General
Job Title: Reserving Actuary
Open to candidates who are part qualified or working in a data-driven or analytical field, wishing to begin their actuarial studies. The role is suited to individuals with strong Excel skills and an ability to build and automate processes. Prior industry experience is not mandatory; backgrounds in personal lines, life, employee benefits, and consulting are all considered.
Description: Actuarial reserving for Beazley, including responding to auditor queries and calculating specific group reinsurance covers. The role involves working within an established London Market reserving team to set provisions for Lloyd’s, US, and European entities, engaging with various stakeholders.
Key Responsibilities
* Respond to queries from auditors and external actuaries.
* Perform calculations for specific group reinsurance covers.
* Construct loss development triangles for reports and accounts.
* Assist in projects such as M&A, business planning analyses, and strategic initiatives.
* Conduct quarterly reserving across various classes of business, including deep dive analyses and maintaining valuation evidence.
* Perform reconciliation checks to ensure valuation accuracy.
* Contribute to the reporting of actuarial valuation results to stakeholders and committees.
* Collaborate with reserving actuaries, claims managers, and underwriters on reserve uncertainty communication.
* Work with Finance, Data Management, and Ceded Reinsurance teams to ensure data accuracy for valuations.
* Maintain reserving documentation, ensuring review and sign-offs.
* Build effective working relationships with key groups such as Finance, Claims, Underwriting, and Data Management.
* Support team objectives and contribute to continuous improvement of processes and methodologies.
* Stay updated on industry best practices and regulatory changes.
* Engage in professional and technical development, including relevant qualifications.
Personal Specification
Education and Qualifications
* University degree in Mathematics or a related field.
* Progressing towards an actuarial qualification.
Skills and Abilities
* General financial and commercial knowledge.
* Experience with ResQ reserving software preferred.
* Proficiency in MS Excel; VBA, SQL, Python, R, or Power BI skills are desirable.
* Strong analytical skills with attention to detail.
* Effective verbal and written communication.
* Team player with initiative.
* Time management skills to handle multiple tasks and meet deadlines.
Knowledge and Experience
* Reserving experience; Lloyd’s market knowledge is advantageous.
* Basic understanding of actuarial techniques and reinsurance.
Aptitude and Disposition
* Outcome-focused, self-motivated, flexible, enthusiastic.
* Professional interaction with team members and stakeholders.
Core Competencies
* Achievement and solution-oriented.
* Analytical thinking.
* Information seeking.
* Stakeholder focus.
* Initiative.
* Integrity.
* Responsibility.
* Reliability.
* Attention to detail.
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