Reserving Actuarial Analyst

Location:London Posted:2022-09-04
Job description

• 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.

Requirements

Essential

• 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.

Preferred

• 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.  

Contact details

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