Reserving Actuary

Job Title:

Reserving Actuary Reporting to:
Deputy Head of International Reserving Direct Reports :
None Position Type:
Permanent Hybrid Working arrangements :
Working in the office Monday, Wednesday & Thursday

Job Purpose:

Reporting into the Deputy Head of International Reserving to support the UK actuarial function in all aspects of the reserving process including the evaluation of Solvency II technical provisions across the International Group.

Key role requirements:
1. Supporting quarterly reviews of reserves in respect of P&C business written across TM HCC’s International Group platforms, including Financial Lines, Energy, Marine, Property, Renewables, Treaty, Accident & Health, Credit, Surety, Professional Indemnity and Liability lines.
2. Delivery of Solvency II technical provisions and related regulatory/Lloyd’s returns.
3. Leading ad-hoc deep-dive portfolio analyses and other relevant projects and feeding back insights to the wider business.
4. Identifying and leading technical and wider process enhancements to increase the efficiency and impact of existing processes.
5. Supporting periodic analysis of reserve risk to quantify and communicate the range of uncertainty around the actuarial best estimate and support the parameterization of key inputs to the internal capital model.
6. Liaising with other stakeholders across the company in a collaborative effort to improve processes and enhance the reputation of the actuarial team.

Full details of each requirement are outlined below.

Additional role expectations:

Coordinate and review analysts’ work, providing timely performance feedback and training to ensure high professional standards are met at all times.

Contribute to the growth of intellectual capital within the actuarial department through attendance and participation in professional development initiatives and events as well as sharing of specialized expertise with other members of the team.

Demonstrate accountability and forward-looking approach in execution of work, so that processes are intuitive, dynamic and scalable, with appropriate audit trails.

Skills and Experience Specification:

Education:

Bachelor’s degree in Actuarial Science, Mathematics, Statistics or related field.

Fellow of the Institute and Faculty of Actuaries (FIA), Fellow of the Casualty Actuarial Society (FCAS) or similar.

Essential:

A minimum of 3 years core reserving experience involving practical application of actuarial methods and statistical techniques used in reserving of London Market P&C lines.

Excellent written and verbal communications skills.

Commercial awareness and knowledge of industry changes, legal updates and technical developments related to applicable areas of TM HCC’s business to proactively respond to changing business environment.

Thorough knowledge of the regulatory environment, including specific responsibilities placed on the actuarial function as part of the Solvency II framework and Lloyd’s guidance for the setting of syndicate reserves.

Strong analytical skills with aptitude for detail and ability to apply advanced problem-solving skills.

Advanced proficiency and experience using Microsoft Office Package (Excel, Access, PowerPoint, Word).Programming aptitude / experience e.g. VBA, SQL, Python, R or similar.

Desirable:

Proficiency and experience working with ResQ, Psicle and Power BI.Requirements: additional information.

Supporting quarterly reviews of reserves. Work covers:

Appropriate application of actuarial loss reserving techniques and expert judgement.

Timely delivery and communication of results to management, relevant committees and heads of underwriting business units.

Involvement in drafting formal TAS compliant reports produced by the UK actuarial function.

Coordinate and review analysts’…