Description: An exciting opportunity to join Beazley’s reserving team in a varied role including actuarial reserving, responding to auditor queries and calculating specific group reinsurance covers. Working within an established and experienced London Market reserving team setting provisions for our Lloyd’s, US and European entities, and engaging with a wide array of stakeholders. This role would suit someone who has been working in reserving for 2 or 3 years and is looking to get a broader understanding of how an insurance company operates.
Key Responsibilities
Technical
- Perform the calculation of specific group reinsurance covers and present the results to key stakeholders
- Respond to queries from our auditors and external actuaries on a wide range of questions spanning all of Beazley’s lines of business
- Perform the construction of the loss development triangles, an integral part of our annual reporting and accounts
- Assist in projects undertaken by the actuarial team e.g. inflation analyses, business planning analyses and the delivery of group-wide strategic projects
- Assist in performing the quarterly reserving on a range of classes of business and undertake deep dive analysis on classes as required and maintain evidence of valuation assumptions
- Perform the necessary reconciliation checks to provide assurance on the valuation outputs
- Contribute to the reporting of results of actuarial valuations and analyses to the relevant stakeholders and committees
- Work with the reserving actuaries, claims managers and underwriters on the calculation and communication of reserve uncertainty/ranges
- Work with the Finance, Data Management and Ceded Reinsurance teams to produce and reconcile the data for the valuation processes
- Contribute to the maintenance of reserving documentation with the required frequency, adhering to the review requirements and obtaining the appropriate sign-offs
- Build and maintain constructive working arrangements with those groups identified as being key to your role including Finance, Claims, Underwriting and Data Management.
- Operate as an effective team member by supporting colleagues and contributing in the delivery and achievement of overall team and business objectives
- Keep abreast of industry best practice, new initiatives and changes in regulatory requirements
- Contribute to improving the valuation processes and methodologies
- Undertake applicable professional, technical and career development training (delivered internally and externally) to include attainment of associated qualifications where required.
Personal Specification
Education and Qualifications
- University degree in Mathematics or related field
- Progressing towards an actuarial qualification
Skills And Abilities
- General commercial and financial knowledge
- Experience with ResQ reserving software preferable
- Competent user of MS Excel; VBA, SQL, Python, R or Power BI skills desirable
- Strong analytical skills with attention to detail; accurate and numerate
- Able to communicate effectively both verbally and in writing
- Team worker as well as able to work on own initiative
- Ability to manage time, work on a number of tasks in parallel, meet deadlines and prioritise
Knowledge and Experience
- Reserving experience; Lloyd’s market knowledge desirable
- Command of basic actuarial techniques
- Understanding of reinsurance
Aptitude and Disposition
- Outcome focused, self-motivated, flexible and enthusiastic
- Professional approach to successfully interact with team members and stakeholders
Competencies
- Achievement and solution focused
- Analytical
- Information seeking
- Stakeholder focus
- Using initiative
- Having integrity
- Taking responsibility
- Being reliable
- Attention to detail
