At a Glance
- Tasks: Lead actuarial reserving projects and analyse technical reserves for various business lines.
- Company: Join SCOR, a leading global reinsurer with a commitment to diversity and inclusion.
- Benefits: Competitive salary, professional development, and opportunities for mentorship.
- Other info: Dynamic team environment with opportunities for career growth and skill enhancement.
- Why this job: Make a real impact in the insurance industry while working with cutting-edge actuarial practices.
- Qualifications: Fellow of the Institute and Faculty of Actuaries with 7+ years in Lloyd’s/London Market reserving.
The predicted salary is between 80000 - 100000 £ per year.
The jobholder will be an ambitious actuary who wants to work as part of a Reserving team, providing a wide range of actuarial reserving services for non‑Lloyd’s entities. A key part of the role will be working on quarterly reserving, assisting on a wide variety of Reserving Projects.
Responsibilities
- Lead the analysis of the technical reserves on a quarterly basis for multiple lines of business.
- Lead reserving projects, such as automation of current processes and modelling of specific lines of business.
- Lead reporting for SCOR UK and SCOR Europe boards and other governance bodies as required.
- Lead improvements of certain models, visualisation tools and dashboards.
- Annual review of the UK portfolio and contribute to the actuarial report for the various UK and European legal entities.
- Carry out regular or ad‑hoc studies for specific segments.
- Work closely with claims team, finance team, underwriters and underwriting management and other members of the actuarial team to develop, review and maintain appropriate tools and methodologies.
- Communicate with external Actuaries, Auditors and external regulators when required. Be able to respond to auditor queries and undertake audit defence to UK audit standards.
- Help enhance management information and reporting for the PRA and ACPR.
- Communicate key movement/trends/events to the business on a quarterly basis.
- Mentor, grow and develop junior members of the team.
Qualifications
- Post qualified, i.e. Fellow of the Institute and Faculty of Actuaries FIA (or equivalent being FCAS, FIAA) with at least 7 years’ experience within a Lloyd’s/London Market reserving role.
- Established, strong knowledge of GAAP, Solvency II and Solvency UK.
- IFRS17 knowledge.
- Knowledge of regulatory requirements and an understanding of how they impact on the business.
- Strong knowledge and delivery professional standard requirements.
- Strong understanding of P&C (re)insurance and reserving practices and products.
- Significant experience in understanding, explaining and analysing financial impacts and drivers of change.
- Experience managing projects and effectively representing your department.
- Demonstrated ability to identify and implement departmental processes and controls and ensure that these are appropriately documented.
- Proficient in actuarial software, database and reporting tools including ResQ.
- Demonstrated ability to understand complex actuarial models.
- Advanced proficiency in Microsoft Office Suite (Excel, Word, PowerPoint).
- Desired ability to code in VBA, SQL, Python and use Gen AI.
Reserving Actuary in London employer: SCOR UK Company Limited
SCOR is an exceptional employer for aspiring Reserving Actuaries, offering a dynamic work environment in the heart of London. With a strong commitment to employee growth, SCOR provides ample opportunities for professional development and mentorship, fostering a culture of collaboration and innovation. The company's focus on diversity and inclusion ensures that all employees feel valued and empowered, making it a rewarding place to build a meaningful career.
StudySmarter Expert Advice🤫
We think this is how you could land Reserving Actuary in London
✨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 current employees at companies you’re interested in. We all know that sometimes it’s not just what you know, but who you know!
✨Show Off Your Skills
When you get the chance to chat with potential employers, make sure to highlight your experience with GAAP, Solvency II, and any relevant software like ResQ. We want to see how you can bring value to the team, so don’t hold back on showcasing your expertise!
✨Prepare for the Interview
Do your homework before the interview! Understand the company’s recent projects and challenges in the reserving space. We recommend preparing some thoughtful questions to show you’re genuinely interested and ready to contribute from day one.
✨Apply Through Our Website
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we love seeing candidates who take the initiative to engage directly with us!
We think you need these skills to ace Reserving Actuary in London
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 reserving, and any relevant projects you've led. We want to see how you fit into our team!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about the Reserving Actuary role and how your background aligns with our needs. Keep it engaging and personal – we love to see your personality!
Showcase Your Technical Skills:Since this role involves a lot of technical work, make sure to mention your proficiency in actuarial software and any coding skills you have. If you've worked with tools like ResQ or have experience in VBA, SQL, or Python, let us know!
Apply Through Our Website:We encourage you to apply directly through our website for the best chance of getting noticed. It’s super easy, and you’ll be able to keep track of your application status. We can’t wait to hear from you!
How to prepare for a job interview at SCOR UK Company Limited
✨Know Your Numbers
As a Reserving Actuary, you'll need to demonstrate your strong grasp of technical reserves and financial impacts. Brush up on key metrics and be ready to discuss how you’ve analysed reserves in previous roles. Use specific examples to show your expertise!
✨Showcase Your Project Management Skills
Since leading reserving projects is a big part of the role, prepare to talk about your experience managing projects. Highlight any automation or modelling projects you've led, and be ready to discuss the outcomes and improvements you achieved.
✨Communicate Clearly
You’ll be working closely with various teams and external parties, so effective communication is key. Practice explaining complex actuarial concepts in simple terms. This will show that you can bridge the gap between technical details and business needs.
✨Be Ready for Technical Questions
Expect questions on GAAP, Solvency II, and IFRS17. Brush up on these topics and think about how they relate to the role. Being able to discuss regulatory requirements and their impact on the business will set you apart from other candidates.
