queries.

General

• Contribute to the growth of intellectual capital within the actuarial reserving department through attendance and participation in professional development initiatives and events as well as sharing of specialized expertise with other members of the team.
• Demonstrate planning in execution of work, so that spreadsheets and models are intuitive, dynamic and scalable, with appropriate audit trails.

Skills and Experience Specification:

• Ideally a minimum of 2 years core reserving experience involving practical application of actuarial methods and statistical techniques used in reserving.
• Bachelor’s degree in Actuarial Science, Mathematics, Statistics or related field.
• Strong analytical skills with aptitude for detail and ability to apply advanced problem solving skills.
• Good written and verbal communications skills.
• Proficiency and experience working with ResQ.
• Previous experience working in Motor and Home insurance

Want to know more? Sounds like you? Then click on Apply.

We’re officially a Great Place to Work among Super Large UK companies and we’ve ranked anincredible 7th in the UK for Wellbeing.

This is just the start. Imagine where you could end up! The journey’s yours…

What can we do for you?

People first. Always. We’re passionate about our colleagues and know the best people deserve an extraordinary working environment. We owe it to them so that’s what we offer. Our workplaces are energetic, inspirational, supportive. To get a taste of the advantages you’ll enjoy, take a look at all our perks in full .

Intrigued? Our Talent team can tell you everything you need to know about what we want and what we’re offering, so feel free to get in touch.