At a Glance
- Tasks: Join a dynamic Reserving team, leading actuarial projects and analyses for multiple business lines.
- Company: Join SCOR, a leading global reinsurer with a collaborative and innovative culture.
- Benefits: Competitive salary, professional development, and opportunities to mentor junior team members.
- Other info: Exciting opportunity for career growth in a supportive environment.
- 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 - 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
As a Pricing Actuary at SCOR, you will thrive in a dynamic and innovative work culture that prioritises collaboration and professional growth. With access to cutting-edge pricing tools and methodologies, you will play a pivotal role in shaping the future of specialty insurance while enjoying comprehensive benefits and opportunities for career advancement in the heart of the London market.
StudySmarter Expert Advice🤫
We think this is how you could land Reserving Actuary in London
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like SCOR. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Reserving Actuary in London
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to SCOR.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on SCOR's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at SCOR
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with SCOR.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at SCOR will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former SCOR employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
