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- Tasks: Join our team as a Reserving Technical Analyst, managing the quarterly reserving process and enhancing our systems.
- Company: Sompo International is a global leader in insurance and reinsurance, committed to innovation and employee experience.
- Benefits: Enjoy flexible working options, generous health benefits, and inclusive parental leave policies.
- Why this job: Be part of a collaborative culture that values diversity and drives innovation in the insurance industry.
- Qualifications: Bachelor’s or Master’s in Actuarial Science, Mathematics, or related field; strong SQL skills required.
- Other info: Opportunity to work with cutting-edge technology and contribute to meaningful projects.
The predicted salary is between 36000 - 60000 ÂŁ per year.
As a leading provider of insurance and reinsurance with worldwide operations, we recognise that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.
Are you looking for your next opportunity? Sompo has a unique opportunity for a Reserving Technical Analyst in our Reserving Technical Team. We are seeking a highly motivated Reserving Technical Analyst to join the Reserving Technical team at Sompo International. Under the supervision of the Reserving Technical Manager and working within the wider Reserving Function, you will help to lead the execution of the quarterly reserving process from end-to-end – applying robust controls to ensure high quality processes from the data input stage through to producing best practice reserve calculation outputs. Our reserving process is centred around a market-leading in-house bespoke reserving platform, the Sompo Reserve Platform (“SRP”), and ResQ reserving software. You will also support our regulatory compliance deliverables. Furthermore, you will have an exciting opportunity to collaborate within the team and across departments to drive the continuing enhancement of our systems so that we continue to be at the forefront of market best practice, technology, and innovation.
Location: This position will be based out of our London office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.
What you’ll be doing:
- Reserving Technical Function
- Contribute to enhancing the design, development, and maintenance of our in-house Sompo Reserving Platform reserving system, control network and tools.
- Collaborate with actuaries to maintain, enhance, and implement robust reserving methodologies.
- Own and develop the Sompo Reserving ResQ Project, including quarterly roll-forwards and checks, optimising segmentation, and hosting ResQ working party to drive continuous enhancements.
- Quarterly Technical Reserving Process
- Work within the Reserving Technical team to manage, validate and compile the data sets used in the reserving process.
- Ensure that data and process queries and issues are duly recorded, effectively resolved, and clearly communicated, liaising with IT and other functions as needed.
- Work with the Reserving Function to refine reserving segmentations and update reserving parameters as required.
- Work with the Finance and Ceded Re Departments to execute and improve a robust process for incorporating manual data inputs into the reserving system.
- Run the central data reconciliation and quality control process for the SRP.
- Produce, improve, and reconcile a range of core and regulatory (including Solvency II) reports to support the reserving process, in SQL, Excel and PowerBI.
- Take ownership for the successful completion of all tasks assigned to you in the Quarterly Workflow.
- Effectively communicate progress, risks, and issues to the Reserving Technical Manager and key stakeholders.
- Independently lead responses to queries from stakeholders, internal and external auditors for your areas of responsibility and assist the Technical team more widely in this area.
- Off Quarter Projects and Development
- Suggest and help to implement projects that continuously improve the overall effectiveness and quality of Sompo’s technical infrastructure as well as our day-to-day reserving methods and control processes.
- Develop relationships across the wider organization to address any difficulties with data inputs provided to Technical Reserving; and to ensure continuous improvements in stakeholder satisfaction with our outputs.
What you’ll bring:
- Bachelor’s or Master’s degree in Actuarial Science, Computer Science, Mathematics, Statistics, or a related field.
- Relevant experience in P&C insurance reserving, with a strong focus on data management and system development.
- Strong programming skill in SQL.
- Experience, or an aptitude for learning, VBA, ResQ and PowerBI.
- Be approachable to a range of stakeholders and flexible to work under time pressure to business needs, particularly around quarter end close deadlines.
- Proven experience with ETL, data warehousing, version control, and wider data controls.
- Excellent analytical and problem-solving skills, with the ability to interpret complex data sets and debug complex SQL stored procedures.
- Highly organised with the ability to work autonomously, think critically and independently with a strong commitment to quality control.
- Strong communication and interpersonal skills, with the ability to effectively communicate technical information to both technical and non-technical audiences.
- Ability and willingness to learn new technologies, coding languages etc. as required by the evolution of the reserve platform.
Our Benefits
We continuously evaluate and update our benefit programs to ensure that our plans meet the needs of our employees and their dependents. Below are a few highlights of our inclusive benefit programs:
- Expansive Health & Wellness Benefits
- Generous Retirement & Savings Plans
- Global Parental Leave & Adoption Assistance
In today’s world, what do we stand for? We strive to create exceptional value for our clients and shareholders while maintaining Sompo as an attractive place to work. We foster an environment of ongoing, open dialogue between managers and their direct reports, and believe in an organizational environment where everyone belongs. We proudly are a multi-racial, multi-cultural, global enterprise. We reject all forms of racism, bigotry, prejudice and injustice and continue to invest in building out an inclusive and diverse work environment.
About Us
We’re Sompo, a global provider of property, casualty, and specialty insurance and reinsurance. Building on Sompo Holdings’ 130 years of innovation, we’re committed to applying all of our experience to simplify yours. Our dedication to you shows up in the care we put in every detail, working to create a frictionless risk management journey for everyone we serve. Our 9,000+ employees use their expertise to learn, improve and find clear answers for your complex challenges.
Reserving Technical Analyst employer: Sompo International
Contact Detail:
Sompo International Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Reserving Technical Analyst
✨Tip Number 1
Familiarise yourself with the Sompo Reserve Platform and ResQ software. Understanding these tools will not only help you during the interview but also demonstrate your proactive approach and genuine interest in the role.
✨Tip Number 2
Network with current or former employees of Sompo International on platforms like LinkedIn. Engaging with them can provide valuable insights into the company culture and expectations, which can be beneficial during your discussions.
✨Tip Number 3
Brush up on your SQL skills and be prepared to discuss specific projects where you've used data management techniques. Being able to articulate your experience with complex data sets will set you apart from other candidates.
✨Tip Number 4
Stay updated on industry trends in insurance and reinsurance, particularly around reserving methodologies. Showing that you are knowledgeable about current practices will highlight your commitment to the field and your readiness for the role.
We think you need these skills to ace Reserving Technical Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in P&C insurance reserving, data management, and system development. Use keywords from the job description to demonstrate that you meet the specific requirements.
Craft a Strong Cover Letter: Write a cover letter that showcases your motivation for applying to Sompo International. Mention how your skills in SQL, data analysis, and collaboration align with the role of Reserving Technical Analyst.
Showcase Your Technical Skills: In your application, emphasise your programming skills, particularly in SQL, and any experience with tools like ResQ and PowerBI. Provide examples of how you've used these skills in previous roles.
Highlight Soft Skills: Don't forget to mention your communication and interpersonal skills. The role requires effective communication with both technical and non-technical stakeholders, so provide examples of how you've successfully navigated similar situations.
How to prepare for a job interview at Sompo International
✨Understand the Reserving Process
Make sure you have a solid grasp of the reserving process, especially how it applies to the insurance industry. Familiarise yourself with the quarterly reserving cycle and the importance of data accuracy in producing reserve calculations.
✨Showcase Your Technical Skills
Be prepared to discuss your programming skills, particularly in SQL, and any experience you have with tools like ResQ and PowerBI. Highlight specific projects where you've used these skills to solve problems or improve processes.
✨Demonstrate Collaboration Abilities
Since the role involves working closely with actuaries and other departments, be ready to share examples of how you've successfully collaborated in past roles. Emphasise your communication skills and ability to work under pressure, especially around quarter-end deadlines.
✨Prepare for Problem-Solving Questions
Expect questions that assess your analytical and problem-solving abilities. Think of complex data sets you've worked with and how you approached debugging or improving them. Be ready to explain your thought process clearly.
