Reserving and Capital Actuary Remote
Job description
Remote work available
As a Reserving and Capital Actuary within the Insurance Analytics team, I take ownership for regular processes which typically require the use of specialist actuarial software packages. I am responsible for leading the valuation of insurance liabilities on IFRS and SII bases. I effectively manage the workload of analysts within the team and their development.
My immediate priorities include developing commerciality within the reserving process, building an end-to-end reserving process on the home product, ensuring compliance with the new IFRS17 accounting standard and supporting the development and tracking of machine learning use cases and insight transformation.
My role requires #Curiosity to investigate and solve some of the organisation’s toughest problems and deliver tangible business value through analysing and managing claims trends, accurate liability valuation, capital efficiency and reinsurance evaluation.
My role requires actuarial skills and an ability to understand business process to make quality judgements and set methodologies and assumptions used in reserving and capital modelling processes. I am required to analyse large datasets and present the results to senior management; I contribute to defining and monitoring machine learning use cases across the business and satisfying regulatory requirements on Solvency II and IFRS reporting bases. #Collaboration is key as I link with different teams internally, external auditors and consultants. I am interested in building and developing process and am passionate about understanding and communicating what the outputs are to derive maximum value for the business. I am proactive in driving continuous improvement in all that I do and confident enough to challenge the status quo to get the best solution.
My skills are both technical and non-technical and I have a desire to understand actuarial disciplines such as claims reserving, capital modelling and reinsurance evaluation. I excel at investigating trends and communicating technical output clearly and confidently to stakeholders of all levels. And all this at #PrecisionPace.
I deliver business value as well as ensuring everything we develop is done in a safe, transparent, well documented, and compliant way.
Main Responsibilities- Maintain and understand financial claims data pipelines critical for actuarial process.
- Manage the monthly reserving process for the Home or Motor product to value the claims reserves and report on results to the business.
- Contribute to all 3 pillars of Solvency II requirements (quarterly and annual quantitative reporting templates, ORSA, SFCR, RSR, Actuarial Function Report (AFR))
- Contribute to the yearly external audit process and independent actuarial reserve review.
- Contribute to the yearly reinsurance program renewal process – including managing the production of supporting information.
- Contribute to continuous improvement and embed commerciality within actuarial processes.
- Identify emerging trends, through partnering with stakeholders, understanding business problems, and making strategic recommendations at #PrecisionPace
- Be an advocate for the Insurance Analytics team across the wider business, working collaboratively to demonstrate how analytical techniques can deliver enhanced business outcomes improvement process, #Curiosity.
- #Collaboration across the Saga business where required, contributing actuarial expertise and knowledge to bespoke projects
- Contribute to the insight’s consolidation and transformation project in conjunction with the Head of Claims Analytics and wider team
- Working with ClaimsOps and Claims Analytics to develop machine learning use cases and track the benefits.
- In a clear and concise manner communicate the outputs to non-technical claims teams #Empathy towards their business problem.
Governance
- Adhere to Technical and Actuarial practice standards (TAS and APS)
- Adhere to governance processes for financial reporting purposes.
- Maintain and develop transparency and documentation around actuarial team process to minimise key person dependencies.
- Performance of regular reconciliations to validate accuracy of data and reporting.
- Compliance with group legal and DPO best practice to ensure processing and transfer to and from third parties is compliant with governance processes, GDPR and DPA, and follow ICO best practice.
- Qualified Actuary (FIA/FFA) or qualified by experience (6+ years)
- Bachelor/Master’s in actuarial science, mathematics, statistics, or related discipline
- Ideally UK personal lines insurance experience
- Strong numerical and statistical capabilities.
- Excellent verbal and written communication skills, comfortable communicating with stakeholders of all levels to C-suite.
- Comfortable working with large amounts of data.
- Proactive, with a strong desire to learn.
- Demonstrates enthusiasm and self-motivation.
- Strong organisational skills
- Successfully contributes to a fun, fast-paced, “fail fast”/agile environment. #Collaboration
- Managing teams through change and transformation
When you join Saga you will see that we are committed to treating all employees fairly and to offering equal opportunities in all aspects of employment and advancement.
We value diversity not just because it is the right thing to do, but because diverse teams perform better. Creating a culture in which everyone feels welcome and offering equal opportunities in all aspects of employment and advancement is incredibly important to us. Fair consideration is given to applications from all applicants, including those with disabilities.
We are an official Disability Confident employer and ensure that our recruitment process is inclusive and accessible and we will make reasonable adjustments as required.
We are a member of the 30% Club and partner with Moving Ahead which offers us a fantastic opportunity to take part in a leading, global, cross-company, leadership mentoring scheme to champion female talent.
We are a signatory of the Armed Services Covenant and have received a Silver Award from the Employer Recognition Scheme.
Learn more about the Saga business by watching our Saga plc 2019 AGM film below:
To all recruitment agencies: Saga does not accept agency CVs unless specifically engaged on the role by the HR Recruitment Team. Please do not forward CVs to our recruiters, employees or any other company location. Saga is not responsible for any fees related to unsolicited CVs.
#L1-Remote
Package DescriptionThe standard benefits when you join Saga include:
Remote working available where possible
The choice to buy a further 5 days annual leave per year
Free private medical insurance after 1 years' service
Workplace Pension
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