Actuarial Analyst

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Role Description/Purpose

The primary focus of the actuarial function is to contribute to the successful delivery of the business strategy by providing insightful actuarial analysis, whilst also fulfilling its regulatory responsibilities and ensuring policyholders interests are adequately

The Actuarial Analyst supports the broader actuarial function in the preparation of data as well as the building, running and documentation of actuarial This will include assisting with reserving and capital calculations for quarter-end and year-end reporting, helping implement regulatory changes (such as IFRS17) and continuous process

Key Responsibilities

Data

• Assist with developing, updating and maintaining actuarial data sources to ensure the data within remains appropriate, accurate and complete, including carrying out appropriate validation
• Identify opportunities and suggest improvements to make better use of data and produce more insightful actuarial

Reserving

• Support the quarterly and year-end calculation processes to produce:
  • best estimate valuations for insurance entities liabilities
  • Solvency II technical provisions including risk margins
  • UK GAAP accounting reserves
  • IFRS4/IFRS17 accounting reserves
• Build collaborative relationships with the underwriters and the finance team to ensure all relevant data and expert knowledge is considered as part of the calculation process
• Document the assumptions made over the processes and communicate the results to relevant stakeholders in the
• Further develop the in-house-built reserving models and implement other actuarial methods

Risk & Capital

• Support the quarterly and year-end solvency capital requirement calculation
• Assist with capital management and capital optimisation analysis, including recommendations relating to shareholder dividend pay-outs, reinsurance purchases, investment strategy,
• Contribute to solvency projection modelling, including forecasting technical provisions, balance sheets and solvency capital requirements as part of the Own Risk & Solvency Assessment (ORSA)
• Support with risk management activities, including designing, building and operating scenario modelling tools to assist with the
• Support the Economic Capital Model development and operations

Other

• Assist with regular performance monitoring of insurance schemes, including monthly loss ratio analysis, and risk earning
• Support with reinsurer requests for data and respond to queries
• Assist in producing documented outputs for sign-off by the Head of Actuarial / Actuarial Function Holder; Reserving Committee; Executive Committee and external

Knowledge and skills required

• 2 3 year experience in reserving or capital modelling, ideally with 3 exam passes
• An analytical mindset, commercial awareness and strong written and verbal communication

An ability to work proactively and autonomously to take ideas from proof of concept through to