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Actuarial Analyst

Actuarial Analyst

Job Title: Actuarial Analyst
Contract Type: Permanent
Location: Surrey
Industry:
Salary: Up to £40,000 approximate
Reference: LLBA/61910
Contact Name: Lloyd Balfour
Contact Email: L.Balfour@darwinrhodes.com
Job Published: November 07, 2016 13:43

Job Description

The Actuarial Function’s key responsibilities concern the fulfilment of the regulatory requirements of the function under Solvency II in conjunction with other activities whilst at all times seeking to enhance business performance through actuarial insight and analysis.

This role of Actuarial Analyst is to provide support to the Actuarial team in the fulfilment of these responsibilities.

The Actuarial Analyst can expect to be involved in aspects of work concerning the following areas; the nature of which will be determined by the requirements of the function and the Actuarial Analyst’s skills and experience:

Reserving

  • The undertaking of internal reserve reviews across the Motor and Home portfolios to produce an IFRS best estimate.
  • The undertaking of reserve variability assessments.
  • The production of Solvency 2 technical provision assessments.
  • The reporting of the above to internal parties including Reserve and Audit Committees and the production of formal Actuarial Reports.
  • The development of process and methodology to seek to improve the efficiency, accuracy and communication of reserving outcomes.

Actuarial Opinions

  • The provision of Actuarial opinions on Underwriting and Reinsurance, working with other areas of the business as appropriate to inform these opinions.

Capital

  • The provision of support to the Risk function, in particular concerning the quantification of risk through Solvency II Internal model and Standard formula.
  • To provide support to the Risk function in the production of the ORSA and the Regulatory reporting function in terms of reporting of Actuarial components of regulatory reporting.

Business Performance

  • Through working with the business seek to bring actuarial insight to the forefront of business decision making with the aim of demonstrably improving business performance.
  • Supporting the Finance function with business planning and forecasting.
  • The development and enhancement of Management Information reporting in the context of the Actuarial Function whilst considering wider business use of such information.

Business liaison

  • The Actuarial Function maintains strong and effective relationships throughout the business.The communication of the outputs of the Actuarial Function in particular needs to be clear and informative and cater for the audience’s level of technical knowledge.

Actuarial Function governance

The application of appropriate governance frameworks and processes for the Actuarial Function, in particular data governance and risk management

  • Student Actuary with 2 to 4 years of experience, ideally within general insurance
  • Good progression towards actuarial qualification with progress made in the CT exams.
  • Good first degree (first or upper second) or equivalent with substantial mathematical/statistical content.
  • Knowledge of general insurance company operations including risk, finance, reinsurance, claims, underwriting.
  • Self-starter, with effective problem solving abilities and attention to detail.
  • Experience of ResQ and SAS beneficial but not compulsory.
  • Highly computer literate (MS Office, Management Information tools).
  • Strong Excel model building skills (VBA coding experience beneficial but not compulsory).
  • The candidate must be well organised and have a logical approach, with attention to detail and excellent communication skills, specifically including the ability to explain complex concepts to non-technical audiences.
  • Strong teamwork and enthusiastic approach.
  • Excellent communication skills in order to relay work outcomes to business stakeholders.

 

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