Actuarial Analyst

1 month ago

London, Greater London, United Kingdom Liberty Specialty Markets Full time
Role Title: Actuarial Analyst (rotational)

Department: Investment team, Finance Department (first rotation)

Location: London

Type: Permanent

About the Role:

The rotational Actuarial Analyst will enter the Actuarial Development Programme (ADP) which allows for the development of the student community in a consistent, sustainable, structured manner to support a diverse analytical and business skillset to meet current and future business needs.

Rotations between teams is a key component of the Actuarial Development Program and supports three objectives:
  • Facilitate the professional development of employees
  • Develop broad subject matter expertise and analytical skills
  • Enhance business value by incorporating a diversity of perspectives across teams
It is expected that the Actuarial Analyst will study towards an actuarial qualification, supported by a study package as set out in Liberty's Actuarial Professional Qualification Policy.

About the Departments & Teams:

The ADP spans both the Actuarial Function and the Investment team (which sits in the Finance Function). The first rotation for this role will be in the Investment team.

Overviews of each of the teams involved in the ADP are outlined below.

Investment Team Rotation

• Support the Market Risk Actuary with understanding the business's Market Risk exposure:
  • Calculation of the Standard Formula and Internal Model Market Risk SCR
  • Internal Model validation for the Economic Scenario Generator and the Market Risk SCR, including drafting validation testing results and conclusions
  • Quantifying the capital impact of investment portfolio changes, to support investment strategy reviews

• Support the Senior Analyst - Investment Strategy with monitoring the investment portfolio:
  • Quarterly delivery of investment reporting, including committee papers covering investment performance and risk
  • Continuous improvement of existing reporting processes and tools
Business Actuary Team Rotation

Work with the actuaries and senior actuaries to partner with Underwriting and aligned business functions. Responsibilities within this function include, but is not limited to:
  • Individual account pricing and performance monitoring
  • Support and development of underwriting rating tools
  • Provision and improvement of monthly renewal rate monitoring and rate adequacy information
  • Portfolio profitability analysis for both new business and existing opportunities
  • Maintains and develops the Internal Model for capital assessment and solvency reporting requirements of the regulated Legal Entities.
  • Works closely with the other actuarial teams, risk, exposure management and Finance business functions in parameterisation, validation and modelling infrastructure; enhancing models on new and emerging risk (e.g. Cyber, Liability Cat) supporting a holistic view of risk and return on equity-based decision making across the business.
  • Supporting both local and global group pricing standards, analytics and new product initiatives. Close communication and strong working relationships with Underwriters
Centralised Pricing and Analytics Team Rotation

• Work to deliver the next generation of pricing models on leading-edge platforms as part of the wider underwriting transformation to increase our pricing sophistication, the quality and enhancement of our data, functionality, user experience, and speed of model build/maintenance

• Work on an array of scalable predictive/analytical projects to support data driven decision making, working closely with Pillar, Underwriting, Claims and Portfolio Management teams. Including:
  • Risk Ranking/Selection models
  • Portfolio Optimisation analytics
  • Actuarial MI

• Support Pricing Governance including but not limited to:
  • Collate and report on key pricing metrics (rate change, retention, expected loss ratios etc.)
  • Enhance and maintain pricing policy including model inventories and usage reviews
Reserving and Regulatory Reporting Rotation:

Responsibilities within the reserving function may include:
  • Work to deliver timely production of the LSM & LMRe reserve analyses and production of gross and net US GAAP results. This includes support across data, assumption setting, tools and reporting infrastructure.
  • Support the underwriters and other business functions with queries on the actuarial analysis and results, ensuring a strong feedback loop. The role will involve the production of insightful MI. Key stakeholders include finance, claims, underwriting, senior management, Corporate Actuarial, risk and audit (both internal and external).
  • Support the actuarial function in delivering on its regulatory and legal entity responsibilities.
  • Contribute to the successful transition to an independent reserving function including the development of the analysis and reporting infrastructure, seeking opportunities to develop existing and new processes.
  • Coordinate regulatory reporting requirements related to GAAP and SII Technical Provisions, including meeting the regulatory requirements of the Actuarial Function in the UK and Luxembourg.
Actuarial Modelling Rotation:

• 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 LSM and LMRe's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. LSM and LMRe expects 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.

Key Responsibilities:
  • Gaining experience in different business functions and products
  • Building strong networks and working relationships with actuarial and non-actuarial colleagues
Skills and Experience:
  • Analyst level candidates, actively progressing towards qualified Actuary.
  • A commitment to achieving a Fellowship designation in the IFOA or equivalent Actuarial Society (such as the Casualty Actuarial Society).
  • Educated to degree level with strong mathematical skills
  • Desire to work across a variety of actuarial functions and environments
  • Natural curiosity and problem-solving skills
About Liberty Specialty Markets (LSM)

Liberty Specialty Markets is part Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.

For more information, please follow the links below:



About Liberty Mutual Reinsurance (LM Re)

Liberty Mutual Reinsurance, is the dedicated business unit for global Reinsurance within LSM, backed by the strength and long-term view of our parent, Liberty Mutual Insurance. We provide flexible and wide-ranging solutions our clients demand through a global network of experts, across five underwriting platforms, and a comprehensive product range.

The primary office locations for Reinsurance Underwriting are Cologne, London, Paris, Stamford, and Bermuda.

You can learn more by visiting

Our people are key to our success. That is why "Put People First" is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:

• Offering a vibrant and inclusive environment and committing to their career development.

• Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.

• Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.

• A supportive culture, which includes promoting a healthy work-life balance and working flexibly.

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