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Actuarial Manager

London, England
Closing date
24 Mar 2023

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General insurance
Contract Type
Full Time

About us

Avencia is the onsite recruitment partner of Convex. They're an international speciality insurer and reinsurer with offices in London, Bermuda, Luxembourg and Guernsey. They have brought together some of the best, brightest and most experienced re/insurance people to create an organisation built around the needs of their clients, not themselves. They are focused on creating a positive environment where all learn, grow, have fun and do great work with people they like, trust and respect. They live our values in every facet of the business.

They firmly believe their culture gives them a competitive advantage. They recognise that individuals with different backgrounds, perspectives and experiences are what makes them special. Through their values, day-to-day actions and their partnerships, they go beyond 'Diversity and Inclusion', to ensure that a genuine and universal feeling of Belonging is part of our their culture.

The role

The Actuarial Function (Defence) sits under the Group CFO who has responsibility for the Actuarial, Data and Finance team. Actuarial's purpose is to improve risk-based decision making of the Underwriting teams and thereby influence the successful delivery of the underwriting business plan. The team achieves this by working closely with the Portfolio Optimisation (PO) (Offence), Underwriting and Finance teams in supporting the business with Actuarial oversight and insights through data analytics as well as fulfilling regulatory reporting requirements. The PO and Actuarial teams operate an offensive and defensive strategy which allows creative thinking and new ways of working to create a truly data lead insurance business.

Key accountabilities

Supporting the Actuarial Directors with:

  • implementing the defensive strategy
  • influencing the build of the infrastructure, tools and reporting to opine on the
    appropriateness of underwriting, reinsurance, technical provisions, and risk
  • leading in the strategic use and development of data (both internal and
    external) to gain insight that shapes future strategy and, collaborating with
    Underwriting and PO to navigate these and deliver consistent, market-beating
  • Responsible for ensuring the Reserving parameters represent the risk Convex takes and are part of a consistent technical view of Risk across Convex
  • Engagement with the business to ensure that analysis has a commercial lens and
    analysis is well understood and communicated
  • Contribute to the design and build of the Reserving transformation project. We are coming to the end of Phase 1 which provides us with a diagnostic, data-led Reserving model.
  • Phase 2 will give Convex a market leading, largely automated Reserving process allowing us to reserve in a day and produce high quality analysis to improve business outcomes
  • Working closely with the offshore Centre of Excellence to ensure the model and process reflects the design, methodology and outcomes you require
  • Managing a small team to deliver the above
  • Continuous learning so Convex can remain market-leading in providing insight from data using the most appropriate techniques

Skills & experience

  • Nearly / Newly Qualified Actuary
  • Good (re)insurance industry experience, with a focus on commercial lines
  • Reserving experience
  • A team player with an enjoyment for getting stuck into the numbers
  • Exceptional quantitative and qualitative analysis skills
  • Proven ability to work with speed and accuracy, and pick up new concepts quickly
  • Strong verbal and written communication skills


Benefits include:

  • 30 days Annual Leave
  • Birthday Leave
  • 10% Employer Pension Contribution
  • Private Health Insurance Medical Cover
  • Life Assurance Cover
  • Annual Health Check
  • 3 days of Volunteer Leave each year
  • 10 days of help with care (elder/ childcare) through Bright Horizons
  • Give as You Earn
  • Cycle to Work
  • Season Ticket Loan

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