Head of Actuarial

4 weeks ago

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

Responsibilities:

  • Set up, review and improve the Actuarial Function Policy in line with the Company’s strategy. This shall be reviewed on annual basis, as well as contributing towards the Underwriting and Reserving Risks Policy
  • Establish and refine appropriate Reserving and Solvency II Technical Provision procedures to ensure the daily tasks can be carried out effectively and efficiently
  • Construct appropriate actuarial models to analyse technical liabilities accurately and effectively coordinate the calculation of technical provisions and ensure their reliability and adequacy, in order to achieve all the goals of the Company
  • Performs the risk modelling underlying the calculation of the SCR and MCR to meeting the UK regulatory and Company’s requirements
  • Inform the governing body, the Group and external auditors of the reliability and adequacy of the calculation of technical provisions
  • Perform quarterly Solvency II Technical Provision calculations using ready built Standard Formula model and submit the results and financials to PRA accordingly
  • Work on corporate planning responsibilities, assisting with the annual business planning process and performing various sensitivity, stress, and scenario testing to assess the feasibility of the business plan and its solvency positions in the future years
  • Prepare reports for the Board, indicating tasks undertaken by the actuarial function and their results and identifying any deficiencies and giving recommendations as to how such deficiencies should be remedied
  • Provide opinion on overall underwriting policy and reinsurance arrangements, and contribute to the implementation of the risk-management system, ORSA, and risk modelling underlying the calculation of the SCR and MCR
  • Present latest company information to the rating agency in order for them to assess the Company’s latest credit rating and its outlooks
  • Provide required information and reports as needed
  • Encourages the individuals within the team to be successful in the actuarial qualifications by providing various study support where necessary
  • Perform on other duties as needed


Requirements:

  • Qualified actuary
  • Highly numerate with excellent attention to detail
  • 8+ years experience in commercial insurance actuary. Personal lines pricing considered a plus
  • Prior experience with any programming language is preferred
  • Highly motivated and ability to work off your own initiative
  • Strong communication and interpersonal skills
  • Good Excel Skills and ability to set up basic business models
  • Able to manage own workload effectively to meet deadline
  • Flexibility to adapt to changing conditions and priorities
  • Experience in setting and embedding pricing controls and dealing with complex data and ambiguity
  • Quick learning and executing skills, ability to identify what is important, what could be wrong, and get solutions in place quickly
  • Good commercial sense, with a deep understanding of FCA/PRA pricing requirements

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