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- Tasks: Join our London Market team to perform actuarial reserving and forecasting.
- Company: Beazley is a leading specialist insurer with a strong reputation in the market.
- Benefits: Enjoy flexible working options, professional development, and a collaborative culture.
- Why this job: Make an impact in a dynamic environment while developing your actuarial skills.
- Qualifications: University degree in Mathematics; progressing towards an actuarial qualification.
- Other info: Experience with ResQ software and programming skills are a plus.
The predicted salary is between 36000 - 60000 £ per year.
Actuarial reserving and forecasting for Beazley. Working within an established and experienced London Market reserving team setting provisions for our Lloyd’s, US and European entities, and engaging with a wide array of stakeholders.
Key Responsibilities
- Perform the quarterly reserving and trust fund valuations for long-tailed (Specialty Risks) classes of business.
- Undertake deep dive analysis on classes as required and maintain evidence of valuation assumptions.
- Perform the necessary reconciliation checks to provide assurance on the valuation outputs.
- Contribute to the reporting of results of actuarial valuations and analyses to the relevant stakeholders and committees.
- Work with the reserving actuaries, claims managers and underwriters on the calculation and communication of reserve uncertainty/ranges.
- Work with the Finance, Data Management and Ceded Reinsurance teams to produce and reconcile the data for the valuation processes.
- Contribute to the maintenance of reserving documentation with the required frequency, adhering to the review requirements and obtaining the appropriate sign-offs.
- Assist in projects undertaken by the actuarial team e.g. M&A, business planning analyses and the delivery of group-wide strategic projects.
- Support the work of external actuaries as required.
- Build and maintain constructive working arrangements with those groups identified as being key to your role including Finance, Claims, Underwriting and Data Management.
- Operate as an effective team member by supporting colleagues and contributing in the delivery and achievement of overall team and business objectives.
- Keep abreast of industry best practice, new initiatives and changes in regulatory requirements.
- Contribute to improving the valuation processes and methodologies.
- Undertake applicable professional, technical and career development training (delivered internally and externally) to include attainment of associated qualifications where required.
Personal Specification
- University degree in Mathematics or related field.
- Progressing towards an actuarial qualification.
Skills And Abilities
- General commercial and financial knowledge.
- Experience with ResQ reserving software preferable.
- Competent user of MS Excel; VBA, SQL, Python, R or Power BI skills desirable.
- Strong analytical skills with attention to detail; accurate and numerate.
- Able to communicate effectively both verbally and in writing.
- Team worker as well as able to work on own initiative.
- Ability to manage time, work on a number of tasks in parallel, meet deadlines and prioritise.
Knowledge and Experience
- Reserving experience; Lloyd’s market knowledge desirable.
- Command of basic actuarial techniques.
- Understanding of reinsurance.
Aptitude and Disposition
- Outcome focused, self-motivated, flexible and enthusiastic.
- Professional approach to successfully interact with team members and stakeholders.
Competencies
- Achievement and solution focused.
- Analytical.
- Information seeking.
- Stakeholder focus.
- Using initiative.
- Having integrity.
- Taking responsibility.
- Being reliable.
- Attention to detail.
Reserving Actuary employer: Beazley
Contact Detail:
Beazley Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Reserving Actuary
✨Tip Number 1
Familiarise yourself with the Lloyd's market and its specific reserving practices. Understanding the nuances of this environment will help you engage more effectively with stakeholders and demonstrate your commitment to the role.
✨Tip Number 2
Brush up on your technical skills, especially in software like ResQ, Excel, and programming languages such as Python or R. Being proficient in these tools will not only enhance your analytical capabilities but also show that you're ready to contribute from day one.
✨Tip Number 3
Network with professionals in the actuarial field, particularly those who work in reserving roles. Attend industry events or join relevant online forums to build connections that could provide insights and potentially lead to referrals.
✨Tip Number 4
Stay updated on industry best practices and regulatory changes. This knowledge will not only prepare you for interviews but also demonstrate your proactive approach to professional development and your commitment to the actuarial profession.
We think you need these skills to ace Reserving Actuary
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in actuarial reserving and forecasting. Emphasise any work with long-tailed classes of business and your familiarity with the Lloyd's market.
Craft a Strong Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Mention specific skills such as your proficiency in MS Excel, ResQ software, or programming languages like Python or R that are relevant to the position.
Showcase Analytical Skills: Provide examples in your application that demonstrate your strong analytical skills and attention to detail. Discuss any past projects where you performed deep dive analyses or reconciliations.
Highlight Teamwork and Communication: Since the role involves engaging with various stakeholders, illustrate your ability to work effectively in teams and communicate complex information clearly, both verbally and in writing.
How to prepare for a job interview at Beazley
✨Showcase Your Analytical Skills
As a Reserving Actuary, strong analytical skills are crucial. Be prepared to discuss specific examples of how you've used data analysis in previous roles, particularly in relation to reserving or forecasting. Highlight your attention to detail and accuracy.
✨Familiarise Yourself with Industry Practices
Stay updated on the latest trends and best practices in the actuarial field, especially within the Lloyd's market. Demonstrating knowledge of current regulatory changes and industry initiatives can set you apart from other candidates.
✨Prepare for Technical Questions
Expect technical questions related to actuarial techniques and software, such as ResQ or MS Excel. Brush up on your knowledge of these tools and be ready to explain how you've applied them in your work.
✨Emphasise Team Collaboration
This role requires effective collaboration with various stakeholders. Share examples of how you've successfully worked in teams, supported colleagues, and contributed to achieving team objectives. Highlight your communication skills and ability to build relationships.
