Job Description

Senior Reserving Actuarial Analyst 

Salary: £80,000

Client: Global Specialty P&C Insurer  

Key Responsibilities

Reserving

• Support the quarterly reviews of premium, loss and expense 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 complete the initial reserve analyses for specified lines for which the role has primary responsibility.
• Prepare quarterly reserve analysis presentations for business/underwriting management.
• Perform and present the results of ad-hoc portfolio analyses, as required.
• Support the communication of reserve review results, including presentation to executive management, group actuarial department and finance department.
• Proactively support the development and management of reserving databases, applications and systems (e.g. ResQ software).
• Support the Solvency II Technical Provisions quarterly calculation process, for French subsidiary and UK branch reporting, including analysis of change investigations.
• Possibility to support the annual reserve risk parameterisation process including analysing model results.
  
  

Planning/Pricing

• Support the loss ratio analysis for the business 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.
• Support external consultant’s and auditor’s independent analysis 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.
  
  

Compliance

• Maintain compliance with any relevant legislation, internal codes of conduct and professional requirements.
  
  

Other

• Contribute to the ongoing development of the reserving capability in both onshore and offshore teams.
• Be recognised as a problem solver.
• Be recognised as a successful communicator to non-actuarial colleagues.
• Operate as a member of the actuarial function, ideally as a student of a recognised actuarial professional body (e.g. Institute and Faculty of Actuaries, Institut des Actuaires or Casualty Actuarial Society).
  
  

Key Skills & Requirements

• Mathematics/Science-based degree or equivalent.
• Working towards qualification from a recognised actuarial professional body (e.g. Institute and Faculty of Actuaries, Institut des Actuaires or Casualty Actuarial Society) or be able to demonstrate a sufficient level of proven experience.

A background in non-life insurance retail or commercial reserving is preferred.