Head of Reserving

3 weeks ago

London, United Kingdom The Emerald Group Ltd, Search and Selection Full time

Job Description

My client is looking to hire a Group/Head of Reserving following a period of sustained growth. The role holder is responsible to deliver, on a day-to-day basis all reserving duties in a timely manner and all relevant information to the actuarial function holder, Chief Actuaries, AFH and reserving committees within the group, either directly or via service delivery SLAs in a timely manner.

On a strategic level, together with the executive management team, the Head of Reserving will be responsible for developing and implementing a group wide reserving process, aligned with the overall company goals and regulatory requirements in the different jurisdictions.

Overview of the role:

  • Lead the development and expansion of the overall Group Reserving strategy
  • The group wishes to inhouse certain aspects of the reserving process over time
  • Meet all reserving and regulatory requirements for the group as part of BAU. This will include reporting to Lloyd’s, PRA, MFSA and on a Solvency Basis. IFRS 17 reporting is unlikely, but knowledge would be an advantage
  • Build and lead the reserving team. The candidate will be required to support the development of the junior reserving staff and encourage their growth and career progression
  • Develop and provide relevant high-quality reporting and management Information to stakeholders on both a continuous BAU basis, and ad hoc
  • Build relationships, liaise and work closely with internal and external parties as required
  • There will be heavy interaction with the outsourced reserving actuaries, claims team, group finance, auditors, regulators (incl. Lloyd’s, PRA, MFSA etc), entity boards etc
  • Attend and contribute to meetings of committees/boards
  • Close corporation with the capital modelling team is expected
  • Maintain an appropriate level of continued professional development
  • Implement industry best practice in relation to reserving standards

Candidate requirements:

  • Qualified Actuary (Fellowship level) with a recognised actuarial body
  • Ability to manage upwards as well as sideways and down
  • Proven history of an ability to build relationships with stakeholders
  • Ability to deal with challenging discussions in a manner that generates positive results
  • Strategic thinker with hands on attitude. The candidate should expect to get into the technical detail of the reserving work
  • Proven analytical problem-solving experience and delivery of results orientated solutions
  • Lloyd’s market experience and several years of reserving experience are essential
  • Sound knowledge of actuarial reserving methodologies, approaches and industry best practice
  • Knowledge in the capital modelling space is an advantage
  • Advanced user of Microsoft VBA, R or any other relevant programming language helpful
  • Excellent communication skills
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