The Shipowners’ Club is a mutual insurance association. We offer Protection & Indemnity (P&I), Legal Costs Cover and associated insurances to smaller and specialist vessel owners, operators and charterers around the world. Building on over 170 years of experience, the Shipowners’ Club provides tailor-made insurance packages for each operator according to their particular need.
Are you a nearly/newly qualified actuary looking for a role with real breadth and influence? We are looking for an Actuary to join our Finance team, reporting to the Chief Actuary. This is a non-life reserving role that also offers exposure to capital modelling, reinsurance, business planning and pricing, so you will see how your work shapes decisions across the business. Whether you are newly qualified or already experienced, you will be given genuine ownership, the chance to challenge and improve how we work, and the opportunity to help grow the capabilities and influence of our actuarial department.
As an Actuary, you’ll play a pivotal role in our actuarial team, driving the quarterly reserving process and annual capital calculations while working closely with colleagues across finance and the front office. This opportunity suits a newly qualified or experienced actuary with a non-life background, strong technical skills and a proactive approach. You will have genuine ownership of your work, the chance to challenge and improve how we do things, and the opportunity to help grow the capabilities and influence of the actuarial department. No prior knowledge of the marine industry is required. We’re looking for drive, curiosity and a willingness to learn, with support from experienced colleagues along the way.
We recognise the business benefits of having a diverse and inclusive community.We all have something unique to bring to the table and by embracing those differences we seek to build and maintain an environment which attracts and values diversity and where everyone can develop their talents and be themselves. For us, diversity and inclusion goes above and beyond focusing on protected characteristics – we want all our colleagues to bring 100% of themselves to work. With a happy and engaged workforce we all strive to work together to be the best that we can be for the mutual benefit of ourselves and our Members.
Overall responsibility of the role:
To drive the Club’s quarterly reserving and annual capital calculation processes, and to provide actuarial support to colleagues across reinsurance, business planning and pricing.
Role Responsibilities:
- To lead the quarterly reserving process, including data preparation and validation, actuarial analysis and written reports.
- To prepare quarterly regulatory return inputs, including Solvency II and IFRS 17 technical provisions, as required.
- To lead the analysis and calculations for the Club’s annual capital calculation, ORSA process and regulatory returns.
- To support the preparation of regular and ad-hoc regulatory information requests.
- To review and challenge current reserving methods, and propose new or additional approaches.
- To support the ongoing development of the Club’s pricing model.
- To provide actuarial input to business planning, reinsurance renewal and rating agency information.
- To liaise with internal and external auditors, aiming to improve best practice and achieve smooth audit processes and successful results.
Experience required:
- Qualified actuary (FIA or equivalent), either newly qualified or experienced, with non-life experience.
- Practical reserving experience, ideally including Solvency II technical provisions and IFRS 17.
- Working knowledge of the Solvency II regulatory framework.
- Strong technical skills, with a high level of proficiency in Excel and R.
- Excellent written and verbal communication skills, with the ability to build strong relationships with finance and front-office colleagues.
- Personal drive, a proactive approach and a willingness to learn and get involved in new areas.
- Ability to work independently as well as collaboratively as part of a team.
- Knowledge of the International Group of P&I clubs and its structure would be useful but is not essential.
Candidates must be eligible to work in the UK.
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Actuary employer: The Shipowners Club
The Shipowners’ Club is an excellent employer, offering a supportive and inclusive work environment in the heart of London. As a Finance Assistant, you will benefit from a hybrid working model, opportunities for professional growth, and the chance to learn from an experienced team in a well-respected mutual insurance association. With a commitment to diversity and employee engagement, we strive to create a workplace where everyone can thrive and contribute their unique talents.
