Reserving Projects Actuary

Main purpose of job

The Reserving Projects Actuary will play a crucial role in achieving market leading efficiency of Asta’s reserving processes.

The role will take ownership of Asta’s reserving tools and models and will help to choose and lead further projects as needed. Those projects would likely focus on achieving efficiency across Asta’s portfolio of syndicates, adapting to changes in external environment or requirements, or improving quality of management information.

The role includes supporting Asta’s syndicate reserving from a central viewpoint, including leading on updates of Asta’s benchmark assumptions database, developing solutions to thematic reserving issues as they arise, and supporting with setup and handover of reserving tools for new or migrating clients.

The role is expected to work independently under the supervision of the Deputy Chief Actuary/Chief Actuary. Where appropriate, the role will delegate and manage small teams to deliver allocated work.

Key tasks

• Lead reserving projects as needed to achieve efficiency for Asta’s reserving across its portfolio of managed syndicates, meet any changes in external requirements, or improve client service. Contribute to decisions on which projects to focus on.
• Maintain existing GAAP and SII reserving models to meet business needs. Update the models for changes in reporting requirements, data sources, benchmarks, software, and changes in use of reserves.
• Lead Asta’s annual benchmark assumptions database update.
• Develop solutions to thematic reserving issues, with (Deputy) Chief Actuary guidance.
• Provide training to the actuarial team on reserving models and thematic issues.
• Contribute to Reserving Risk and AFR reporting.
• Assist with reserving model specification and setup for new clients, and offboarding of clients including handover of tools to clients and advising on integration with client systems.
• Ad-hoc review support of BAU reserving.
• Ad-hoc support of due diligence of new clients.
• Interact with other Asta departments to assist with delivery of wider Asta reports.
• Develop an understanding of the risks and controls relevant to the actuarial function, operate within the prescribed procedures and guidelines and report / discuss issues with line manager.

Key Personal Skills Required

• High level of accuracy and attention to detail.
• Strategic mindset with a focus on innovation, problem-solving, and continuous improvement.
• Good organisational skills with the ability to adapt to changing priorities and manage multiple deadlines.
• Ability to work collaboratively within a team and across the business.
• Excellent communication and interpersonal skills, with the ability to convey complex concepts to diverse audiences.

Key Technical Skills, Knowledge And Professional Qualifications Required

• At least 4 years of experience of general insurance actuarial reserving, ideally within the London Market.
• Being FIA Qualified Actuary is desirable but not required.
• Experience of General Insurance reserving is essential; experience in reserving process enhancement or transformation is desirable.
• Proficiency in relevant software tools, such as Psicle, Excel, VBA, SQL, and/or similar actuarial software packages.

To apply for this position please email [email protected]

The deadline for applications is 5th July 2024.

When contacting us please state where you heard about the role e.g. on our website or via LinkedIn.

Strictly no agency calls or emails please