At a Glance
- Tasks: Join a dynamic Reserving team, leading actuarial projects and analyses for multiple business lines.
- Company: SCOR, a forward-thinking company committed to diversity and inclusion.
- Benefits: Competitive salary, professional development, and opportunities to mentor junior team members.
- Other info: Collaborative environment with strong focus on career growth and innovation.
- 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 reserving roles.
The predicted salary is between 80000 - 120000 £ 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 employer: SCOR UK Company Limited
SCOR is an exceptional employer for actuaries seeking to thrive in a dynamic and inclusive environment. Located in the heart of London, we offer a collaborative work culture that fosters professional growth through mentorship and diverse project opportunities. With a commitment to innovation and excellence, our team members enjoy access to cutting-edge tools and resources, ensuring they can make a meaningful impact while advancing their careers.
StudySmarter Expert Advice🤫
We think this is how you could land Reserving Actuary
✨Tip Number 1
Network like a pro! Reach out to your connections in the actuarial field, especially those who work in reserving. A friendly chat can lead to insider info about job openings that aren't even advertised yet.
✨Tip Number 2
Show off your skills! Prepare a portfolio or a presentation that highlights your past projects and achievements in reserving. This will give you an edge during interviews and show potential employers what you can bring to the table.
✨Tip Number 3
Practice makes perfect! Get comfortable with common interview questions for actuaries, especially those related to reserving practices and regulatory requirements. Mock interviews with friends can help you nail your responses.
✨Tip Number 4
Don’t forget to apply through our website! We’ve got loads of opportunities waiting for talented actuaries like you. Plus, it’s a great way to ensure your application gets seen by the right people.
We think you need these skills to ace Reserving 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 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:Don’t forget to mention your proficiency in actuarial software and coding languages like VBA, SQL, or Python. We’re looking for someone who can hit the ground running, so let us know how you can contribute from day one!
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way to ensure your application gets to us quickly and efficiently. Plus, you’ll find all the details you need about the role and our company culture there!
How to prepare for a job interview at SCOR UK Company Limited
✨Know Your Numbers
As a Reserving Actuary, you'll need to be comfortable with technical reserves and financial impacts. Brush up on your knowledge of GAAP, Solvency II, and IFRS17 before the interview. Be ready to discuss how these frameworks influence your work and share examples of how you've applied them in past roles.
✨Showcase Your Project Management Skills
You'll likely be leading reserving projects, so it's crucial to demonstrate your project management experience. Prepare specific examples where you've successfully managed projects, automated processes, or improved models. Highlight your ability to collaborate with different teams, like claims and finance, to achieve project goals.
✨Communicate Clearly
Effective communication is key in this role, especially when liaising with external actuaries and auditors. Practice explaining complex actuarial concepts in simple terms. During the interview, focus on how you can convey important trends and movements to stakeholders clearly and concisely.
✨Mentorship Matters
Since mentoring junior team members is part of the job, think about your approach to leadership. Be prepared to discuss how you've supported the growth of others in your team. Share specific instances where you've mentored someone and the positive outcomes that resulted from it.
