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Senior Actuarial Reserving Analyst
- Hampshire, Hampshire
- £40,000 - £55,000 per annum, negotiable
- 2 applications
- Job type: Permanent, full-time
- Date:
- Reference: 21114261
Organisation Description
The Actuarial Department is responsible for the production and analysis of statistics and the development of new actuarial and statistical systems and concepts, helping to facilitate the reserving, pricing, capital, monitoring and forecasting of the company’s lines of business, and ensuring we comply with all relevant FSA regulations.
The job holder, is a senior analyst within the Actuarial Team, and will assist the Actuarial Reserving and Capital Manager with the reserving analysis across the various lines of business. There will be some opportunity to specialize depending on the job holders expertise and experience.
Job Description
Assist the Actuarial Reserving and Capital Manager to ensure appropriate actuarial reserving methodologies are maintained for the estimation of appropriate levels of IBNR, and analysis in the uncertainty around the central estimate.
Assist the Actuarial Reserving and Capital Manager to ensure production of analysis of claims performance, identifying trends and features, producing claims projection models. This includes the interpretation and communication of suitable recommendations from the analysis to Senior Management.
Assist the Actuarial Reserving and Capital Manager to ensure production of the analysis of large claim experience to assist in the financial / strategic reinsurance decision making process.
Assist the Actuarial Reserving and Capital Manager to ensure production of the analysis to support ad-hoc projects, including interpretation of data together with concise recommendations.
Assist the Actuarial Reserving and Capital Manager in the maintaining and upgrading of the existing actuarial and statistical models, and to research, develop and implement of new actuarial and statistical models.
Assist with the proactive use of data available and wider insurance business awareness to support the underwriting and claim functions in identifying areas of interest.
Lead, motivate, develop and mentor “Actuarial Analysts” and “Actuarial Trainees”, as appropriate.
The accountabilities will be spread across the senior members of the Actuarial Department with each member of the department having a different mix of these accountabilities, agreed in consultation with the Head of Actuarial. Where appropriate the “Senior Actuarial Reserving Analyst” will be expected to manage both the project and resources to ensure that the project objectives are met to the required quality and agreed deadlines. Where required, the “Senior Actuarial Reserving Analyst” will ensure that the results of the analysis are signed off by the Actuarial Reserving and Capital Manager.
Person Specification
Numeric:
A high level of numeracy is required, to degree level in a numeric discipline or equivalent experience
Problem Solving:
A high level of problem solving ability is required, both logically and laterally, along with an ability to engage in research. The jobholder should be able to identify, investigate and interpret the results of an analysis, considering past the more obvious first order effects
Communication Skills:
A high level of both written and spoken communication skills is required, as well as the ability to present difficult concepts in a simple understandable way to Senior Management
Modelling Skills:
A high level of understanding of modern actuarial and statistical modeling techniques is essential
Essential knowledge:
The role requires a high level of IT technical skills in turning data into information through manipulation and analysis. As such, the ability to adopt and use new software is very important
Specialist knowledge of the following is essential:
(a) ResQ, which is the actuarial claims reserving software used by the department
(b) Database packages, for example, Access or SAS
(c) Microsoft Office and the development of macro driven application systems
(d) Understanding of the claims behaviour for motor, household, commercial and travel insurance businesses
Experience:
A proven track record of working in a personal lines or commercial lines reserving role, or equivalent experience
Qualifications:
Degree level Mathematics/Statistics (2:1 or above), or equivalent
Good progress with the actuarial exams, or equivalent
Reed Specialist Recruitment Limited is an employment agency and employment business
The Actuarial Department is responsible for the production and analysis of statistics and the development of new actuarial and statistical systems and concepts, helping to facilitate the reserving, pricing, capital, monitoring and forecasting of the company’s lines of business, and ensuring we comply with all relevant FSA regulations.
The job holder, is a senior analyst within the Actuarial Team, and will assist the Actuarial Reserving and Capital Manager with the reserving analysis across the various lines of business. There will be some opportunity to specialize depending on the job holders expertise and experience.
Job Description
Assist the Actuarial Reserving and Capital Manager to ensure appropriate actuarial reserving methodologies are maintained for the estimation of appropriate levels of IBNR, and analysis in the uncertainty around the central estimate.
Assist the Actuarial Reserving and Capital Manager to ensure production of analysis of claims performance, identifying trends and features, producing claims projection models. This includes the interpretation and communication of suitable recommendations from the analysis to Senior Management.
Assist the Actuarial Reserving and Capital Manager to ensure production of the analysis of large claim experience to assist in the financial / strategic reinsurance decision making process.
Assist the Actuarial Reserving and Capital Manager to ensure production of the analysis to support ad-hoc projects, including interpretation of data together with concise recommendations.
Assist the Actuarial Reserving and Capital Manager in the maintaining and upgrading of the existing actuarial and statistical models, and to research, develop and implement of new actuarial and statistical models.
Assist with the proactive use of data available and wider insurance business awareness to support the underwriting and claim functions in identifying areas of interest.
Lead, motivate, develop and mentor “Actuarial Analysts” and “Actuarial Trainees”, as appropriate.
The accountabilities will be spread across the senior members of the Actuarial Department with each member of the department having a different mix of these accountabilities, agreed in consultation with the Head of Actuarial. Where appropriate the “Senior Actuarial Reserving Analyst” will be expected to manage both the project and resources to ensure that the project objectives are met to the required quality and agreed deadlines. Where required, the “Senior Actuarial Reserving Analyst” will ensure that the results of the analysis are signed off by the Actuarial Reserving and Capital Manager.
Person Specification
Numeric:
A high level of numeracy is required, to degree level in a numeric discipline or equivalent experience
Problem Solving:
A high level of problem solving ability is required, both logically and laterally, along with an ability to engage in research. The jobholder should be able to identify, investigate and interpret the results of an analysis, considering past the more obvious first order effects
Communication Skills:
A high level of both written and spoken communication skills is required, as well as the ability to present difficult concepts in a simple understandable way to Senior Management
Modelling Skills:
A high level of understanding of modern actuarial and statistical modeling techniques is essential
Essential knowledge:
The role requires a high level of IT technical skills in turning data into information through manipulation and analysis. As such, the ability to adopt and use new software is very important
Specialist knowledge of the following is essential:
(a) ResQ, which is the actuarial claims reserving software used by the department
(b) Database packages, for example, Access or SAS
(c) Microsoft Office and the development of macro driven application systems
(d) Understanding of the claims behaviour for motor, household, commercial and travel insurance businesses
Experience:
A proven track record of working in a personal lines or commercial lines reserving role, or equivalent experience
Qualifications:
Degree level Mathematics/Statistics (2:1 or above), or equivalent
Good progress with the actuarial exams, or equivalent
Reed Specialist Recruitment Limited is an employment agency and employment business
