• Perform statutory reserve estimations. Prepare and process reserving data, construct claims triangles and perform initial reserving analysis under the UK GAAP framework on quarterly basis.
• Perform simplified reserving calculations on a monthly basis between quarter ends.
• Lead the calculations of the Technical Provisions under the Solvency II regulations on quarterly basis.
• Analyse movements in reserves and the differences between the UK GAAP reserves and the Solvency II Technical Provisions. Provide justifications on the differences.
• Make sure the reserving processes are followed and reserving policies are maintained.
• Contribute to enhancement of the reserving and reporting processes.
• Maintain and enhance the reserving database. Perform data quality checks as required.
• Provide Actual vs Expected (AvE) analysis of claims development.
• Produce information supporting reserve analyses, including reserve reports and exhibits.
• Support external auditors in their annual audit of reserves for all lines of business.
• Support calculation of reserves for inclusion in capital modelling work. Contribute to the relevant parts of the Standard Formula calculations.
• Support the Head of Actuarial in other reserving related tasks and projects, such as financial budgeting and forecasting.
• Support senior management and other functions by supplying premiums and claims analyses and data summaries.
• Assist with PRA, rating agency, and group reporting requirements as required, such as the creation of the Quantitative Reporting Template and the National specific template.
• Assist in the creation of other Pillar III reports, such as the ORSA, SFCR, RSR and the Actuarial Function Report where required.
• Lead the actuarial work in the Group’s IFRS17 Transformation project.
• Contribute to the construction of the actuarial pricing model and rating review when required.
• 5+ years' work experience in related job in general insurance market.
• Bachelor's degree or above in actuarial science, mathematics, statistics or related fields.
• Knowledge of actuarial reserving techniques and principles.
• Understanding of the requirements of Solvency II.
• Strong analytical capabilities and problem-solving skills. Strong data processing abilities.
• Excellent in MS Suite (e.g. Excel, Word, PowerPoint and Access).
• Excellent written and verbal communication skills.
• Past experience in reserving, financial reporting or related.
• Student Actuary making good progress though the IFoA examinations.
• Good knowledge of VBA and SQL coding.
• Competent in managing own workload and working on own initiative and in project managing delivery on multiple tasks.
• Strong commercial understanding and business awareness.
• Chinese Mandarin or Cantonese would be a plus but not essential.
If you are interested in applying for the role, or have any questions, please send your CV or your questions to HR@uk.cntaiping.com