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- Tasks: Join our team as a Reserving Actuary, focusing on reserve analyses and technical provisions.
- Company: Be part of a leading firm in the London and Lloyd’s market, known for innovation.
- Benefits: Enjoy flexible working options, professional development opportunities, and a collaborative culture.
- Why this job: Make an impact with your analytical skills while building relationships across various teams.
- Qualifications: You need a degree in Mathematics, 5+ years of reserving experience, and strong programming skills.
- Other info: Pursue your Actuarial qualification while working in a dynamic and supportive environment.
The predicted salary is between 48000 - 72000 £ per year.
Company Details
Education & Qualifications
- University degree in Mathematics or an analytical discipline.
- Qualified or nearly qualified fellow of the Institute of Actuaries.
Skills and Abilities
- Knowledge and prior reserving experience of the London and Lloyd’s market.
- Experience in building reserving models & ad hoc analyses.
- Strong analytical and problem solving skills.
- Strong communication and people skills.
- Excellent MS Office skills including Word, Excel, Access.
- Knowledge of ResQ.
- Strong general programming skills (e.g. SQL, Python, R).
Knowledge & Experience
- 5+ years previous non-life reserving experience.
- An understanding of Solvency II concepts.
Aptitude and Disposition
- Strong analytical skills, and the ability to find solutions to complex problems.
- Attention to detail.
- Outcome focused, self-motivated, flexible and enthusiastic.
- Ability to manage competing priorities.
- Strong interpersonal skills with a proven ability to communicate effectively with stakeholders at various levels, both verbally and in writing.
- Able to develop relationships at all levels.
- A “can do” solution driven working style.
Responsibilities
The Reserving function provides reserve analyses and results under GAAP & Solvency II. The team produce Technical Provisions and Reserve Risk assumptions used in the Capital model. The role is focused on Reserving and Technical Provisions, but will also include exposure to Capital modelling and Pricing. It is expected that the job holder will pursue an Actuarial qualification or appropriate CPD.
Specific responsibilities:
- Review, update and maintain assumptions within the GAAP reserving process.
- Produce monthly and quarterly gross and reinsurance estimates for GAAP reserving.
- Produce required analysis of Reserve Risk parameters for Capital Modelling.
- Produce required analysis of Solvency II Technical Provisions.
- Maintain and develop understanding of latest Solvency II regulations and ensure compliance.
- Develop data analysis processes, and constantly looking to enhance and improve those processes already in place.
- Undertaking research and development.
- Maintain strong relationships with Underwriting, Claims, Finance and Management information teams to ensure timely production of actuarial reviews.
- Assist liaison with the WRB Corporate Actuarial team.
- Interaction and the building of strong working relationships with key stakeholders and may require presentation within committees, meetings etc.
- Liaise with internal and external audit.
- Liaise with external actuaries performing an independent review for the Statement of Actuarial Opinion.
- Produce ad hoc analyses to support reserve reviews.
Reserving Actuary employer: W. R. Berkley Corporation
Contact Detail:
W. R. Berkley Corporation Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Reserving Actuary
✨Tip Number 1
Network with professionals in the London and Lloyd's market. Attend industry events, webinars, or local meetups to connect with actuaries and gain insights into the reserving landscape. This can help you learn about unadvertised opportunities and get referrals.
✨Tip Number 2
Familiarise yourself with the latest Solvency II regulations and how they impact reserving practices. Being well-versed in these concepts will not only enhance your knowledge but also demonstrate your commitment to staying updated in the field during interviews.
✨Tip Number 3
Showcase your programming skills by working on personal projects or contributing to open-source initiatives using SQL, Python, or R. This practical experience can set you apart from other candidates and provide concrete examples to discuss during interviews.
✨Tip Number 4
Prepare to discuss your analytical problem-solving approach in detail. Think of specific examples where you've successfully tackled complex issues in reserving or related areas, as this will highlight your capability to handle the responsibilities of the role effectively.
We think you need these skills to ace Reserving Actuary
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your relevant experience in reserving and technical provisions. Emphasise your qualifications, particularly your degree in Mathematics or an analytical discipline, and any actuarial qualifications you hold.
Craft a Strong Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Mention specific skills that align with the job description, such as your knowledge of Solvency II concepts and experience with programming languages like SQL or Python.
Showcase Your Analytical Skills: Provide examples in your application that demonstrate your strong analytical and problem-solving skills. Discuss any previous projects where you built reserving models or conducted ad hoc analyses, highlighting your attention to detail.
Highlight Communication Abilities: Since strong communication skills are essential for this role, include instances where you've effectively communicated complex information to stakeholders. This could be through presentations, reports, or collaborative projects.
How to prepare for a job interview at W. R. Berkley Corporation
✨Showcase Your Analytical Skills
As a Reserving Actuary, strong analytical skills are crucial. Be prepared to discuss specific examples of how you've tackled complex problems in your previous roles, particularly in the context of reserving models and analyses.
✨Demonstrate Knowledge of Solvency II
Make sure you understand the latest Solvency II regulations and be ready to explain how they impact reserving processes. This shows that you're not only knowledgeable but also proactive in staying updated with industry standards.
✨Highlight Your Communication Skills
Since the role involves liaising with various teams, emphasise your strong communication abilities. Prepare to share instances where you've effectively communicated complex actuarial concepts to non-technical stakeholders.
✨Prepare for Technical Questions
Expect technical questions related to reserving models, GAAP, and Capital modelling. Brush up on your programming skills, especially in SQL, Python, or R, as these may come up during the interview.
