Senior Actuarial Analyst - Reserving Control

at  Liberty Specialty Markets

GENERAL INFORMATION

City: London
Country: United Kingdom of Great Britain and Northern Ireland
Creation Date: 16-Aug-2024
Employment Type: Permanent
Employment Type: Full time
Ref #: 1234571068

SKILLS AND EXPERIENCE:

• Nearly/newly qualified actuary (open to non-actuarial applicants with good reserving knowledge)
• London Market reserving exposure with a broad knowledge of specialty (re)insurance portfolios. Relevant experience from consulting, commercial or personal lines also welcomed. Ability to interpret the figures for sense checking as well as run the process.
• Strong IT skills – advanced knowledge of MS Excel and the standard MS Office suite is essential. Other experience of working with other big data manipulation and visualisation software such as SQL and Power BI or similar would also be an advantage (although not a starting pre-requisite) for the role, as would analytics coding experience in packages such as R, Python or similar
• Analytical problem solver with outstanding verbal and written skills, communicating with a range of internal and external clients of varying experience, expertise and appreciation of actuarial techniques
• Comfort working with complexity and explaining this to others in a clear way.
• Strong organisational skills for scheduling deliverables and stakeholder input
• Works under limited management supervision. This means that technical supervision on day-to-day matters is not often required but is required for novel situations and development or project work.
• A growth mindset - highly focused, motivated and committed to ongoing personal learning and development.
• Ability to work independently and as part of a wider team as well as during periods of change and transformation.

ROLE TITLE: SENIOR ACTUARIAL ANALYST - RESERVING CONTROL

Department: Actuarial
Team: Actuarial Reserving
Location: Hybrid Working Model with Office in London
Type: Permanent
About the Department & Team:

The Actuarial Function evaluates business performance and provides management with a clear, risk-based view for making decisions on business strategy and risk mitigation. The department covers all aspects of actuarial work including pricing, reserving, business planning, and capital, and suporting exposure management and reinsurance purchasing. The team operates on a global basis with a team of around ninety actuaries, of which around sixty are based in the UK. The Actuarial Function currently comprises the following core teams:

• Pillar Teams: business partners to Underwriting and aligned business functions, responsible for class-level pricing, business planning and capital premium risk parameterisation. Multi-functional teams and roles managing, strongly supported with a core centralised data, analytics, modelling, reporting and risk governance infrastructure provided by the other Actuarial teams outlined below.
• Pricing and Analytics Team: a broad and varied remit supporting delivery on key strategic priorities, including delivering new pricing models on leading-edge platforms as part of the wider underwriting transformation. Developing new predictive models and delivering consistent and scalable Actuarial pricing and portfolio analytics MI (Management Information) and standards across LII and LMRe, working closely with Pillar Actuaries and Underwriting.
• Reserving Team: responsible for actuarial reserving analysis across LII Commercial & Specialty and LMRe businesses providing transparent and independent view of business performance through consistently applied reserving best practice. Acting as independent trusted advisors to the business, the team is responsible for objectively communicating the quarterly reserve analyses with insight and confidence
• Actuarial Modelling Team: Maintains and develops the Internal Model for capital assessment and solvency reporting requirements of the legal entities. Working closely with the Actuarial teams above and other LII and LMRe Enterprise Risk Management and Finance business functions in parameterisation, validation and modelling infrastructure; supporting risk and return on equity-based decision making across the business.

ABOUT THE ROLE:

The Snr. Analyst (Reserving Control) will have a core responsibility for the management of the reserving process. They will ensure the robust and timely facilitation of the reserving team’s analyses and reporting of results to a diverse set of stakeholders. This will involve the design, delivery, development and maintenance of the core processes in the team.

KEY RESPONSIBILITIES:

• Facilitate the quarterly US GAAP reserving process (gross and net of outwards reinsurance) across all LII/LMRe metalines and regional units.
• Co-ordination support for the reserving process across the team e.g. managing the calendar for delivery, handoffs, data readiness
• Delivery of the reserving process e.g. managing key files/templates that the team use, systems use, results database population
• Provide control and rigour around the operation of the process to ensure results (and process) are robust
• Ensure that the deliverables of the Actuarial Function are timely, accurate and fit for purpose
• Development and improvement of all reserving processes and tools. Support the successful delivery of the process transformation involving tactical and strategic process improvement initiatives.
• Be a trusted advisor for reserving process questions – understand how the big picture of reserving fits together to ensure process solutions meet all downstream needs.
• Provide the highest quality professional service, underpinned by technical rigor, transparency and consistency in all aspects of the above responsibilities.
• Development, supervision and support of more junior analysts.
• Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to Liberty Mutual’s commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. We expect you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules, Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing