At a Glance
- Tasks: Provide independent actuarial insights across various risk areas in a dynamic environment.
- Company: Join a leading Lloyd's managing agent with a strong focus on innovation and collaboration.
- Benefits: Enjoy competitive salary, flexible working, private health insurance, and generous leave options.
- Other info: Engage in a vibrant culture with opportunities for professional development and community involvement.
- Why this job: Make a real impact by translating complex data into actionable insights for senior stakeholders.
- 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 in London employer: PoloWorks
As a Risk Actuary at our esteemed Lloyd's managing agency, you will thrive in a dynamic work culture that values technical expertise and commercial acumen. We offer a competitive salary alongside a comprehensive benefits package, including flexible hybrid working, private health insurance, and generous leave options, all designed to support your professional growth and work-life balance. Join us to engage with senior stakeholders and contribute to meaningful risk management initiatives in a collaborative environment that champions continuous learning and community involvement.
StudySmarter Expert Advice🤫
We think this is how you could land Risk Actuary in London
✨Tip Number 1
Network like a pro! Get out there and connect with people in the industry. Attend events, join online forums, and don’t be shy about reaching out to professionals on LinkedIn. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Prepare for interviews by practising your storytelling skills. Be ready to share specific examples of how you've tackled challenges in risk quantification or capital assessment. This will help you showcase your technical prowess and commercial mindset.
✨Tip Number 3
Research the company thoroughly before your interview. Understand their risk appetite and recent developments in the Lloyd’s market. This will not only impress your interviewers but also help you tailor your insights to their specific needs.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive and engaged with our brand. Let’s get you that Risk Actuary role!
We think you need these skills to ace Risk Actuary in London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV speaks directly to the Risk Actuary role. Highlight your experience with actuarial methods and risk modelling tools, and don’t forget to mention any relevant qualifications. We want to see how your skills align with what we’re looking for!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you’re the perfect fit for our team. Share specific examples of how you've influenced underwriting decisions or tackled complex actuarial challenges. Let us see your personality and passion for the role!
Showcase Your Technical Skills:We’re keen on candidates who are technically strong. Make sure to highlight your experience with tools like Excel, R, or Python, and any familiarity with Lloyd’s market dynamics. This will help us understand your capabilities right off the bat!
Apply Through Our Website:Don’t forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it gives you a chance to explore more about StudySmarter and what we stand for!
How to prepare for a job interview at PoloWorks
✨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 real-world scenarios. Prepare to explain complex models in simple terms, as this will show your ability to engage with senior stakeholders.
✨Understand the Lloyd's Landscape
Familiarise yourself with the Lloyd’s market and its governance structures. Be prepared to discuss how your experience aligns with their requirements, especially regarding capital adequacy and risk appetite. This knowledge will help you stand out as someone who can navigate the intricacies of the environment.
✨Prepare for Scenario Testing
Since stress and scenario testing are crucial in this role, think about past experiences where you've conducted or contributed to such analyses. Be ready to share insights on how you approached these tasks and the impact they had on decision-making processes.
✨Communicate Clearly
Your ability to translate complex actuarial outputs into actionable insights is key. Practice explaining your work in layman's terms, focusing on how it influences underwriting strategies and capital efficiency. This will showcase your communication skills and your understanding of the business implications of your work.
