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- Tasks: Join our Actuarial Reserving team to support financial reporting and regulatory compliance.
- Company: Sompo International is a global leader in insurance and reinsurance with a commitment to excellence.
- Benefits: Enjoy flexible working, health benefits, generous retirement plans, and global parental leave.
- Why this job: Be part of a collaborative culture that values integrity and innovation while making a real impact.
- Qualifications: Qualified or nearly qualified actuary with 3+ years of reserving experience and strong IT skills.
- Other info: Work from our London office and collaborate with teams in New York and globally.
The predicted salary is between 36000 - 60000 ÂŁ per year.
As a leading provider of insurance and reinsurance with worldwide operations, we recognise that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry.
Sompo has a unique opportunity for a Corporate Reserving Analyst/Actuary within our Actuarial Reserving team. Our Actuarial Reserving team provides essential actuarial support to various stakeholders within the company. Specifically, the Corporate Reserving team plays a critical role in supporting Financial Reporting and Regulatory Compliance. We determine reserves under multiple frameworks, including economic reserving based on market conditions and statutory reserving based on regulatory requirements. Our team delivers accurate and timely reserve estimates for financial reporting purposes, ensuring that the company's reserves align with regulatory standards.
The successful candidate will report to the Head of Corporate Reserving and assist with a range of Corporate Reserving activities for Sompo. The Corporate team will support the main quarterly reserving process together with a number of other projects including group wide analytical exercises and reserving deep dive studies. The role will be supported by a dedicated reserving team based in London and New York and will also, sometimes, benefit from access to shared resources from across the Group reserving team.
Location: This position will be based out of our London office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.
What you’ll be doing:
- Assist with Quarterly Reserving Responsibilities
- Contribute to running the quarterly reserving process including assisting with data quality checks, peer review of IBNR selections
- Lead preparation of best practice reserve materials and outputs provided to key stakeholders, such as the CFO Reserve Meeting and Group Reserve Committee Meeting materials
- Assist with communications with external auditors, internal audit etc.
- Support with maintenance of reserve platform
- Understand the workings of the “front end” of the reserve platform to be able to quickly implement selections and judgements
- Suggest and help to implement improvements to the platform
- Liaise with wider Sompo-wide initiatives to improve data quality
- Assist with Group-wide analytical projects
- Examples include implementation of frequency-severity methods, loss ratio movement analysis etc.
- Assist in the provision of reserving inputs for both group and local regulatory needs, including:
- IFRS17
- Solvency II Technical Provisions
- BMA Economic Balance Sheet Technical Provisions
- Singapore MAS actuarial opinions
- International Capital Standard calculations
What you’ll bring:
- A qualified actuary or nearly qualified actuary with at least 3 years experience, preferably with strong exposure to reserving
- Excellent interpersonal, written and oral communications skills, including a proven ability to build relationships with senior management and underwriting teams.
- The candidate must be well-organised, with the ability to thrive in a fast-paced environment and consistently meet deadlines without compromising quality.
- Strong IT skills are required, including proficiency with the usual MS Office Products and some programming experience would be beneficial.
Our Benefits
We continuously evaluate and update our benefit programs to ensure that our plans meet the needs of our employees and their dependents. Below are a few highlights of our inclusive benefit programs:
- Expansive Health & Wellness Benefits
- Generous Retirement & Savings Plans
- Global Parental Leave & Adoption Assistance
We’re Sompo, a global provider of property, casualty, and specialty insurance and reinsurance. Building on Sompo Holdings’ 130 years of innovation, we’re committed to applying all of our experience to simplify yours. Our dedication to you shows up in the care we put in every detail, working to create a frictionless risk management journey for everyone we serve. Around the world, our 9,000+ employees use their expertise to learn, improve and find clear answers for your complex challenges.
Corporate Reserving Analyst employer: Sompo International
Contact Detail:
Sompo International Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Corporate Reserving Analyst
✨Tip Number 1
Familiarise yourself with the specific regulatory frameworks mentioned in the job description, such as IFRS17 and Solvency II. Understanding these will not only help you in interviews but also demonstrate your commitment to the role.
✨Tip Number 2
Network with current or former employees of Sompo International on platforms like LinkedIn. Engaging with them can provide insights into the company culture and expectations, which can be invaluable during your application process.
✨Tip Number 3
Brush up on your technical skills, especially in data analysis and programming. Being proficient in these areas will set you apart, as the role requires strong IT skills and familiarity with reserve platforms.
✨Tip Number 4
Prepare to discuss your experience with quarterly reserving processes and how you've contributed to similar projects in the past. Highlighting relevant experiences will show that you're ready to hit the ground running.
We think you need these skills to ace Corporate Reserving Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience and skills that align with the Corporate Reserving Analyst role. Emphasise your actuarial qualifications, experience in reserving, and any specific projects that demonstrate your analytical capabilities.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for the insurance industry and your understanding of the role. Mention how your values align with Sompo International's commitment to integrity and collaboration, and provide examples of how you've contributed to team success in previous roles.
Highlight Technical Skills: Since the role requires strong IT skills, be sure to mention your proficiency with MS Office products and any programming experience you have. Provide specific examples of how you've used these skills in past positions to improve processes or outcomes.
Showcase Communication Abilities: Given the importance of interpersonal skills in this role, include examples of how you've effectively communicated with senior management or cross-functional teams. Highlight any experiences where you've successfully built relationships or facilitated discussions around complex topics.
How to prepare for a job interview at Sompo International
✨Understand the Role and Responsibilities
Before the interview, make sure you thoroughly understand the job description and the specific responsibilities of a Corporate Reserving Analyst. Familiarise yourself with terms like IBNR, IFRS17, and Solvency II, as these will likely come up during your discussion.
✨Showcase Your Analytical Skills
Prepare to discuss your experience with analytical projects and data quality checks. Be ready to provide examples of how you've contributed to similar tasks in the past, especially in a fast-paced environment, as this is crucial for the role.
✨Demonstrate Strong Communication Abilities
Since the role involves liaising with various stakeholders, it's important to highlight your interpersonal skills. Prepare examples that showcase your ability to build relationships with senior management and other teams, as effective communication is key in this position.
✨Be Ready to Discuss Technical Proficiency
The job requires strong IT skills, so be prepared to talk about your proficiency with MS Office products and any programming experience you have. Consider discussing how you've used technology to improve processes or data quality in previous roles.
