Actuary Regulatory Reserving

Job Description Sompo has a unique opportunity for an Actuary – UK Regulatory Reserving in our UK Actuarial Function.

The purpose of the Actuary is to support the Head of UK Regulatory Reserving across the Sompo UK business. Reporting to the Head of UK Regulatory Reserving and working closely with the wider UK Actuarial Function this role will contribute to the production, analysis, and communication of the SII Technical Provisions.

Location:

This position will be based out of our London Leadenhall St office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.  Our business, your impact, our opportunity:

What you’ll be doing :

Support the Calculation, Validation and Communication of UK Solvency II Technical Provisions for UK Entities (EWIL, SIIE, AIUK and AMAL). Standard Formula and Cashflow Production.

Internal Model Technical Provisions calculations.

Appropriate Data Validations, Controls and Reconciliations.

Monitoring and Back Testing of assumptions and methodologies over time Assist in the production of Actuarial Function Reports and other regulatory reporting requirements relating to Technical Provisions. Produce Management Information, analysis, and commentary to support the understanding of reserving movements, emerging trends, and business performance.

Support UK Actuarial Function Governance with regards to Quarterly GAAP Reserving, as part of the oversight and review of the central team analysis and outcomes. Contribute to process improvements initiatives, automation opportunities and enhancements of reserving and regulatory requirements. Support broader UK Actuarial Function initiatives, which could include input to Business Planning, Capital considerations, and contributions to the UK Risk Management Framework.

Develop technical actuarial expertise and maintain awareness of relevant regulatory development and industry practice

What you’ll bring: A newly or nearly qualified Actuary with strong actuarial and analytical background with good knowledge of General Insurance Reserving principles and Solvency II requirements.

Strong analytical and problem-solving skills with experience of data analysis. Strong communication skills with the ability to explain technical concepts to a range of stakeholders. Ability to manage multiple deliverables at the same time whilst maintaining high-quality standards. Strong collaboration and teamwork and ability to work effectively across actuarial, finance and business teams.

Experience of actuarial software, data tools, and reporting tools. At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees. Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company under performs.  

The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.  We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents.
Below is a summary of some of the benefits we offer, which may vary depending on the country:
Health & Wellness Benefits Retirement & Savings Plans Global Parental Leave & Adoption Assistance Employee Assistance Program Tuition Reimbursement & Professional Qualification benefits Who we are and what we stand for:
At Sompo, our…