Reserving Actuary

Birmingham, England, United Kingdom

1/8/2025

General

Job Description And Person Specification

Job Title: Reserving Actuary

Description: Actuarial reserving and forecasting for Beazley. Working within an established and experienced London Market reserving team setting provisions for our Lloyd’s, US and European entities, and engaging with a wide array of stakeholders.

Key Responsibilities

Technical

• Perform the quarterly reserving and trust fund valuations for long-tailed (Specialty Risks) classes of business. Undertake deep dive analysis on classes as required and maintain evidence of valuation assumptions.
• Perform the necessary reconciliation checks to provide assurance on the valuation outputs
• Contribute to the reporting of results of actuarial valuations and analyses to the relevant stakeholders and committees
• Work with the reserving actuaries, claims managers and underwriters on the calculation and communication of reserve uncertainty/ranges
• Work with the Finance, Data Management and Ceded Reinsurance teams to produce and reconcile the data for the valuation processes
• Contribute to the maintenance of reserving documentation with the required frequency, adhering to the review requirements and obtaining the appropriate sign-offs
• Assist in projects undertaken by the actuarial team e.g. M&A, business planning analyses and the delivery of group-wide strategic projects
• Support the work of external actuaries as required
• Build and maintain constructive working arrangements with those groups identified as being key to your role including Finance, Claims, Underwriting and Data Management.
• Operate as an effective team member by supporting colleagues and contributing in the delivery and achievement of overall team and business objectives
• Keep abreast of industry best practice, new initiatives and changes in regulatory requirements
• Contribute to improving the valuation processes and methodologies
• Undertake applicable professional, technical and career development training (delivered internally and externally) to include attainment of associated qualifications where required.
  
  

Personal Specification

Education And Qualifications

• University degree in Mathematics or related field
• Progressing towards an actuarial qualification
  
  

Skills And Abilities

• General commercial and financial knowledge
• Experience with ResQ reserving software preferable
• Competent user of MS Excel; VBA, SQL, Python, R or Power BI skills desirable
• Strong analytical skills with attention to detail; accurate and numerate
• Able to communicate effectively both verbally and in writing
• Team worker as well as able to work on own initiative
• Ability to manage time, work on a number of tasks in parallel, meet deadlines and prioritise
  
  

Knowledge and Experience

• Reserving experience; Lloyd’s market knowledge desirable
• Command of basic actuarial techniques
• Understanding of reinsurance
  
  

Aptitude and Disposition

• Outcome focused, self-motivated, flexible and enthusiastic
• Professional approach to successfully interact with team members and stakeholders
  
  

Competencies

• Achievement and solution focused
• Analytical
• Information seeking
• Stakeholder focus
• Using initiative
• Having integrity
• Taking responsibility
• Being reliable
• Attention to detail