Lead Reserving Actuary - MAP Risks

Job Summary: The successful candidate will lead actuarial reserving and forecasting and perform ad hoc analysis as required, Technical

• Perform (as required) the quarterly reserving and trust fund valuations for Specialty Risks, Cyber Risks, Property Risks or MAP Risks classes of business


• Maintain evidence of valuation assumptions, perform the necessary reconciliation checks to provide assurance on the valuation outputs


• Contribute to reporting the results of actuarial valuations and analyses to the relevant stakeholders and committees


• Work with the reserving actuaries 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


• Support the work of external actuaries as required


• Build and maintain constructive working arrangements with those groups identified as being key to your role


• Operate as an effective team member by supporting colleagues and contributing in the delivery and achievement of overall team and business objectives. Provide support and mentoring to the assistant reserving actuaries, with potential for direct line management responsibilities.


• Peer review colleagues' work to provide quality assurance.


• Keep abreast of industry best practice, new initiatives and changes in regulatory requirements


• Become a technical expert and trusted advisor for management on reserving and related matters


• Contribute to improving the valuation processes and methodologies


• Assist in other projects undertaken by the actuarial team e.g. M&A and business planning analyses


• Undertake applicable professional, technical and career development training (delivered internally and externally) to include attainment of associated qualifications where required.


• General:


• It is important that within all your interactions both internally and externally you adhere Beazley's core values - Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:


• Comply with Beazley procedures, policies and regulations, including the code of conduct.


• Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or via the learning management system.


• Display business ethics that uphold the interests of all our customers.


• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.


• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley's underwriting control standards, Beazley's claims control standards, other Beazley standards and customer relationship management.


• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.
  
  University degree in Mathematics or related field


Professional actuarial qualification

Skills and Abilities

General commercial and financial knowledge

Experience with ResQ reserving software preferable

Competent user of MS Excel; VBA, Access, SQL, SAS, WPS and R 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

Knowledge of technical provisions for Solvency II preferred

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

Information seeking

Stakeholder focus

Using initiative

Having integrity

Taking responsibility

Being reliable