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 and analytical skills required.
- Why this job: Make an impact in the insurance industry while developing your actuarial skills.
- Qualifications: Part-qualified actuary or equivalent 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 employer: The Lancashire Group
As a Senior Actuarial Analyst at our London office, you will join a dynamic and supportive team dedicated to professional development and training. We offer comprehensive study support for your actuarial exams, alongside a collaborative work culture that encourages innovation and growth. With exposure to diverse reserving processes across the Lancashire Group, this role provides a unique opportunity to enhance your skills in a thriving market environment.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Actuarial Analyst - Reserving
✨Network Like a Pro
Get out there and connect with people in the industry! Attend events, join online forums, or even reach out on LinkedIn. We all know that sometimes it’s not just what you know, but who you know that can help you land that Senior Actuarial Analyst role.
✨Ace the Interview
Prepare for your interview by brushing up on your technical knowledge and being ready to discuss your experience with reserving techniques. We recommend practising common actuarial interview questions and even doing mock interviews with friends to boost your confidence.
✨Showcase Your Skills
When you get the chance, don’t hold back on showcasing your analytical and presentation skills. Bring examples of your work or case studies to the interview. We want to see how you can communicate complex actuarial concepts to a non-actuarial audience!
✨Apply Through Our Website
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we love seeing candidates who are proactive about their job search. Let’s get you that Senior Actuarial Analyst position!
We think you need these skills to ace Senior Actuarial Analyst - Reserving
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Senior Actuarial Analyst role. Highlight your reserving experience and any relevant skills that match the job description. We want to see how your background fits with what we're looking for!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about this role and how your experience aligns with our needs. Keep it concise but engaging – we love a good story!
Show Off Your Skills:Don’t forget to showcase your analytical and technical skills in your application. Mention your experience with actuarial reserving techniques, MS Office, and SQL. We’re keen to see how you can contribute to our team!
Apply Through Our Website:We encourage you to apply through our website for a smoother process. It helps us keep track of your application and ensures you don’t miss out on any important updates. Plus, it’s super easy!
How to prepare for a job interview at The Lancashire Group
✨Know Your Numbers
Brush up on your actuarial reserving techniques and models, especially those related to Lloyd’s, UK GAAP, and Solvency II. Be ready to discuss specific examples from your experience that demonstrate your understanding of these concepts.
✨Showcase Your Analytical Skills
Prepare to talk about your analytical and technical skills. Think of instances where you've used these skills to solve problems or enhance processes in your previous roles. Use clear examples to illustrate how you can communicate complex analyses to non-actuarial audiences.
✨Engage with the Team
Since this role involves a lot of communication with various departments, be prepared to discuss how you’ve collaborated with underwriting, finance, and claims functions in the past. Highlight your interpersonal skills and how they’ve helped you build strong working relationships.
✨Ask Insightful Questions
At the end of the interview, don’t forget to ask questions! Inquire about the team dynamics, the company’s approach to reserving process enhancements, or how they support ongoing study for actuarial exams. This shows your genuine interest in the role and the company.
