At a Glance
- Tasks: Provide independent actuarial insights across various risk areas and support strategic decision-making.
- Company: Dynamic Lloyd's managing agency with a focus on innovation and collaboration.
- Benefits: Competitive salary, flexible working, private health insurance, and generous leave options.
- Other info: Engage in exciting projects with excellent career growth opportunities and a vibrant company culture.
- Why this job: Make a real impact in risk management while developing your actuarial skills in a supportive environment.
- Qualifications: Qualified or near-qualified actuary with experience in risk or assurance functions.
The predicted salary is between 60000 - 80000 £ per year.
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 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 an exceptional 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 in the Lloyd's market.
StudySmarter Expert Advice🤫
We think this is how you could land Risk Actuary
✨Tip Number 1
Network like a pro! Get out there and connect with people in the industry. Attend events, join online forums, or even hit up LinkedIn. The more you engage, the better your chances of landing that Risk Actuary role.
✨Tip Number 2
Prepare for those interviews! Research the company and its risk management strategies. Be ready to discuss how your skills can help them tackle their unique challenges. Show them you’re not just another candidate, but the perfect fit!
✨Tip Number 3
Don’t underestimate the power of follow-ups. After an interview, drop a quick thank-you email to express your appreciation. It keeps you on their radar and shows your enthusiasm for the position.
✨Tip Number 4
Apply through our website! We’ve got all the latest job openings, and applying directly can sometimes give you an edge. Plus, it’s super easy to keep track of your applications this way.
We think you need these skills to ace Risk Actuary
Some tips for your application 🫡
Tailor Your CV:Make sure your CV reflects the skills and experience mentioned in the job description. Highlight your actuarial expertise, especially in risk quantification and modelling, to show us you’re the right fit for the Risk Actuary role.
Craft a Compelling Cover Letter:Use your cover letter to tell us why you’re passionate about this position. Share specific examples of how you've translated complex actuarial outputs into actionable insights, as this is key for engaging with senior stakeholders.
Showcase Your Technical Skills:Don’t forget to mention your experience with actuarial and risk modelling tools like Excel, R, or Python. We want to see how you can apply these skills in a Lloyd’s environment, so be specific about your past projects.
Apply Through Our Website:We encourage you to submit your application through our website. It’s the best way for us to receive your details and ensures you don’t miss out on any important updates during the hiring process.
How to prepare for a job interview at Polo
✨Know Your Numbers
As a Risk Actuary, you'll need to demonstrate your technical prowess. Brush up on key actuarial methods and be ready to discuss how you've applied them in previous roles. Be prepared to explain complex models and their implications clearly.
✨Engage with Stakeholders
This role requires confidence in engaging with senior stakeholders. Practice articulating your insights in a way that resonates with non-technical audiences. Use examples from your past experiences where you successfully influenced decisions through your actuarial insights.
✨Understand the Lloyd’s Environment
Familiarise yourself with the specific dynamics of the Lloyd’s market. Be ready to discuss how regulatory frameworks like Solvency II impact risk management and capital adequacy. Showing that you understand these nuances will set you apart.
✨Prepare for Scenario Testing
Since stress and scenario testing are part of the role, think about how you would approach this task. Prepare to discuss any relevant experience you have with scenario analysis and how it informs risk appetite and governance.
