Lead Reporting Actuary in Birmingham

Key Relationships: Senior management, Beazley actuaries, Finance, Data Management and Ceded Reinsurance teams, Claims managers, Underwriters and business managers, Lloyd’s, external actuaries/auditors.

Job Summary: Actuarial Regulatory Reporting Team for Beazley.

Key Responsibilities

• Technical

• Maintain, update and run the technical provisions process, adhering to the required standards under different bases (Solvency UK, Solvency II, Bermuda Monetary Authority), for quarterly and annual reporting.
• This includes taking ownership of the end-to-end process, covering data collection, running and updating the underlying code, as well as validating and analysing the technical provisions output.
• Maintain, update and run the solvency profit model and balance sheet projection tools.
• Take ownership of year end reporting of solvency data to our regulators.
• Identify opportunities, enhance areas and deliver improvements in the technical provisions process and methodologies.
• Understand and effectively communicate the drivers of movements in technical provisions, including writing reports on a quarterly basis to explain movements to senior stakeholders and committees.
• Ensure the appropriate review of technical provisions and reporting requirements occurs prior to external submission and that submissions are made to high standard in a timely manner.
• Contribute to the maintenance of documentation with the required frequency, adhering to the review requirements and obtaining the appropriate sign-offs.
• Peer review colleagues' work to provide quality assurance.
• Support the work of external actuaries as required.
• Assist in other projects undertaken by the actuarial team e.g. M&A and business planning analyses.
• Build and maintain constructive working arrangements with those groups identified as being key to your role.
• Operate as an effective team member by supporting colleagues and contributing to the delivery and achievement of overall team and business objectives.
• Provide support and mentoring to the junior reporting actuaries on the team.
• Become a technical expert and trusted advisor for management on technical provisions and related matters.
• Keep abreast of industry best practice, new initiatives and changes in regulatory requirements.
• Undertake applicable professional, technical and career development training (delivered internally and externally).
• Work with other reporting teams at Beazley to understand how different sets of accounts are prepared to ensure consistency.

• It is important that within all your interactions both internally and externally you adhere Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
• Comply with Beazley procedures, policies and regulations including the code of conduct.
• Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
• Display business ethics that uphold the interests of all our customers.
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas.
• This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system.
• These may include membership of any Beazley committees or working groups.

Personal Specification

• Education and Qualifications

• University degree in Mathematics or related field.
• Hold or are close to completing an Actuarial qualification.
• Strong background in operating large code bases including the ability to maintain and add to existing code.
• Knowledge of SAS and SQL is preferred.
• Previous experience of writing, managing and maintaining code (such as SAS).
• Good knowledge of technical provisions for Solvency UK, Solvency II and Bermuda Monetary Authority (BMA) preferred; however, we would welcome applications from individuals with other experience within the insurance sector (such as reserving, capital modelling, pricing).

• Strong and competent user of MS Excel.
• General commercial and financial knowledge.
• Experience in analytics/visualisation tools.
• 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.

• Previous reserving experience with Lloyd’s market knowledge, desirable.
• Knowledge of IFRS 17, desirable.
• Knowledge of actuarial valuation techniques, including those used within pricing and capital modelling, desirable.
• Understanding of reinsurance and its impact on reserving, desirable.

• Outcome focused, self-motivated, flexible and enthusiastic.
• Professional approach to successfully interact with team members, internal and external stakeholders.

• Achievement and solution focused.
• Analytical.
• Information seeking.
• Stakeholder focus.
• Using initiative.
• Having integrity.
• Taking responsibility.
• Being reliable.
• Attention to detail.