At a Glance
- Tasks: Lead actuarial reserving projects and analyse technical reserves for various business lines.
- Company: Join SCOR, a leader in the insurance market with a commitment to diversity and inclusion.
- Benefits: Competitive salary, professional development, and opportunities to mentor junior team members.
- Other info: Dynamic role with opportunities for career growth and collaboration across teams.
- 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 - 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
SCOR is an exceptional employer for actuaries seeking to make a significant impact in the insurance industry. Located in the heart of London, we offer a dynamic work culture that fosters collaboration and innovation, alongside ample opportunities for professional growth and mentorship. Our commitment to diversity and inclusion ensures a supportive environment where every team member can thrive while contributing to meaningful projects that shape the future of actuarial reserving.
StudySmarter Expert Advice🤫
We think this is how you could land Reserving Actuary
✨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 on LinkedIn. We all know that sometimes it’s not just what you know, but who you know that can help you land that dream job.
✨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 values, recent projects, and how they fit into the wider market. We want you to come across as knowledgeable and genuinely interested in the role, so prep those questions and answers ahead of time.
✨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. Let’s make this happen together!
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 a bit of 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
✨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 provide examples from your past experience.
✨Showcase Your Project Management Skills
You'll likely be leading reserving projects, so highlight your project management experience. Prepare specific examples where you've successfully managed projects, automated processes, or improved models. This will demonstrate your ability to take charge and deliver results.
✨Communicate Effectively
Communication is key in this role, especially when liaising with claims teams, finance, and external auditors. Practice explaining complex actuarial concepts in simple terms. You might even want to prepare a few scenarios where you had to communicate difficult information clearly.
✨Mentorship Matters
Since mentoring junior team members is part of the job, think about your leadership style and how you've supported others in their development. Be prepared to share examples of how you've mentored colleagues and contributed to team growth, as this shows your commitment to collaboration and development.
