Job Purpose:-
Assist the Actuarial Reserving & Pricing area in the application of actuarial judgement to calculate independent recommendations in terms of quantum of technical reserves to be held by the Company. Also to provide technical support as required to the rest of the Actuarial reserving team and to support the Actuarial pricing teams (in particular for product performance monitoring).
Key accountabilities:-
1. Support the calculation of prior years’ technical claims reserves. Using actuarial judgement calculate the projected prior years’ ultimate claims costs / reserves and make recommendations to the Actuarial Reserving Managers. Analyse / monitor claims trend information including large losses.
2. Support the calculation of current years’ technical claims reserves. Calculate the projected current year ultimate claims costs / reserves and make recommendations.
3. Providing programming and data extraction support as required.
4. Providing support to the Actuarial pricing teams, in particular for product performance monitoring.
5. Providing support to the reserving team as required in the delivery of reserving information to Finance.
Skills, knowledge and behaviour
Education:-
• Progress towards an Actuarial qualification, alternatively holding a relevant numerical degree.
Knowledge / Skills:-
• Knowledge and practical experience of applying Actuarial models for reserving.
• Basic knowledge of the UK General Insurance market
• Good communication and interpersonal skills
• Ability to work under pressure and to strict deadlines whilst maintaining reliability and accuracy
Experience
• Good knowledge of Excel, SAS, Visual Basic and other relevant actuarial reserving software
