Mixed Actuarial Analyst
Are you a part qualified Actuary looking to expand your knowledge and experience across Reserving, Pricing and Capital Modelling?
A fantastic opportunity has arisen with a well-regarded Lloyd's insurer who's staff retention is second to none for a part qualified Actuary to join their team as a Mixed Actuarial Analyst.
Role of Department
- Provide Actuarial support to the Commercial Financial and Professional Liability Lines (“FinPro”) Underwriting Divisions and produce analysis for the Senior and Executive Management. The FinPro Division is part of the Commercial Pillar which also includes the other Casualty Lines and Non-Lloyd’s Property (“P&C”) business.
- Part-qualified Actuary, making good progress with the Actuarial examinations.
- One to three years’ relevant work experience in the general insurance, reinsurance or consultancy field. Direct experience in the above lines of business useful but not essential.
- Requires educational attainments
- Advanced MS Excel skills and strong working knowledge of common database software (SQL, MS Access) as a minimum and the opportunity to apply and/or learn coding skills (eg VBA, R, Python).
- Strong interpersonal, verbal and written skills, communicating with a range of internal and external clients of varying experience, expertise and appreciation of actuarial techniques.
- Supporting the Commercial Team Actuaries with provision of the detailed analysis, results drafting and presentation in respect of their key Divisional responsibilities as listed below.
- Data preparation and draft projections for large individual account pricing, MGA portfolio monitoring and new business due diligence.
- Support and development of underwriter exposure rating tools and data capture, including IT platforming solutions.
- Provision of monthly renewal rate monitoring and rate adequacy information.
- Regular interaction with FinPro underwriters in all these aspects.
Capital Model and Business Plan Parameterisation
- Premium risk parameterisation of claims frequency and severity distributions.
- Providing Capital Model inputs and outputs for Actuarial team validation.
- Draft parameterisation of the quarterly reserving process including review and update of development pattern selection for presentation and discussion with Senior Actuaries.
- Data preparation and draft analysis for ad-hoc “deep dive” portfolio segmentation and historic performance.
- Development of market benchmark development patterns.
Reporting Lines and Management Responsibilities
- Reports in to Senior Managing Actuary, FinPro, supporting other Qualified Actuaries within Divisional team.
- Line of business covered are Commercial and Financial Institutions Professional Indemnity (E&O), Directors & Officers (D&O) liability, Fidelity (financial fraud), Cyber, Surety and Legal Indemnity. Markets cover UK, Continental Europe, Dubai, Australia and New Zealand under both Company and Lloyd’s license. Business is placed in both the open market and through delegated authority, including being lead Casualty capacity provider to DUAL, one of the London Market’s largest MGAs.
- There is the expectation that Product and/or Functional the remit of this role may change beyond the short term as the Actuarial team structure continues to evolve to meet the needs of our business.
- Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to commitment to placing customers at the centre of our business and behaving with integrity.
- They expect you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.
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