Actuarial Reserving Analyst

6 months ago


London, United Kingdom CNA Hardy Full time

Job Profile

Function / Area: Actuarial & Risk

Reporting to: AVP, Reserving & Capital

Position Summary

The individual is an Analyst within the Reserving function at CNA Hardy in what is a role that gives great exposure to a range of products and territories and provides the potential for further career development. The role covers three risk-bearing entities; CNA Europe (CNA Insurance Company Limited, UK regulated), CNA Insurance Company Europe Limited (Luxembourg regulated) and Hardy Syndicate 382. The role benefits from being part of a well-established function with embedded systems and processes that have been continuously improved over recent years.

Key Responsibilities

An Analyst should be responsible for contributing and supporting in the following areas and activities:

Contribute to the development of the reserving function for CNA Hardy. Work closely with colleagues and management to ensure that all reserving processes operate in a timely and efficient manner. Carry out quarterly reserving for assigned product lines. Carry out CNA Hardy’s reserving investigations on assigned products, ensuring that adequate and accurate reserving estimates are produced and that methodologies are properly implemented Support testing and validation processes to provide assurance on the adequacy and accuracy of CNA Hardy’s reserves. Contribute to effective reserving governance processes. Ensure that reporting of the output of assigned reserve reviews is timely, efficient and well-documented. Communicate the output of reserve analyses to CNA Hardy management. Perform quarterly close process duties working closely with Finance and US-based Actuarial colleagues and ensuring that key validation and reporting is carried out. Assist with the production of quarterly and annual Solvency II Technical Provisions. Assist with the production of the Technical Provisions section of the Actuarial Function report. Assist with the production of premium estimates on a monthly basis, as required. Assist with work done with the Capital Modelling team advising and inputting on the modelling of Reserve Risk. Under the direction of management, liaise with auditors, external Actuarial consultants and CNA peer reviewers as appropriate.

Skills, Knowledge & Experience

Previous experience in an Actuarial discipline (Reserving, Pricing, Capital Modelling etc.) with a preference for a practitioner with a Reserving background. Demonstrable capability to take on more senior level roles in future career steps. Good commercial acumen and previous experience of working collaboratively across insurance disciplines in either a company or consulting environment: Underwriting, Executive Management, Claims, Finance, Reinsurance. Some Lloyd’s or London Market experience would be advantageous.  Good technical actuarial skills with a knowledge of various approaches and methodologies used across the industry. Understanding of regulatory reporting requirements; some experience in delivering upon regulatory requirements would be advantageous. Strong communicator. Ability to distil complex issues into insightful management information and to deliver results with confidence. Good knowledge of insurance and reinsurance products. Expert IT systems skills, comfortable using reserving software and an office environment and with acquiring new software skills.

Education and Experience

Student Actuary with a recognised professional body preferred. Educated to a minimum of degree level in a related field. Ideally 2 years Actuarial experience.

Additional Information

Company Overview

CNA Hardy is a leading specialist commercial insurance provider for clients within the Lloyd’s and company markets. We are part of CNA Financial Corp, the 8th largest U.S. commercial property and casualty insurance company. Established in 1897, CNA has approximately 7,000 employees, serving businesses and professionals in the U.S., Canada, Europe and Asia. We offer a wide range of products and services, providing a superior suite of insurance solutions that any organisation conducting business requires.

Why Choose CNA Hardy?

For us, the customer comes first.

Our winning proposition is our commitment to our customers: We offer more than just a policy – we deliver distinctive insurance solutions and we promise a superior customer service. How we deliver on this commitment is what sets us apart from the competition. Here are just some of the reasons you should choose us:

Our people: We recognise that our staff bring our commitment to our customers to life. Our priority is to be a great place to work so we continue to attract, retain and develop the best talent in the market. Our product offering: We develop innovative and specialised solutions by product and industry specialism and create certainty for customers through the delivery of underwriting and service excellence. This comprehensive global product offering supported by superior claim and risk control services is hard to replicate. Our relationships: We believe in building enduring relationships and want to focus our energy on partnering with customers and producers who value our approach and seek the same. Our track record: Our financial strength underpins our contract with our customers. We receive consistently high ratings from AM Best and Standard and Poor’s proving our ability to deliver on our commitment should the worst happen.

Treating Customers Fairly

We deal with our Customers in a professional, open and honest way at all times Designing and delivering products that meet their needs; Ensuring that no claims are unreasonably rejected; and Aiming to do things right the first time and putting them right if we get them wrong.

CNA is an equal opportunity employer



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