At a Glance
- Tasks: Provide independent actuarial insights on risk across various domains in a dynamic environment.
- Company: Join a leading Lloyd’s managing agency with a focus on innovation and collaboration.
- Benefits: Enjoy competitive salary, flexible working, generous leave, and comprehensive health benefits.
- Other info: Experience excellent career growth opportunities and a vibrant company culture.
- Why this job: Make a real impact by translating complex data into actionable insights for senior stakeholders.
- Qualifications: Qualified or near-qualified actuary with strong analytical and communication skills.
The predicted salary is between 60000 - 80000 £ per year.
Department: Managing Agency
Employment Type: Permanent
Location: London
Reporting to the Director of Risk & Governance, the Risk Actuary provides independent actuarial insight across underwriting, reserving, capital and reinsurance risk. You will help ensure that material insurance, market, reserving and capital risks are appropriately quantified, monitored and challenged within a Lloyd’s environment. This role suits someone who is technically strong, commercially minded and confident engaging with senior stakeholders — someone who can translate complex actuarial outputs into clear, decision‑ready insights.
Key Responsibilities
- Risk Quantification & Modelling
- Provide a second‑line view on actuarial models used to assess underwriting, reserve and reinsurance risk.
- Deliver independent analysis of exposure accumulations, volatility drivers and diversification benefits.
- Support stress and scenario testing, including Lloyd’s and Board‑driven scenarios.
- Capital & Solvency
- Support assessment of capital adequacy under internal frameworks, Lloyd’s requirements and Solvency II / Solvency UK regimes.
- Provide actuarial input into capital model assumptions, parameter validation and model change governance.
- Articulate how underwriting strategy and reinsurance structures influence capital efficiency.
- Risk Appetite & Governance
- Translate the Agency’s risk appetite into measurable actuarial metrics and tolerances.
- Monitor and report on utilisation, breaches, trends and emerging risks.
- Contribute to risk policies, limits frameworks and delegated authority oversight.
- Underwriting & Portfolio Oversight
- Partner with Underwriting to challenge pricing adequacy, margin sustainability and strategic changes.
- Independently review business plans, including loss ratio forecasts, growth assumptions and downside risk.
- Provide clear actuarial opinions to Risk Committees and the Board.
- Reinsurance & Credit Risk Support
- Support the design and evaluation of reinsurance programmes, focusing on volatility reduction, tail protection and capital relief.
- Contribute to assessment of reinsurance counterparty risk.
- Regulatory & Lloyd’s Interaction
- Support actuarial components of Lloyd’s returns, reviews and thematic exercises.
- Provide technical input to regulatory submissions and supervisory engagement.
- Ensure actuarial risk practices align with evolving Lloyd’s expectations.
- Reporting & Communication
- Produce high‑quality actuarial risk reporting for Committees, Board and Executive management.
- Translate complex modelling outputs into clear, actionable insights.
- Promote strong risk culture through education, challenge and collaboration.
Skills, Knowledge and Expertise
- Technical Skills
- Strong grounding in general insurance actuarial methods, specialty lines and long‑/short‑tail dynamics.
- Experience with actuarial and risk modelling tools (Excel, R, Python, capital models, exposure systems).
- Deep understanding of the Lloyd’s market and Managing Agency governance.
- Experience
- Several years’ actuarial experience within a Lloyd’s managing agent, specialty insurer or London Market consultancy.
- Experience working in or closely with a second‑line risk or assurance function.
- Demonstrated ability to influence underwriting or strategic decisions through actuarial insight.
- Professional Qualifications
- Qualified or near‑qualified actuary (IFoA or equivalent).
- Commitment to ongoing professional development.
Benefits
As well as a competitive salary, discretionary annual bonus, and a minimum 27 days of annual leave (with the option to buy more), you will also get an excellent benefits package, including flexible, hybrid working, private health insurance, life assurance, income protection, enhanced pension contributions, and occupational maternity and paternity pay. You will also have access to company volunteering days, an Electric Vehicle (EV) leasing scheme, an employee assistance programme with retail discounts and savings, a generous employee referral scheme and regular sports and social events.
Risk Actuary in London employer: Polo
As a Risk Actuary at our London-based Managing Agency, you will thrive in a dynamic work culture that values technical expertise and commercial insight. We offer a competitive salary alongside a comprehensive benefits package, including flexible working arrangements, private health insurance, and generous leave policies, all designed to support your professional growth and work-life balance. Join us to engage with senior stakeholders and contribute to meaningful risk management strategies within the prestigious Lloyd's market.
StudySmarter Expert Advice🤫
We think this is how you could land Risk Actuary in London
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Polo). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Polo. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Risk Actuary in London
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 Polo.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Polo. 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 Polo
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Polo 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 Polo, 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 Polo'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.
