At a Glance
- Tasks: Support risk governance by reviewing reserves and pricing models in a dynamic team.
- Company: Join a leading insurer with a global presence and innovative approach.
- Benefits: Enjoy health benefits, financial security, and professional development opportunities.
- Other info: Collaborative environment with opportunities to influence key decisions.
- Why this job: Make an impact on risk frameworks and enhance your analytical skills.
- Qualifications: Degree in Mathematics and experience in actuarial or risk management required.
The predicted salary is between 56700 - 69300 £ per year.
In this role you will contribute to risk governance by supporting independent reviews of reserves and pricing models across property and casualty lines. You will work with cross-functional teams to challenge model assumptions, enhance data quality, and communicate findings to boards and risk committees. You’ll stay abreast of reserving methodologies and contribute to enterprise risk management through scenario analysis and governance reporting. This position offers exposure to global operations and the chance to shape risk frameworks in a leading insurer.
Pay / Benefits
- Total Rewards Program
- Health and wellbeing benefits
- Financial security focus
- Professional development opportunities
Responsibilities
- Assist in independent review of selected AIG policyholder liabilities
- Review claims and premium data quality for property and casualty lines
- Build benchmark reserving models and design statistical tests to challenge reserving model assumptions
- Keep up with industry trends on reserving methodologies and acquire external data to support Reserve Analysis
- Support documentation of views to local Boards/Committees and risk governance bodies
- Assist in independent review for high-priority Pricing and Underwriting Models
- Collaborate with pricing actuaries and modelers during review processes
- Identify high-risk models requiring ERM review under Model Risk Management Policy
- Prepare reports on independent review results to support governance
- Communicate model review findings to Enterprise Risk Management and key stakeholders
- Work with actuarial, claims, underwriting, and economics teams to quantify emerging risks and market shocks
- Support technical review of non-actuarial models when requested
Key requirements
- Degree in Mathematics or related discipline
- Significant actuarial and/or risk management experience, preferably in P&C (re)insurance or relevant consulting background
- Strong analytical skills and knowledge of risk drivers and the insurance market
- Ability to build proactive relationships with stakeholders and influence decisions
- Proven ability to maintain an independent perspective and challenge risk-related decisions
- Ability to communicate complex matters clearly and simply
- Strong communication
- Stakeholder management
- Influencing and change management
- Actuarial modeling
- Reserving methodology knowledge
- Model risk management and governance
Actuary - Risk Management employer: American International Group (AIG)
AIG is an exceptional employer, offering a dynamic work environment in London where collaboration and innovation thrive. As part of our Global Legal, Compliance and Regulatory team, you will receive comprehensive benefits that prioritise your health, wellbeing, and professional development, all while contributing to meaningful projects that impact the insurance landscape. Our inclusive culture celebrates diversity and fosters growth, ensuring that every employee feels valued and empowered to reach their full potential.
Contact Details:
American International Group (AIG) Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Actuary - Risk Management
✨Dive Into Industry Networking Events
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We think you need these skills to ace Actuary - Risk Management
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at American International Group (AIG).
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at American International Group (AIG). Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at American International Group (AIG)
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at American International Group (AIG) to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at American International Group (AIG), they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding American International Group (AIG)'s values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
