Actuarial Analyst

About the Job

Job Summary

The role is for an actuarial associate or associate with a focus on:
• Reserving and Regulatory reporting
• Rate Change reporting and analysis
• Business Planning
• Actuarial pricing of Individual Underwriting submissions and rating

The jobholder will also:
- Assist the Actuarial team in other aspects of their business. This will include various types of Actuarial analysis, reconciliation and ad-hoc requests.
- Be required to study for Actuarial professional exams and maintain a sufficient rate of success
The jobholder will report to the Actuarial Specialist (Reporting) within the actuarial team. The role is based in London.

Job Description

Key Responsibilities

• Reserving IGIs various lines of business

• • undertaking reviews for classes as a whole

  • discussion with respective underwriters and claims team.

  • presentation of findings to underwriters and management

  • written documentation to requisite (at least TAS) standards

• Review of facilities (binders) and/or other areas of focus

• Reporting: prepare returns to various:

• • regulators (SEC, BMA, UK PRA, Malta FSA, NAIC & Labuan)

  • rating agencies (S&P, A.M.Best and MARC)

• Rating Change and Rating Adequacy: Monitor and refine rating adequacy and rate change calculation.

• Analysis of anticipated profitability for Business Planning. This will both as-if analysis of each line (segmented into Small Risk, Large Risk, Modelled Cat and Non-Modelled Cat).

• Pricing: Assist Pricing actuaries in the Actuarial pricing of individual Underwriting Submissions and in analysis of rates.

The role will be expected to:

• Qualify as a Fellow of the actuarial professional within 6 years.

• Build an effective presence within IGI (beyond the of actuarial team).

• Assist in the personal and professional development of other actuarial team members.

Key Attributes & Professional Qualifications

Education & Experience

• First or II.1 Bachelor’s degree in Mathematics, Statistics, Actuarial Science, Risk Management, or highly numerate degree.

• Ideally completed actuarial based internship/s.

Skills

• High-level written and verbal communication skills in English

• Good working knowledge of statistical computer languages (including at least 3 of the following: SQL, Python, R, VBA, Power BI, R-shiny) to manipulate data and draw insights from large data sets.

• Knowledge of advanced statistical techniques and concepts (regression, properties of distributions, statistical tests and proper usage, etc.) and experience with applications

• Progression in actuarial exams is highly preferrable.

• Strong problem-solving skills with an emphasis on product development.

• Team player and adaptive to changes within the insurance industry.

• Detail-oriented, able to work well under deadlines and perform tasks with little supervision

• Strong analytical skills

Conduct Rules

SMCR was introduced by the Financial Conduct Authority (FCA), includes a set of Conduct Rules that apply to most employees in UK financial services firms. These rules aim to improve individual accountability and promote a healthy culture across the industry.

Individual Conduct Rules

These are the core five rules that apply to all employees

• Act with integrity

• Act with due skill, care and diligence

• Be open and cooperative with the FCA, PRA, and other regulators

• Pay due regard to the interests of customers and treat them fairly

• Observe proper standards of market conduct