UK Regulatory Reserving Actuary

The Actuary; Greater London; Hybrid; GBP 60,000 - 75,000; Full time

Job summary

The Actuary in London is seeking a newly or near-qualified actuary to join the UK Actuarial Function of a leading international insurer. You will support calculation and reporting of Solvency II Technical Provisions across the UK business, with a mix of technical reserving work, regulatory reporting and collaboration with the wider actuarial team.

Based in a central London office, the role offers exposure to Standard Formula calculations, data checks, back-testing and opportunities to contribute

Qualifications

• Newly or nearly qualified actuary.
• Good understanding of General Insurance reserving and Solvency II.
• Strong analytical skills and experience working with data.
• Able to communicate technical findings clearly to both actuarial and non-actuarial colleagues.
• Organised, with the ability to manage competing deadlines and maintain a high standard of work.
• A team player who enjoys working with colleagues across actuarial, finance and the wider business.
• Experience using actuarial software and data or reporting tools.

Responsibilities

• Calculate, validate and analyse Solvency II Technical Provisions across UK entities.
• Work on Standard Formula calculations, cashflow production and Internal Model Technical Provisions.
• Carry out data checks, reconciliations and controls to ensure the accuracy of actuarial results.
• Monitor reserving assumptions and methodologies, including back-testing and analysis of emerging trends.
• Contribute to the preparation of Actuarial Function Reports and other regulatory submissions.
• Produce management information and commentary on reserving movements and business performance.
• Support the review and oversight of quarterly GAAP reserving.
• Identify opportunities to improve reserving processes, including automation and more efficient ways of working.
• Get involved in wider actuarial projects covering business planning, capital and risk management.
• Keep up to date with relevant regulatory changes and developments in actuarial practice.

Skills

Analytical skills

Data analysis

Communication of technical findings

Team player

Tools

Actuarial software

Job description

An opportunity has arisen for a newly or nearly qualified Actuary to join the UK Actuarial Function of a leading international insurer.

Reporting to the Head of UK Regulatory Reserving, you will support the calculation and reporting of Solvency II Technical Provisions across the UK business. The role offers a good mix of technical reserving work, regulatory reporting and interaction with the wider actuarial team.

Key Responsibilities

• Calculate, validate and analyse Solvency II Technical Provisions across UK entities.
• Work on Standard Formula calculations, cashflow production and Internal Model Technical Provisions.
• Carry out data checks, reconciliations and controls to ensure the accuracy of actuarial results.
• Monitor reserving assumptions and methodologies, including back-testing and analysis of emerging trends.
• Contribute to the preparation of Actuarial Function Reports and other regulatory submissions.
• Produce management information and commentary on reserving movements and business performance.
• Support the review and oversight of quarterly GAAP reserving.
• Identify opportunities to improve reserving processes, including automation and more efficient ways of working.
• Get involved in wider actuarial projects covering business planning, capital and risk management.
• Keep up to date with relevant regulatory changes and developments in actuarial practice.

About You

• Newly or nearly qualified actuary.
• Good understanding of General Insurance reserving and Solvency II.
• Strong analytical skills and experience working with data.
• Able to communicate technical findings clearly to both actuarial and non-actuarial colleagues.
• Organised, with the ability to manage competing deadlines and maintain a high standard of work.
• A team player who enjoys working with colleagues across actuarial, finance and the wider business.
• Experience using actuarial software and data or reporting tools.

The Opportunity

This is a good opportunity for an actuary looking to build on their reserving experience and develop a broader understanding of regulatory reporting and the wider business. You will work closely with experienced actuaries, with scope to get involved in projects beyond your core responsibilities.

The role is based in a central London office and offers the chance to develop your technical skills within an established UK Actuarial Function.