Job Description
Role Level D, Role Classification Senior Analyst Department Group Reserving
Since Aspen was founded in 2002, we have become a leading, diversified specialty insurance and reinsurance company. We respond thoughtfully and creatively to find the best outcomes for our clients and business partners through carefully-tailored solutions.
We believe the way we work is just as important as the work we do, and we are guided by our core values of respect, honesty, trust and professionalism.
Aspen is a great place to develop your career offering an exciting and challenging environment where achievement is rewarded .
The Role
* To oversee the monthly processing of claims and premiums data performed by the Reserving Systems Analyst, which covers all lines of business as part of the quarterly reserving exercise.
* To take responsibility for the production, accuracy, and design of the models and processes used by the Group Reserving Team to accomplish their analysis.
* To be the primary point of contact for the Group Reserving Team, responding to queries in timely fashion, particularly during the quarterly reserving exercise, and to remain cognizant of their deadlines.
* To solicit feedback from the Group Reserving Team on all aspects of the end-to-end reserving process, and curate this into well-defined improvements which can feed into the broader reserving transformation project.
* To become a recognised expert in the data sources and systems used by the Actuarial team, and use this knowledge to confidently respond to questions from other Aspen teams outside of Actuarial, such as Claims, Finance, or IT.
* To become an expert in the key procedures, tables and objects within the Reserving SQL database that are used during the quarterly reserving exercise and be able to identify how the code has generated the final datasets.
* To become an expert in the reporting capabilities of the Reserving SQL database and be able to advise which reports will be most appropriate when internal or external data requests are received.
* To contribute to the development of additional reporting and analytical capabilities within the Actuarial team and more widely across Aspen, with a focus on using data visualisation techniques to create insights.
* To contribute to the training of the Group Reserving Team on the tools available for investigation, analysis, and reporting.
* To be the expert on the controls framework governing the quarterly reserving exercise, and attest to the compliance of the SOx controls and reconciliation processes in line with the audit timelines.
* To satisfy internal and external auditors that the Reserving database, models and processes adhere to relevant internal and external governance requirements.
* To lead walkthroughs to internal and external auditors of the reserving process documentation and controls.
Our Aspen Values are expected to be reflected in the delivery and performance of every role."
Key Accountabilities
* Remains constantly up to date with the evolving quarterly reserving exercise, including changes brought about through the reserving transformation project, and anticipates impacts on the month-end claims and premiums data processing, the controls and documentation.
* Assist in the design and implementation of improvements to the Reserving systems, to ensure these are in line with business requirements, reflect key priorities, and are delivered in the agreed timeframes.
* Determines own work priorities and activities in line with agreed plans to ensure the achievement of the function's objectives.
* Ensures the Reserving database, models and processes adhere to relevant internal and external governance requirements at all times.
* Prioritises tasks that enable the Reserving Team to meet the timelines of the quarterly reserving exercise.
* Oversees the month-end process with minimal input from the Head of Reserving Data and Transformation.
* Maintains up-to-date documentation and reconciliations for all aspects of the quarterly Reserving exercise.
* Develops expertise in the key procedures, tables and objects within the SQL database that are used during the quarterly reserving exercise and can identify how the code has generated the final datasets.
* Uses appropriate version control of the code and models when developing new solutions.
* Creates appropriate test plans and overseas user-acceptance testing (UAT) for code changes to support the implementation of necessary bug fixes and general improvements as part of Aspen change control process.
* Identifies and/or supports improvement in responsiveness and reliability of the Reserving models and process to provide greater stability and improved user experience.
* Identifies and effectively communicates why datasets contain the current results in answer to queries from Reserving Team
Knowledge, Skills, & Experience
* Intermediate VBA knowledge.
* Basic knowledge of computer hardware/software systems.
* Aspen Business Knowledge.
* Good London Market Insurance knowledge.
* Excellent knowledge of typical end-to-end reserving process workflows.
* Understanding of both internal business drivers and industry dynamics.
* Understanding of underlying needs of the business and how own role contributes to these.
* Advanced user of MS Excel.
* Intermediate user of SQL, with desire to get more exposure.
* Understands the fundamentals of query writing in SQL, or other programming languages.
* Able to create reports in Microsoft PowerBI or SQL Server Reporting Services.
* Eager to learn and provide training to others.
* Ability to build and maintain effective relationships with colleagues across departments while remaining committed to providing quality results with positive service.
* Able to explain technical solutions to audiences who do not have an actuarial or IT background.
At Aspen we know that having a diverse and inclusive workforce is good for our people, good for our business and good for the environments in which we operate. We therefore welcome applications from people which allows us to draw on diverse cultures, perspectives, skills and experiences.