Actuarial Analyst- London- Competitive Salary
Charles Taylor plc is a global leading provider of professional services to the insurance industry. The group manages mutual insurance companies, provides specialist loss adjusting services, has recently set up a Lloyd’s Managing Agency and syndicate and is a provider of a diverse range of outsourced management and technical insurance services for the global market. Charles Taylor currently employs over 1900 staff working in over 71 offices in 28 countries worldwide. With approximately 1100 staff employed in the UK.
In April 2015 we launched Charles Taylor Managing Agency Ltd (CTMA), a Lloyd’s managing agent that currently manages the Standard Syndicate 1884. The Syndicate underwrites marine and offshore energy business and has ambitious growth plans. Likewise, CTMA's strategy is to extend its syndicate management capability to further new Lloyd's start-ups. This will supplement the few managing agents that currently focus on turn-key management. This is an exciting new initiative for us and we have been running large recruitment campaigns to secure our new team in place.
CTMA are recruiting for anexperienced, part qualified, Actuarial Analyst who can support the Actuarial team with tasks as necessitated by Solvency II compliance and the running of CTMA.
- Supporting the Chief Actuary (CA) and Internal Capital Model (ICM) manager in providing the Actuarial Function to the business
- Support and development of the quarterly reserving process, including technical provisions as required under Solvency II
- Supporting the ongoing development of the ICM under the day to day guidance of the ICM manager
- 1. Reserving (50%)
- Operate the data extraction processes for premiums, claims and reinsurance information for use in reserve modelling
- Update the reserve models and reserve exhibits on a timely basis to help the management decide on reserve levels
- Allocate reserves to Solvency II class, Situs Fund, sub-class as necessitated by reporting requirements
- Assist in development actual vs expected reserve run-off analyses.
- Assist in computing reinsurance recovery reserves
- Calculate insurance cash-flows
- Update Solvency II technical provisions models.
- Assist in liaising with third party stakeholders such as auditors, independent actuaries and Lloyd’s actuarial department
- 2. Internal model (50%)
- Assist the capital model manager in maintaining, parameterising, running and enhancing the ICM
- Analyse historical syndicate and market data to develop model parameters and calibrate inputs to the ICM
- Assist the CA and ICM manager in supporting the ICM validation process.
- Use the model to assist with capital calculations, business planning and evaluating the costs / benefits of reinsurance.
- 3. Pricing
- Dependant on the development of efficiencies in the Actuarial Function, there is the possibility that the successful candidate will be utilised to assist the Syndicate Pricing Actuary in supporting pricing model development and enhancement
- Graduate with a 2:1 degree with significant mathematical content
- Experience of working within a Lloyd's of London actuarial function
- Proficient in use of Excel and macros
- Confident in use of IT
- Education or experience in actuarial or insurance matters, particularly Lloyd’s of London, would be an advantage
- You will be someone with some years’ experience in the Lloyd’s market, and embarking on your actuarial exams
Please note, Charles Taylor will sponsor successful candidates to complete their actuarial exams
Why Charles Taylor Managing Agency?
This is an exciting time to join Charles Taylor Managing Agency’s actuarial function. Our new Chief Actuary has recently joined the business and this appointment will be one of the first in building a brand-new team. As the successful candidate you will support the Chief Actuary in defining the ICM and team processes. Furthermore, CTMA's strategy is to extend its syndicate management capability to further new Lloyd's start-ups. This will supplement the few managing agents that currently focus on turn-key management and our new actuarial function will be a key part of this.
We are very proud of the fact that nine out of ten of our people recommend Charles Taylor as a place to work. We pride ourselves on having a positive work environment where our people are empowered to make the best decisions and where learning is valued highly and shared across our business.
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