AVP, Corporate Reserving Actuary in London

About us

Since Aspen was founded in 2002, we have become a leading, diversified specialty insurance and reinsurance company. We respond thoughtfully and creatively to find the best outcomes for our clients and business partners through carefully-tailored solutions.

We believe the way we work is just as important as the work we do, and we are guided by our core values of respect, honesty, trust and professionalism.

Aspen is a great place to develop your career offering an exciting and challenging environment where achievement is rewarded.

The role

• To manage and provide direction to others, so that actuarial services provided within the entity are in line with the actuarial business plan and broader strategic objectives within Aspen.
• To actively achieve solutions for complex technical challenges by leading the development, enhancements, maintenance and ensuring corporate and actuarial governance standards are met, with the goal of implementing activities or approaches that meet actuarial standards and support achieving plan loss ratios and profitability as well as Aspen as a whole.
• The role requires the ability to interact with Underwriting to secure their buy-in and the ability to apply knowledge and insights concerning actuarial pricing techniques, technology, programming knowledge.

Our Aspen Values are expected to be reflected in the delivery and performance of every role.

Key accountabilities

Specific accountabilities assigned to the role of Corporate Reserving Actuary within the global actuarial function:

• Partner with the UK Chief Actuary and other members of the senior leadership team in the delivery of accurate management information and reporting for the UK entities (Aspen Insurance UK and Syndicate 4711), applying market insights and critical judgement to the process:
  • Lead the Technical Provisions work as well as other Solvency 2 reporting requirements. This will potentially involve consideration of entities outside of the UK.
  • Support the Lloyd’s reporting requirements for the Syndicate 4711 as well as responses to requests from the PRA.
  • Development of Management Information to enhance exec and board understanding of key actuarial insights across the relevant UK management committees in respect of all aspects of the Actuarial Function.
  • Review and challenge of the results from the annual external reserve review in respect of the UK entities.

• Effectively collaborate with the relevant business functions (to include but not limited to actuarial reserving, actuarial pricing, underwriting, claims, finance) in the integration of process improvements and recommendations that are fit for purpose arising from the various internal committees (to include but not limited to Change Board, Reserving Committee, Board, and Audit Committee).
• Preparation of the Actuarial Function Holder reports for the UK Entities (covering Technical Provisions, Underwriting Policy and RI Adequacy).
• Provide input and oversight in actuarial projects arising from the recommendations of the Actuarial function.
• Collaborate with pricing and reserving to strengthen the feedback loop between the teams.
• Review and challenge of the UK entity reserving results as part of the global reserving review.
• Understand and be able to effectively articulate the legal and regulatory demands that impact the actuarial team, and the broader business, to contribute to decision making with regards to technical actuarial issues, risk appetite and underwriting strategy.
• Support mentoring and development initiatives to strengthen team capabilities, build functional expertise and foster a collaborative, values-driven team culture.

Skills & experience

Knowledge

• Expert skills in actuarial analysis and modelling, project management and communication
• Strong technical experience with data manipulation
• Established knowledge of actuarial techniques used for pricing and/or reserving insurance
• Proficient user of simulation techniques and other actuarial techniques used for pricing loss sensitive product features
• Good understanding of financial services industry best practice in actuarial analysis, modelling, and underwriting
• Good understanding of compliance issues

Skills

• Effective communication
• Ability to persuade and influence both directly and indirectly
• Ability to manage people and other resources effectively
• Ability to produce detailed reports at various levels
• Expert user in Excel and other analytical tools.
• Ability to conceptualise and lead others in their use for solving specific problems
• Excellent in the use and interpretation of numerical data
• Ability to organize work to meet deadlines
• Ability to work within defined procedures as recommended by functional teams

Experience

• Qualified Actuary (preferably Fellow of) accredited by Institute of Actuaries or equivalent body
• Extensive experience in corporate or consulting environment, the majority in general insurance
• Extensive general experience in insurance industry involving data/analysis/systems/projects
• Preferred area of studies in a field where analytical and problem solving skills are fundamental and clear written and verbal communication skills were encouraged

Other

Desirable personal attributes aligned to what success looks like in the role:

• Independent challenger - ability to innovate and challenge, utilising consultative questioning, current norms to drive change within the global actuarial function, and work with people of varying backgrounds and organisational levels
• Knowledgeable practitioner – deals confidently with uncertainty, leans into difficult conversations while lowering the pressure of resistance
• Strong problem-solving skills with the ability to think, influence and act strategically
• Effective communicator – structures insights into clear messages and effectively engages others within group actuarial function, as well as internal stakeholders, professional and regulatory bodies
• Change agent – leverages a skilful understanding of persuasion and influence, knowing which techniques to deploy while remaining a trusted advisor to Group ExCo and the Board