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Reserving Actuary

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  • Contact:

    Chloe Hesketh

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  • Published:

    ongeveer een maand geleden

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Reserving Actuary

Reporting into: Head of Reserving

  • Perform (as required) the quarterly reserving and trust fund valuations for Specialty Risks, Cyber Risks, Digital Risks, Property Risks and MAP Risks classes of business
  • Maintain evidence of valuation assumptions
  • Peer review colleagues' work to provide quality assurance
  • Contribute to reporting the results of actuarial valuations and analyses to the relevant stakeholders and committees
  • Calculate, review and communicate reserve uncertainty/ranges and ensure the methodology and measures used remain robust
  • Perform and review (as required) the quarterly technical provisions valuations, validations and reporting requirements, adhering to the required standards and ensuring technical provisions deliverables are met in a timely manner to a high standard
  • Liaise with actuarial colleagues, Finance, underwriting teams and claims managers to forecast ULRs for financial planning and reporting
  • Work with the Finance, Data Management and Ceded Reinsurance teams to produce and reconcile the data for the valuation processes
  • Contribute to the maintenance of documentation with the required frequency, adhering to the review requirements and obtaining the appropriate sign-offs
  • Support the work of external actuaries as required
  • Assist in other projects undertaken by the actuarial team e.g. M&A and business planning analyses
  • Build and maintain constructive working arrangements with those groups identified as being key to your role
  • Operate as an effective team member by supporting colleagues and contributing in the delivery and achievement of overall team and business objectives
  • Provide support and mentoring to the assistant reserving actuaries, with potential for line management responsibilities
  • Become a technical expert and trusted advisor for management on reserving and related matters
  • Keep abreast of industry best practice, new initiatives and changes in regulatory requirements
  • Identify opportunities and deliver improvements in the valuation processes and methodologies
  • Undertake applicable professional, technical and career development training (delivered internally and externally)


It is important that within all your interactions both internally and externally you adhere to the core values - Being Bold, Striving for Better, and Doing the Right Thing - as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect all employees to:

  • Comply with procedures, policies and regulations including the code of conduct.
  • Display business ethics that uphold the interests of all our customers.
  • Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.

Education and Qualifications

  • University degree in Mathematics or related field
  • Actuarial qualification desirable

Skills and Abilities

  • General commercial and financial knowledge
  • Experience with ResQ reserving software preferable
  • Competent user of MS Excel; VBA, Access, SQL, SAS and R skills desirable
  • Strong analytical skills with attention to detail; accurate and numerate
  • Able to communicate effectively both verbally and in writing
  • Team worker as well as able to work on own initiative
  • Ability to manage time, meet deadlines and prioritise

Knowledge and Experience

  • Proven reserving experience; Lloyd's market knowledge desirable
  • Good knowledge of technical provisions for Solvency II preferred
  • Firm grasp of actuarial valuation techniques, including those used within pricing and capital modelling
  • Understanding of reinsurance and its impact on reserving

Aptitude and Disposition

  • Outcome focused, self-motivated, flexible and enthusiastic
  • Professional approach to successfully interact with team members, internal and external stakeholders


  • Achievement and solution focused
  • Analytical
  • Information seeking
  • Stakeholder focus
  • Using initiative
  • Having integrity
  • Taking responsibility
  • Being reliable
  • Attention to detail

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