At a Glance
- Tasks: Support annual planning and peer review processes in a dynamic actuarial team.
- Company: Join Sompo, a global leader committed to diversity and employee growth.
- Benefits: Enjoy competitive pay, health benefits, tuition reimbursement, and flexible work options.
- Other info: Thriving workplace culture focused on respect, inclusion, and professional development.
- Why this job: Make a real impact in a collaborative environment while advancing your actuarial career.
- Qualifications: 5+ years of experience as an actuary with strong communication and IT skills.
The predicted salary is between 60000 - 67000 £ per year.
Are you looking for your next opportunity? Sompo has a unique opportunity for a Senior Reserving Actuary in our Global Review and Analysis (GRA) team. The main focus areas for the GRA team, which is part of the Reserving Corporate team, are the annual planning exercise, the Plan Review and Sub-Committee, coordinating the Reserving function’s peer review process and overseeing Group level Deep Dive exercises in conjunction with the Corporate Actuarial 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:
- Support the annual loss ratio planning review process across all business units
- Support the Head of GRA in producing presentations of the annual business plan review to share with management
- Support the preparation, coordination, and delivery of materials for the quarterly Plan Review Sub-Committee (PRSC).
- Support the Global Reserving Function peer review process.
- Support the Divisional Reserving Deep Dive process where required.
- Support Group level Deep Dive exercises in conjunction with the Corporate Actuarial team, including comparisons to peers and wider market information
- Support ad hoc analysis and deep dives on emerging reserving trends.
- Consolidate reserving inputs to support performance monitoring and plan development.
- Work closely with the finance, FP&A and pricing functions to continually enhance the strength of the overall feedback loop around business planning and review.
- Liaise with divisional reserving teams to gather inputs and ensure consistency of assumptions.
- Produce long-term AvE to support assumption and peer review process.
What you’ll bring:
- An experienced actuary with at least 5 years of experience, preferably in a senior reserving role.
- 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.
- A qualified or nearly qualified actuary.
At Sompo, we recognise that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees. Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance. We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents.
Below is a summary of some of the benefits we offer, which may vary depending on the country:
- Health & Wellness Benefits
- Retirement & Savings Plans
- Global Parental Leave & Adoption Assistance
- Employee Assistance Program
- Tuition Reimbursement & Professional Qualification benefits
Who we are and what we stand for:
At Sompo, our shared purpose is to create meaningful value for clients, communities, and each other. We strive to foster a workplace where everyone feels respected, included, and empowered to excel. As a global organization, we embrace diversity and champion equal opportunity. Guided by our core values—Accountability, Agility, Collaboration, Development, and Integrity—we build trust and support one another to achieve our goals worldwide. Our values come to life in how we hire and grow talent. Employment decisions are based on qualifications, merit, and organizational need, and we strive to ensure equitable access to opportunities so everyone can do their best work. If you need an accommodation for any part of the application process, please contact the recruiter in charge.
Senior Reserving Actuary in London employer: Sompo
Sompo is an exceptional employer that fosters a collaborative and innovative work culture in the heart of London. With a strong focus on employee growth, we offer extensive professional development opportunities and a supportive environment that encourages creativity and strategic thinking. Join us to be part of a dynamic team dedicated to delivering outstanding client engagement services while enjoying the unique advantages of working in one of the world's most vibrant cities.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Reserving Actuary in London
✨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). 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. 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 Reserving Actuary in London
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.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Sompo. 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
✨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 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, 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'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.
