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- Tasks: Join our Actuarial Reserving team to support financial reporting and regulatory compliance.
- Company: Sompo is a global insurer with 130 years of experience, dedicated to client solutions.
- Benefits: Enjoy health benefits, retirement plans, and parental leave options.
- Why this job: Be part of a diverse team tackling complex challenges in a fast-paced environment.
- Qualifications: Qualified or nearly qualified actuary with 3+ years of reserving experience required.
- Other info: Work in London with opportunities for collaboration across global teams.
The predicted salary is between 36000 - 60000 £ per year.
Are you looking for your next opportunity? Sompo has a unique opportunity for a Corporate Reserving Analyst/Actuary within our Actuarial Reserving team. Our Actuarial Reserving team provides essential support to various stakeholders, focusing on 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 ensures accurate and timely reserve estimates for financial reporting, aligning with regulatory standards. The successful candidate will report to the Head of Corporate Reserving, supporting activities like quarterly reserving, analytical exercises, and deep dive studies. The team is based in London and New York, with shared resources across the Group reserving team.
Location: London
What you’ll be doing:
- Assist with Quarterly Reserving Responsibilities: Contribute to the quarterly reserving process, including data quality checks and peer review of IBNR selections. Prepare reserve materials and outputs for key meetings such as the CFO Reserve Meeting and Group Reserve Committee. Coordinate with external auditors and internal audit teams.
- Support maintenance of reserve platform: Understand the platform’s workings to implement selections and judgments efficiently. Suggest and help implement platform improvements. Collaborate on data quality initiatives across Sompo.
- Support Group-wide analytical projects: Implement methods like frequency-severity and loss ratio analysis.
- Provide reserving inputs for regulatory needs, including IFRS17, Solvency II, BMA Economic Balance Sheet, Singapore MAS opinions, and ICS calculations.
What You’ll Bring:
- A qualified or nearly qualified actuary with 3+ years of reserving experience.
- Excellent communication skills and ability to build relationships with senior management.
- Organized, able to meet deadlines in a fast-paced environment.
- Strong IT skills; programming experience is a plus.
Our Benefits:
- Health & Wellness Benefits
- Retirement & Savings Plans
- Parental Leave & Adoption Assistance
Our Values:
We aim to create value for clients and shareholders, fostering an inclusive, diverse, and respectful workplace. We are committed to combating discrimination and promoting an environment where everyone belongs.
About Us:
Sompo is a global property, casualty, and specialty insurer with 130 years of experience. We focus on simplifying complex challenges for our clients with a dedicated team of over 9,000 employees worldwide.
Corporate Reserving Analyst employer: Sompo
Contact Detail:
Sompo Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Corporate Reserving Analyst
✨Tip Number 1
Familiarise yourself with the key regulatory frameworks mentioned in the job description, such as IFRS17 and Solvency II. Understanding these will not only help you during interviews but also demonstrate your commitment to the role.
✨Tip Number 2
Network with current or former employees of Sompo, especially those in the Actuarial Reserving team. They can provide valuable insights into the company culture and expectations, which can be beneficial for your application.
✨Tip Number 3
Brush up on your programming skills, particularly if you have experience with data analysis tools. Highlighting your technical abilities can set you apart from other candidates, especially since strong IT skills are a plus for this role.
✨Tip Number 4
Prepare to discuss your experience with quarterly reserving processes and any analytical projects you've been involved in. Being able to articulate your past contributions will show your readiness for the responsibilities outlined in the job description.
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 in reserving and actuarial work. Emphasise your qualifications, particularly if you are a qualified or nearly qualified actuary, and include specific examples of your contributions to quarterly reserving processes.
Craft a Compelling Cover Letter: Write a cover letter that showcases your understanding of the role and the company. Mention your experience with financial reporting and regulatory compliance, and express your enthusiasm for contributing to the Actuarial Reserving team at Sompo.
Highlight Technical Skills: In your application, be sure to mention any strong IT skills and programming experience you have. This is particularly important as the role involves working with reserve platforms and data quality initiatives.
Showcase Communication Skills: Since the role requires excellent communication skills and the ability to build relationships with senior management, provide examples in your application that demonstrate your interpersonal skills and experience in collaborative environments.
How to prepare for a job interview at Sompo
✨Understand the Role
Make sure you have a solid grasp of what a Corporate Reserving Analyst does. Familiarise yourself with key responsibilities like quarterly reserving, data quality checks, and regulatory compliance. This will help you answer questions confidently and demonstrate your genuine interest in the position.
✨Brush Up on Technical Skills
Since strong IT skills are essential for this role, review any relevant programming languages or software that may be used in reserving processes. Be prepared to discuss your technical experience and how it can benefit the team at Sompo.
✨Prepare for Scenario Questions
Expect to face scenario-based questions that assess your analytical skills and decision-making abilities. Think about past experiences where you've had to make judgments on reserves or handle complex data, and be ready to share those examples.
✨Showcase Your Communication Skills
As the role involves liaising with senior management and external auditors, it's crucial to demonstrate your communication skills. Practice articulating your thoughts clearly and concisely, and be prepared to discuss how you've built relationships in previous roles.
