Assistant Reserving Actuary

Location
London (City of), London (Greater)
Salary
Competitive salary, excellent benefits & study package
Posted
07 Feb 2018
Closes
09 Mar 2018
Ref
BeazleyARA
Contract Type
Permanent

Beazley is a leading specialist insurer with three decades of experience in providing clients with the highest standards of underwriting and claims service worldwide. Our recruitment policy has always been: hire better than yourself. We are proud of the fact there are many different personalities working here. It's what makes us who we are and it makes for better decisions. At Beazley we provide our people with the motivation, training and confidence to go out and use their initiative. We don't do things by halves. Whatever your role, we look to you as a specialist. You're someone who delivers the best service and genuinely enjoys your work. So when you're with us, you can expect a friendly, open and supportive environment - and every opportunity to take your skills further. You can expect exceptional.

We are seeking an Assistant Reserving Actuary to join us in our London office. We are looking for a candidate with a solid understanding of the reserving process and experience working within a similar role within the insurance industry. Further details on the role can be found below:

Division:                      Finance - Actuarial

Reports To:                 As per Beazley’s organisation chart

Key Relationships:      Beazley actuaries, Finance, Data Management and Ceded Reinsurance teams, Claims managers, Underwriters and business managers, external actuaries/auditors.

Job Summary:             Actuarial reserving, forecasting and technical provisioning for Beazley

Key Responsibilities: 

Technical

  • Perform (as required) the quarterly reserving and trust fund valuations for Specialty Lines, Property, Marine, Treaty, PCG and Life, Accident & Health classes of business

  • Maintain evidence of valuation assumptions

  • Perform the necessary reconciliation checks to provide assurance on the valuation outputs

  • Contribute to reporting the results of actuarial valuations and analyses to the relevant stakeholders and committees

  • Work with the reserving actuaries on the calculation and communication of reserve uncertainty/ranges

  • Perform (as required) the quarterly technical provisions valuations and validations, adhering to the required standards and ensuring technical provisions deliverables are met

  • Perform (as required) the quarterly technical provisions valuations and validations, adhering to the required standards

  • Contribute to the technical provisions section of the actuarial function report

  • 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 reserving and technical provisions 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

  • Keep abreast of industry best practice, new initiatives and changes in regulatory requirements

  • Contribute to improving the valuation processes and methodologies

  • Undertake applicable professional, technical and career development training (delivered internally and externally) to include attainment of associated qualifications where required.

General

At Beazley we are committed to doing the right thing because it is the right thing to do.  It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley’s core values and behaviours – PIED and Being Beazley.  

  • Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.

  • Comply with Beazley procedures, policies and regulations including the code of conduct.  Undertake training on Beazley policies and procedures as delivered by your line manager, the Talent Management development or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.

  • 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.

  • Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Talent Management or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas.  This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.

  • Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system.  These may include membership of any Beazley committees or working groups.

Personal Specification:

Education and Qualifications

  • University degree in Mathematics or related field

  • Progressing towards an actuarial qualification

Skills and Abilities

  • General commercial and financial knowledge

  • Experience with ResQ reserving software preferable

  • Competent user of MS Excel; VBA, Access, SQL, SAS, WPS 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, work on a number of tasks in parallel, meet deadlines and prioritise

Knowledge and Experience

  • Reserving experience; Lloyd’s market knowledge desirable but not essential

  • Knowledge of technical provisions for Solvency II preferred

  • Command of basic actuarial techniques

  • Understanding of reinsurance

Aptitude and Disposition

  • Outcome focused, self-motivated, flexible and enthusiastic

  • Professional approach to successfully interact with team members and stakeholders

Competencies

  • Achievement and solution focused

  • Information seeking

  • Stakeholder focus

  • Using initiative

  • Having integrity

  • Taking responsibility

  • Being reliable

  • Attention to detail

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