Senior Reserving Manager

Chubb; Greater London; Hybrid; GBP 90,000 - 130,000; Full time

Benefits offered by this job

Hybrid working options

Pension scheme

Private Medical cover

Life Assurance

Subsidised gym membership

Job summary

Chubb is seeking a qualified actuary to join the Europe reserving team in London. The role focuses on quarterly reserving analyses across multiple lines of business, with primary responsibility for specific lines and collaboration with Underwriting, Claims, Actuarial and Finance.

The candidate will manage peer reviews, present reserve analyses to management, and support planning, pricing and risk. Strong communication, ownership, and problem-solving are essential; hybrid working options and a

Qualifications

• Qualified actuary with post-qualification experience.
• Experience in non-life reserving methods across lines of business.
• Strong communication and collaborative skills.

Responsibilities

• Manage quarterly reserve reviews for specified lines of business.
• Present reserve analyses to Underwriting, Claims, Actuarial and Finance management.
• Support planning, pricing and capital modelling discussions with other teams.
• Coach and develop junior reserving analysts on the team.

Skills

Actuarial reserving

Non-life reserving

Stakeholder management

Communication

Education

Actuarial qualification (FIA/UK)

Job description

Job Description

Description

The Chubb Europe reserving team has responsibility for reserving across lines of business including Casualty, Property, Financial Lines, Accident & Health, Tech Risks, Marine, High Net Worth and Personal Lines. This role will involve undertaking quarterly reserving analyses with a focus on specific lines of business for which you will have primary responsibility. There will be a need for regular communication with all business partners in the reserving process, including Underwriting, Claims, Actuarial and Finance. Developing and managing relationships with these business partners is a key requirement for the role.

The role requires a collaborative, team-based approach to working and the ability to manage conflicting demands in a timely manner, with work often being required for a number of different business partners at the same time. The role holder will be expected to take strong personal ownership for the responsibilities of the role and to demonstrate an ability to develop appropriate solutions to actuarial problems.

While reserving is the primary purpose of the role, there will be regular opportunities to work with actuarial colleagues in the Pricing, Planning and Capital Modelling teams.

Key Responsibilities

Reserving

• Manage and perform the quarterly reviews of reserves on specified lines of business, generally for the purposes of US GAAP reporting. This process includes the calculation of an actuarial central estimate and the incorporation of management’s best estimate. The focus of the role will be to peer review the work completed by reserving analysts for specified lines for which the role has primary responsibility.
• Presentation and communication of quarterly reserve analyses to business/underwriting management.
• Support the communication of reserve review results, including presentation to Executive Management, Reserve Committees, and Group Actuarial.
• Perform and present the results of ad-hoc portfolio analyses, as required.
• Proactively support the development and management of reserving databases, applications and systems.
• Possibility to support the Solvency II Technical Provisions quarterly calculation process, including analysis of change investigations.
• Possibility to support the annual reserve risk parameterisation process, including analysing model results.

Planning/Pricing

• Support the bi-annual loss ratio planning processes, in particular to ensure that the outputs and insight from the reserving process are appropriately reflected in planning exercises and in turn that the outputs from the planning exercises are accurately captured and reflected in the reserving process.

Reporting

• Support the reserving team’s management and statutory reporting requirements with the relevant authorities e.g. ACPR.
• Support external consultants’ and auditors’ independent analyses of reserve adequacy and reserving methods.
• Ensure reserve analyses and results communication are always carried out in line with the required control environment, for example Sarbanes Oxley regulation.

People Management

• Provide regular coaching and feedback to the reserving analysts working on the specified lines for which the role has primary responsibility.
• Act as a role model and actively ensure the team is assuming the values and behaviours of the Chubb culture.

Other

• Support the development of the existing relationship with the dedicated offshore team.
• Be recognised as a problem solver and a successful communicator to non-actuarial colleagues.

Qualifications

Key Skills & Requirements:

• Qualified actuary with at least 3 years of post-qualification experience.
• Several years’ reserving experience in non-life insurance, with knowledge of a range of reserving methodologies and lines of business.
• High integrity and work ethic, team oriented and able to support more junior members of the team.

We offer in return!

Competitive salary & pension scheme, discretionary bonus scheme, 25 days annual leave plus ability to purchase 5 additional days, hybrid working options, Private Medical cover, Employee Share Purchase Plan, Life Assurance, Subsidised gym membership, Comprehensive Learning & development offerings, Employee Assistance program.

Integrity. client focus. respect. excellence. teamwork

Our core values dictate how we live and work. We’re an ethical and honest company that’s wholly committed to its clients. A business that’s engaged in mutual trust and respect for its employees and partners. A place where colleagues perform at the highest levels. And a working environment that’s collaborative and supportive.

Diversity & Inclusion. At Chubb, we consider our people our chief competitive advantage and as such we treat colleagues, candidates, clients, and business partners with equality, fairness and respect, regardless of their age, disability, race, religion or belief, gender, sexual orientation, marital status or family circumstances.

We are committed to ensuring our recruitment process is inclusive and accessible to all. If you have a disability or long-term condition (for example dyslexia, anxiety, autism, a mobility condition or hearing loss) and need us to make any reasonable adjustments, changes or do anything differently during the recruitment process, please let us know.