Title: Senior Reserving Actuary
Reports to: UK & Ireland Chief Actuary
Location: London (Flexible between office and WFH)
Salary: Up to £110,000 basic + comprehensive company benefits
Our client is a long-term consolidator in the non-life insurance/reinsurance run-off sector and was established in 2005 to focus solely on the acquisition and management of non-life insurance/reinsurance companies in run-off. Since its foundation, our client has acquired or reinsured $9bn of non-life insurance and reinsurance liabilities and has received approvals from Bermudian, Irish, Malaysian, Singaporean, Swiss, UK (PRA and FCA) and various US state insurance regulators for prior acquisitions and reinsurance transactions.
Our client operates from global offices situated across the United States, Bermuda, Ireland, United Kingdom, Switzerland and Asia.
Our client is looking for a Senior Reserving Actuary to support the UK & Ireland Chef Actuary as part of the UK Actuarial Function, to manage and perform regular reserving exercises across a diverse range of business classes, and to build strong relationships with other functions in order to deliver UK, Ireland and Group objectives.
This role has visibility across the company, including UK CEO, CFO, Claims Director and CRO and the Group Chief Actuary.
Key responsibilities include:
- Management of the UK EL reserving process (c1bn gross reserves)
- Involvement in the reserving process for other lines of business, including US APH, German MedMal, PPOs
- Business partnering to help deliver key strategic objectives in areas such as commutations, claims analytics and claims initiatives
- Peer view of reserving performed by other team members
- Setting up of new reserving processes as required following the acquisition of new books
- Building strong relationships across UK and Group functions to promote the role of the Actuarial Function within the company
- Acting as deputy to UK & Ireland Chief Actuary as required
- UK (or equivalent) qualified P&C Actuary, with at least 4 years post qualified experience
- Strong reserving background, including experience across a number of long tail lines
- Knowledge of best practice reserving for key UK EL exposures including mesothelioma and other asbestos type claims and NIHL claims
- Excellent written and verbal communication skills to be able to explain complex actuarial techniques and results to non-technical audiences including senior executives
- Ability to build productive relationships with non-actuarial functions to improve outcomes for actuarial processes and to support the business in achieving its objectives
- Ability to find solutions to complex reserving problems
- Ability to adapt quickly to understand the key characteristics of, and be able to advise on, new lines of business
- Excellent time management skills, to be able to effectively prioritise and plan work
- Track record of timely delivery of high quality actuarial work
- Ability to provide guidance and mentoring to less experienced members of a team
- Experience of working in a SII regulated environment
- Lloyd’s experience beneficial but not essential
- Capital experience beneficial but not essential