At a Glance
- Tasks: Support reserving actuaries and enhance reserving processes in a dynamic team.
- Company: Join a leading insurance firm with a focus on training and development.
- Benefits: Study support for actuarial exams, competitive salary, and career growth opportunities.
- Other info: Collaborative environment with strong communication across teams.
- Why this job: Make an impact in the insurance industry while developing your actuarial skills.
- Qualifications: Part-qualified actuary with at least 2 years of reserving experience.
The predicted salary is between 50000 - 60000 £ per year.
This is a role for a part-qualified actuary (or equivalent) with General Insurance reserving experience, preferably with commercial lines or specialty lines exposure. The successful candidate will be reporting to the LSL Head of Reserving and will be part of an established and training-focussed reserving team. Initially, the successful candidate will be supporting the Reserving Actuaries for LSL Syndicates 2010 and 3010 with scope to expand into a more Group focussed role as the Actuarial Function looks to align reserving systems and processes across the Lancashire Group. Study support will be provided to a successful candidate to complete the actuarial exams. We also welcome applications from candidates who have chosen not to sit the actuarial exams.
Specific Responsibilities
- Reserving: Lloyd’s, UK GAAP, Solvency II, US Trust Fund and Accident Year reserving best estimate and booked calculations.
- Quarterly reserving documentation, presentation packs and reports.
- Support and discuss reserving related issues with underwriting, reinsurance, finance and claims functions.
- Liaise with the business to derive initial major loss estimates.
- Assist in the review and implementation of reserving process enhancements.
- Undertake portfolio analysis to support reserving investigations.
Regulatory Reporting
- Assist Finance in the production of Lloyd’s quarterly and annual management returns.
- Assist in the production of Technical Provisions component of the annual Actuarial Function Report.
- Maintenance of associated reserving frameworks and policies.
- Liaise with external SAO actuaries and auditors.
Essential Skills & Requirements
- Good knowledge of actuarial reserving techniques and models on Lloyd’s, UK GAAP and Solvency II bases.
- A minimum of 2 years’ experience of reserving, ideally within a London Market environment.
- Minimum of a second-class degree in a mathematical or science-based subject as well as good ‘A’ Levels (or equivalent) including at least one mathematical subject.
- Excellent IT skills, in particular MS Office and SQL.
- Strong analytical, technical and presentational skills to enable the results of Actuarial analyses to be communicated to a non-actuarial audience.
- Excellent attention to detail.
- Good written and verbal communication skills.
- Problem-solving skills and project management skills.
- Excellent interpersonal skills, as there will be a high level of communication required both within the firm and with external bodies.
Desirable
- Some knowledge of capital modelling, IFRS17 and/or pricing.
- Experience with Power BI, Psicle and/or ResQ.
Senior Actuarial Analyst - Reserving in London employer: The Lancashire Group
Join a dynamic and supportive team in the heart of London, where we prioritise employee development and offer comprehensive study support for your actuarial exams. Our collaborative work culture fosters innovation and growth, ensuring that you not only contribute to impactful projects but also advance your career within a leading firm in the insurance sector.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Actuarial Analyst - Reserving 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 The Lancashire Group). 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 The Lancashire Group. 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 Actuarial Analyst - Reserving 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 The Lancashire Group.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at The Lancashire Group. 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 The Lancashire Group
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at The Lancashire Group 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 The Lancashire Group, 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 The Lancashire Group'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.
