Vacancy – Reserving Actuary
Job Specification
Role: Reserving Actuary
Reporting to: Head of Reserving
Direct Reports: n/a
Department: Actuarial
Purpose:
The role holder will be responsible for supporting the Head of Reserving in coordinating and owning the end-to-end reserving process to ensure that the levels of reserves remain appropriate for the business. The person will require technical skills and the ability to pick up new things quickly, drive to work in a newly established and small team as part of a rapidly growing business and great stakeholder management skills to work effectively with different parts of the business.
Key tasks:
- Help the Head of Reserving with establishing and embedding an actuarial reserving process.
- Work through the end-to-end quarterly reserving process, including data ingestion, model parametrisation across all classes, reviewing key diagnostics (such as the Actual Versus Expected results, key ratios, Analysis of Change) and calculating and proposing appropriate reserve levels on a best estimate basis and summarising outputs.
- Be responsible for maintaining reserving models and ongoing process enhancements.
- Communicate reserve uncertainty/ranges and ensure the methodology and measures used remain robust.
- Perform additional ad hoc actuarial reserve analyses, such as deep dives or investigation into topical areas for various stakeholders.
- Assist in the production of regulatory returns such as the QSR and TPD Lloyd’s returns.
- Analyse and where necessary challenge reserving inputs from elsewhere, such as underwriter case estimates & external catastrophe vendor model outputs.
- Ensure reserving documentation is up to date and appropriate and maintain appropriate records and documentation for all work. Ensure all evidence exists to support compliance with the required maturity for Lloyd’s Reserving Principles.
- Train actuarial analysts to support with reserving activities as required.
- Undertake any other duties as may be reasonably required.
Personal Specification
- Qualified actuary with prior knowledge of reserving techniques, preferably with Lloyd’s Market experience.
- Excellent computer skills including MS Excel and an interest / background in technology (SQL experience would be advantageous).
- Strong communication skills with ability to explain complex issues to non-actuarial and/or junior team members
- Excellent attention to detail.
- Reliable, conscientious and a self-starter with the ability to prioritise and manage workload and work autonomously.
- Team player.
Key interfaces
- Head of Reserving and Actuarial team.
- Underwriting, Claims, Data & MI and Finance teams.
- Reserve Committee.
Application deadline:
30th November 2024
To apply, please email your CV to Nadia Lenzen at NadiaLenzen@daleuw.com
