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- Tasks: Assess and enhance (re)insurance risk models while validating quantitative risk models.
- Company: Join Swiss Re, a global leader in reinsurance and risk management.
- Benefits: Enjoy a hybrid work model and a culture that values diversity and innovation.
- Why this job: Make a real impact on global resilience while developing your actuarial expertise.
- Qualifications: University degree in a quantitative field; pursuing actuarial qualifications with programming skills.
- Other info: Be part of a small, diverse team with opportunities for professional growth.
The predicted salary is between 36000 - 60000 £ per year.
Are you an actuary looking for an exciting opportunity to apply your expertise in a global environment? Do you want to play a key role in assessing and enhancing (re)insurance risk models? If so, we invite you to join Swiss Re’s Actuarial Control team within Group Risk Management!
About the Role
As part of the Actuarial Control team within Group Risk Management, you will use your actuarial knowledge and skillset to assess (re)insurance risks and their quantification, to help safeguard the resilience of Swiss Re, and thereby its commitment to make its customers and the world more resilient. Your key responsibilities will be the following:
- Carrying out model validations by providing independent reviews and opinions of the quantitative risk (stochastic) models used to value the re(insurance) risks within our internal solvency model.
- Preparing reports for senior management and regulators, providing your insights into model soundness and appropriateness.
- Applying advanced statistical and data science techniques to assess the methodology and explore alternative model structures and parameters.
- Assessment of the uncertainties, limitations, and shortcomings of the current risk models based on sound and clear quantitative or qualitative argumentation.
- Monitoring and keeping track of regulatory changes affecting (re)insurance risk modelling such as FINMA Standard Re model or industry benchmarks.
About the Team
The team's remit is global and spans both Life & Health and Property & Casualty business, providing support to the Group Chief Actuary and Group CRO. Our team is also small and geographically dispersed, providing the opportunity to work in a variety of areas.
About You
You have excellent interpersonal and communication skills with good spoken and written English. You’re naturally curious and enjoy breaking down complex problems into clear, simple concepts. You’re not afraid to step outside your comfort zone, eager to take on new challenges and build your expertise. With strong analytical skills, you can manage large, complex data sets while keeping an eye on the bigger picture.
Essentials:
- University degree in a quantitative field (e.g. mathematics) with strong academic performance.
- Qualified Actuary or pursuing actuarial qualifications, with experience in the P&C (Re)insurance industry.
- Experience using programming/scripting languages (e.g., MATLAB, R, Python, SAS).
- Highly motivated with a strong desire to learn and a proven track record of quickly adapting to new challenges.
We are looking forward to your application! We provide feedback to all candidates via email. If you have not heard back from us, please check your spam folder.
About Swiss Re
Swiss Re is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. We anticipate and manage a wide variety of risks, from natural catastrophes and climate change to cybercrime. Combining experience with creative thinking and cutting-edge expertise, we create new opportunities and solutions for our clients. This is possible thanks to the collaboration of more than 14,000 employees across the world. Our success depends on our ability to build an inclusive culture encouraging fresh perspectives and innovative thinking. We embrace a workplace where everyone has equal opportunities to thrive and develop professionally regardless of their age, gender, race, ethnicity, gender identity and/or expression, sexual orientation, physical or mental ability, skillset, thought or other characteristics. In our inclusive and flexible environment everyone can bring their authentic selves to work and their passion for sustainability.
Quantitative Risk Actuary (Hybrid; 80-100%) employer: Crossell
Contact Detail:
Crossell Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Quantitative Risk Actuary (Hybrid; 80-100%)
✨Tip Number 1
Network with professionals in the actuarial field, especially those who work in risk management or at Swiss Re. Attend industry conferences or webinars to connect with potential colleagues and learn more about the company culture.
✨Tip Number 2
Familiarise yourself with the latest regulatory changes affecting (re)insurance risk modelling. This knowledge will not only help you in interviews but also demonstrate your commitment to staying updated in the field.
✨Tip Number 3
Showcase your programming skills by working on personal projects or contributing to open-source initiatives using languages like Python or R. This practical experience can set you apart from other candidates.
✨Tip Number 4
Prepare for interviews by practising how to explain complex actuarial concepts in simple terms. This will highlight your communication skills and ability to convey important information to non-technical stakeholders.
We think you need these skills to ace Quantitative Risk Actuary (Hybrid; 80-100%)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your actuarial qualifications and relevant experience in the P&C (Re)insurance industry. Emphasise your skills in programming languages like MATLAB, R, Python, or SAS, as these are crucial for the role.
Craft a Strong Cover Letter: In your cover letter, express your enthusiasm for the position and the company. Discuss how your analytical skills and curiosity align with the responsibilities of assessing and enhancing risk models at Swiss Re.
Showcase Communication Skills: Since excellent interpersonal and communication skills are essential, provide examples in your application that demonstrate your ability to convey complex ideas clearly, both in writing and verbally.
Highlight Continuous Learning: Mention any ongoing education or professional development related to actuarial science. This shows your motivation to learn and adapt, which is highly valued in this role.
How to prepare for a job interview at Crossell
✨Showcase Your Analytical Skills
As a Quantitative Risk Actuary, your analytical skills are crucial. Be prepared to discuss specific examples of how you've managed large data sets and applied statistical techniques in previous roles. Highlight any experience with programming languages like R or Python, as this will demonstrate your technical proficiency.
✨Understand the Role of Model Validation
Familiarise yourself with the concept of model validation and its importance in risk assessment. Be ready to explain how you would approach validating stochastic models and what criteria you would use to assess their soundness. This shows that you understand the core responsibilities of the role.
✨Communicate Clearly and Effectively
Given the need to prepare reports for senior management and regulators, strong communication skills are essential. Practice explaining complex actuarial concepts in simple terms. This will help you convey your insights effectively during the interview.
✨Demonstrate Curiosity and Adaptability
The job requires a natural curiosity and willingness to step outside your comfort zone. Share examples of how you've tackled new challenges in the past and what you've learned from them. This will show your potential employer that you're eager to grow and adapt in a dynamic environment.
