Actuarial Associate

3 weeks ago


London, Greater London, United Kingdom Starr Insurance Companies Full time
Company Overview:

Starr Insurance Companies stands as a prominent entity in the insurance and investment sector, offering a wide range of commercial property and casualty insurance solutions, including travel and accident coverage, tailored for diverse businesses and industries globally.

Historical Background:

Founded by Cornelius Vander Starr in 1919 in Shanghai, China, our organization has rapidly expanded and now operates in 128 countries across six continents.

Role Overview:

The primary objective of this position is to support the reserving team in conducting reserve evaluations, particularly within the Casualty lines of business. Additionally, the role encompasses aiding the Solvency II reporting process, which includes Pillar III reporting, Technical Provisions, and Standard Formula capital calculations.

Key Responsibilities:
  • Assist in drafting reports for designated lines of business across all Starr Entities, involving data analysis, ultimate loss ratio selections, and reserve documentation.
  • Contribute to loss ratio evaluations that inform the business planning process, while also supporting the Reserving Team with various ad-hoc inquiries and analyses.
  • Commit to the continuous enhancement of the reserving process within the organization, focusing on efficiency improvements and advancements in Actuarial Management Information (MI), utilizing both Power BI and Excel for reporting.
  • Support the calculation and reporting of Solvency II Technical Provisions, including analyzing changes in Technical Provisions and Own Funds, and drafting Actuarial Function Reports.
  • Assist in the development and presentation of management information for senior leadership, including monthly Actual versus Expected reports.
  • Collaborate with the Capital Team on Solvency II Standard Formula SCR calculations across all Starr Entities.
  • Provide support to the Capital Team in addressing the growing business demand for Return on Equity calculations.
  • Facilitate collaboration with independent external actuaries and auditors during their annual reserve analyses, and report any suspicions of financial misconduct to the Money Laundering Reporting Officer without delay.
  • Adhere to the Company’s standards for Treating Customers Fairly, managing potential conflicts of interest to uphold the integrity of the organization, and promptly inform Compliance of any complaints.
Performance Metrics:
  • Conduct analyses with appropriate guidance while ensuring accuracy in self-review.
  • Effectively collaborate with colleagues on cross-functional projects.
  • Manage personal time efficiently while seeking guidance on prioritization.
  • Assist in the timely execution of the quarterly reserving process according to established deadlines.
  • Support the delivery of Solvency II deadlines to relevant regulatory bodies.
  • Ensure the accuracy of information, including Reserving, Management Information, and SCR.
Diversity and Inclusion:

Starr is committed to being an equal opportunity employer, considering all qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status, or any other protected characteristic. We prioritize merit-based recruitment and development, fostering an inclusive environment for all employees. Our organization offers exceptional training and development opportunities, aiming to cultivate talent and maximize individual potential.
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