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)

General

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

Competencies

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