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- Tasks: Conduct quarterly reserving analyses and collaborate with various business partners.
- Company: Join Chubb, a leading global insurance provider with a strong team culture.
- Benefits: Enjoy competitive pay, professional growth opportunities, and a supportive work environment.
- Why this job: Make a real impact in the insurance industry while developing your analytical skills.
- Qualifications: Team-oriented mindset with a strong work ethic; insurance experience is a plus.
- Other info: Dynamic role with opportunities to engage with actuarial colleagues across multiple teams.
The predicted salary is between 36000 - 60000 £ per year.
The Chubb Europe reserving team has responsibility for reserving across lines of business including Casualty, Property, Financial Lines, Accident & Health, Tech Risks, Marine, High Net Worth and Speciality Personal Lines. This role will involve undertaking quarterly reserving analyses with a focus on specific lines of business for which you will have primary responsibility. There will be a need for regular communication with all business partners in the reserving process, including Underwriting, Claims, Actuarial and Finance. Developing and managing relationships with these business partners is a key requirement for the role.
This role will also provide support to the Solvency II Technical Provisions process to meet internal and external reporting requirements and deadlines. The role requires a collaborative, team-based approach to working and the ability to manage conflicting demands in a timely manner, with work often being required for a number of different business partners at the same time. The role holder will be expected to take strong personal ownership for the responsibilities of the role and to demonstrate an ability to develop appropriate solutions to actuarial problems.
While reserving is the primary purpose of the role, there will be regular opportunities to work with actuarial colleagues in the Pricing, Planning and Capital Modelling teams.
Key responsibilities- Support the quarterly reviews of reserves on specified lines of business, generally for the purposes of US GAAP reporting. This process includes the calculation of an actuarial central estimate and the incorporation of management’s best estimate.
- Prepare quarterly reserve analysis presentations for business/underwriting management.
- Support the communication of reserve review results, including presentation to Underwriting, Executive Management, Group Actuarial and Finance.
- Perform and present the results of ad-hoc portfolio analyses, as required.
- Proactively support the development and management of reserving databases, applications and systems.
- Support the Solvency II Technical Provisions quarterly calculation process, including analysis of change investigations.
- Possibility to support the annual reserve risk parameterisation process including analysing model.
- Support the bi-annual loss ratio planning processes, in particular to ensure that the outputs and insight from the reserving process are appropriately reflected in planning exercises and in turn that the outputs from the planning exercises are accurately captured and reflected in the reserving process.
- Support the reserving team’s management and statutory reporting requirements with the relevant authorities e.g. ACPR.
- Support external consultants’ and auditors’ independent analyses of reserve adequacy and reserving methods.
- Ensure reserve analyses and results communication are always carried out in line with the required control environment, for example Sarbanes Oxley regulation.
- Support the development of the existing relationship with the dedicated offshore team.
- Be recognised as a problem solver and a successful communicator to non-actuarial colleagues.
- High integrity and work ethic, and team oriented.
- A background in non-life insurance retail or commercial reserving is preferred but not essential.
Reserving Analyst employer: Chubb Ltd.
Contact Detail:
Chubb Ltd. Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Reserving Analyst
✨Tip Number 1
Network like a pro! Reach out to current or former employees at Chubb through LinkedIn. A friendly chat can give us insider info on the company culture and maybe even a referral!
✨Tip Number 2
Prepare for those interviews by brushing up on your reserving knowledge. We should be ready to discuss specific lines of business and how we can contribute to the team’s success.
✨Tip Number 3
Show off our communication skills! During interviews, highlight how we’ve effectively collaborated with different teams in the past. This role is all about teamwork, so let’s make that clear.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure our application gets seen by the right people. Plus, it shows we’re serious about joining the Chubb family.
We think you need these skills to ace Reserving Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in reserving and actuarial work. We want to see how your skills align with the specific lines of business mentioned in the job description, so don’t hold back on showcasing your expertise!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you’re passionate about the role and how you can contribute to our team. Mention your ability to communicate effectively with various business partners, as this is key for us.
Showcase Your Problem-Solving Skills: In your application, highlight instances where you've successfully tackled actuarial problems or managed conflicting demands. We love candidates who can demonstrate strong ownership and innovative thinking in their previous roles.
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re keen on joining our team at StudySmarter!
How to prepare for a job interview at Chubb Ltd.
✨Know Your Numbers
As a Reserving Analyst, you'll be dealing with a lot of data and calculations. Brush up on your actuarial principles and be ready to discuss how you would approach reserve analyses for different lines of business. Familiarise yourself with US GAAP reporting standards, as this will likely come up in conversation.
✨Communicate Clearly
Since the role involves regular communication with various business partners, practice explaining complex actuarial concepts in simple terms. Prepare examples of how you've successfully communicated findings or collaborated with teams in the past. This will show your ability to bridge the gap between technical and non-technical stakeholders.
✨Show Your Problem-Solving Skills
Be prepared to discuss specific challenges you've faced in previous roles and how you approached solving them. Think about times when you had to manage conflicting demands or tight deadlines, and be ready to share those experiences. Highlighting your problem-solving abilities will demonstrate your fit for the role.
✨Build Relationships
The job requires developing strong relationships with various teams. Think of ways you've built rapport with colleagues or clients in the past. During the interview, express your enthusiasm for collaboration and teamwork, and be ready to discuss how you would approach building relationships with the underwriting, claims, and finance teams.