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Maintain, update and run the technical provisions process, adhering to the required standards under different bases (Solvency UK, Solvency II, Bermuda Monetary Authority), for quarterly and annual reporting
Maintain, update and run the solvency profit model and balance sheet projection tools
Take ownership of year end reporting of solvency data to our regulators
Identify opportunities, enhance areas and deliver improvements in the technical provisions process and methodologies
Understand and effectively communicate the drivers of movements in technical provisions, including writing reports on a quarterly basis to explain movements to senior stakeholders and committees
Ensure the appropriate review of technical provisions and reporting requirements occurs prior to external submission
Contribute to the maintenance of documentation with the required frequency
Peer review colleagues' work to provide quality assurance
Support the work of external actuaries as required
Assist in other projects undertaken by the actuarial team e.g. M&A and business planning analyses
Build and maintain constructive working arrangements with those groups identified as being key to your role
Operate as an effective team member by supporting colleagues and contributing to the delivery and achievement of overall team and business objectives
Provide support and mentoring to the junior reporting actuaries on the team
Become a technical expert and trusted advisor for management on technical provisions and related matters
Keep abreast of industry best practice, new initiatives and changes in regulatory requirements
Undertake applicable professional, technical and career development training (delivered internally and externally)
Work with other reporting teams at Beazley to understand how different sets of accounts are prepared to ensure consistency
Requirements:
University degree in Mathematics or related field
Hold or are close to completing an Actuarial qualification
Strong background in operating large code bases including the ability to maintain and add to existing code. Knowledge of SAS and SQL is preferred.
Previous experience of writing, managing and maintaining code (such as SAS)
Good knowledge of technical provisions for Solvency UK, Solvency II and Bermuda Monetary Authority (BMA) preferred
however, we would welcome applications from individuals with other experience within the insurance sector (such as reserving, capital modelling, pricing)
Strong and competent user of MS Excel
General commercial and financial knowledge
Experience in analytics/ visualisation tools
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
Nice to have:
Previous reserving experience with Lloyd’s market knowledge
Knowledge of IFRS 17
Knowledge of actuarial valuation techniques, including those used within pricing and capital modelling
Understanding of reinsurance and its impact on reserving