Reserving and Capital Actuary - Job Description

We are seeking an experienced and dynamic professional to join our team as nearly/newly qualified general insurance actuary. To support the development of the in-house actuarial function, by optimising the reserving and financial reporting and contributing to the continual improvement of the company’s understanding of risk and exposure.

This is a broad role requiring experience and understanding of commercial GI capital and reserving. It offers the ability for [the candidate] to develop their skills in these areas, working directly with the Reserving Manager, Chief Actuary and members of the Management Board to deliver on varied aspects of actuarial work for a London market P&I insurer.

Key Responsibilities (including but not limited to):

- Calculation of the quarterly best estimate reserves (including further design, refinement and modification of the current process)

- Support Capital and Reporting Requirements through:

  • Calculation of the technical provisions and the ongoing maintenance of the SII TPs model and Standard Formula SCR models in line with updates to the directives from EIOPA and CAA (Luxembourg)
  • Preparation of the SII QRTs
  • Clear communication of results, including key sensitivities and uncertainties
  • Capital and reporting requirements for branches in Bermuda, Hong Kong, Singapore, and the UK

- Monitoring and reporting on underwriting exposure

- Monitoring and reporting on claims experience

- Modelling the placement of the outwards reinsurance programme

- Other ad hoc analysis as required by the business

Qualifications and Skills

- Nearly/ Newly qualified actuary

- London market/general insurance background

- Strong technical background in reserving and capital including:

- Delivery of Best Estimate reserves for a commercial insurer

- Calculation of SII TPs & reporting

- SII Standard Formula

- IT Skills:

  • Experience with reserving software
  • Ability to process and interpret large data sets
  • Advanced level of MS Excel
  • Coding experience

- Pro-active approach and keenness to take ownerships of tasks

- Good communication skills

- Proven ability to develop and maintain effective working relationships

- Able to present analysis clearly, orally and in writing

- Comfortable peer reviewing and challenging actuarial work

- Able to deal with ambiguity and use judgement to come up with appropriate solutions

- Understanding of wider business context and how the work of the actuarial team impacts the business


- Stochastic modelling using VBA, @Risk or similar

- Knowledge of the SII regulatory framework and SII reporting experience

- IFRS 17 experience

If you wish to be considered for this role, please email us your CV and salary expectations along with a brief summary of the role you would like to apply for.