Reserving Actuary

The jobholder will be an ambitious actuary who wants to work as part of a Reserving team, providing a wide range of actuarial reserving services for non-Lloyd’s entities. A key part of the role will be working on quarterly reserving, assisting on a wide variety of Reserving Projects.

• Post qualified i.e. Fellow of the Institute and Faculty of Actuaries FIA (or equivalent being FCAS, FIAA) with at least 7 years’ experience within a Lloyd’s/London Market reserving role 

• Established, strong knowledge of GAAP, Solvency II and Solvency UK. 

• IFRS17 knowledge 

• Knowledge of regulatory requirements and an understanding of how they impact on the business

• Strong knowledge and delivery professional standard requirements

• Strong understanding of P&C (re)insurance and reserving practices and products

• Significant experience in understanding, explaining and analysing financial impacts and drivers of change

• Experience managing projects and effectively representing your department

• Demonstrated ability to identify and implement departmental processes and controls and ensure that these are appropriately documents

• Proficient in actuarial software, database and reporting tools including ResQ

• Demonstrated ability to understand complex actuarial models

• Advanced proficiency in Microsoft Office Suite (Excel, Word, Powerpoint) 

• Desired ability to code in VBA, SQL, Python and use Gen AI

Some of the key areas of responsibility are as follows:

• Lead the analysis of the technical reserves on a quarterly basis for multiple lines of business

• Lead reserving projects, such as automation of current processes and modelling of specific lines of business

• Lead reporting for SCOR UK and SCOR Europe boards and other governance bodies as required

• Lead improvements of certain models, visualisation tools and dashboards

• Annual review of the UK portfolio and contribute to the actuarial report for the various UK and European legal entities

• Carry out regular or ad hoc studies for specific segments

• Work closely with claims team, finance team, underwriters and underwriting management and other members of the actuarial team to develop, review and maintain appropriate tools and methodologies

• Communicate with external Actuaries, Auditors and external regulators when required.  Be able to respond to auditor queries and undertake audit defence to UK audit standards

• Help enhance management information and reporting for the PRA and ACPR

• Communicate key movement/trends/events to the business on a quarterly basis

• Mentor, grow and develop junior members of the team