At a Glance
- Tasks: Support insurance risk management and provide independent analysis for strategic decision-making.
- Company: Leading insurance firm with a focus on innovation and collaboration.
- Benefits: Hybrid work model, competitive salary, and opportunities for professional growth.
- Other info: Join a supportive environment with excellent career advancement opportunities.
- Why this job: Make a real impact in risk management while working with a dynamic team.
- Qualifications: Strong actuarial skills and experience in risk assessment.
The predicted salary is between 59400 - 72600 £ per year.
The Senior Risk Actuary sits within Quantitative ERM and supports the independent oversight of insurance risk across the Group, ensuring alignment with risk appetite, capital, and strategy. The role applies technical expertise across a range of topics to support business decision-making, risk identification and mitigation, and the delivery of the insurance risk agenda in partnership with stakeholders globally.
Key Responsibilities
- Support the development and delivery of the Insurance Risk Assurance Plan across all risk-taking entities.
- Provide independent challenge of business plan loss ratio assumptions, assessing whether key assumptions (including rate change, inflation, development patterns, catastrophe load, portfolio mix, growth and reinsurance strategy) are reasonable, supported and internally consistent, identifying material downside risks, areas of uncertainty and implications for earnings, capital and risk profile.
- Support insurance risk stress and scenario testing, including scenario design, quantitative impact assessment, challenge of results and reporting to management and Board forums.
- Support second-line oversight and challenge of reserve analyses, methodologies, assumptions and judgements, forming an independent view on reserving adequacy and uncertainty.
- Support targeted insurance risk deep dives and thematic reviews (e.g. class performance, inflation, market cycle dynamics).
- Deliver ad hoc quantitative analysis to support executive decision‐making on emerging risks and strategic initiatives.
- Support with Group and legal entity CRO executive and Board forum reporting.
- Provide independent review and challenge of insurance risk components of regulatory submissions and capital assessments, including ORSAs, PRA exercises, Solvency II Technical Provisions, SCR calculations and Standard Formula appropriateness assessments.
- Maintain up-to-date technical expertise and awareness of regulations and professional guidance.
- Build and maintain strong relationships across the wider business and the broader Risk team.
Senior Risk Actuary employer: Sompo Holdings Inc
At Sompo Holdings, Inc., we pride ourselves on fostering a dynamic and inclusive work culture that empowers our employees to thrive. As a Credit Controller in our London office, you will benefit from a hybrid working model, competitive remuneration, and opportunities for professional development within a supportive team environment. Join us to make a meaningful impact while enjoying the unique advantages of working in one of the world's leading insurance firms.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Risk Actuary
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Sompo Holdings Inc). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Sompo Holdings Inc. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Senior Risk Actuary
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Sompo Holdings Inc.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Sompo Holdings Inc. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Sompo Holdings Inc
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Sompo Holdings Inc to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Sompo Holdings Inc, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Sompo Holdings Inc's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
