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Risk Actuary

United Kingdom, London Employment contract · Job Posted June 09, 2026
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Job Description

Reporting to the Director of Risk & Governance, the Risk Actuary provides independent actuarial insight across underwriting, reserving, capital and reinsurance risk. You will help ensure that material insurance, market, reserving and capital risks are appropriately quantified, monitored and challenged within a Lloyd's environment. This role suits someone who is technically strong, commercially minded and confident engaging with senior stakeholders — someone who can translate complex actuarial outputs into clear, decision‑ready insights.

Job Responsibility

  • Provide a second-line view on actuarial models used to assess underwriting, reserve and reinsurance risk
  • Deliver independent analysis of exposure accumulations, volatility drivers and diversification benefits
  • Support stress and scenario testing, including Lloyd's and Board-driven scenarios
  • Support assessment of capital adequacy under internal frameworks, Lloyd's requirements and Solvency II / Solvency UK regimes
  • Provide actuarial input into capital model assumptions, parameter validation and model change governance
  • Articulate how underwriting strategy and reinsurance structures influence capital efficiency
  • Translate the Agency's risk appetite into measurable actuarial metrics and tolerances
  • Monitor and report on utilisation, breaches, trends and emerging risks
  • Contribute to risk policies, limits frameworks and delegated authority oversight
  • Partner with Underwriting to challenge pricing adequacy, margin sustainability and strategic changes
  • Independently review business plans, including loss ratio forecasts, growth assumptions and downside risk
  • Provide clear actuarial opinions to Risk Committees and the Board
  • Support the design and evaluation of reinsurance programmes, focusing on volatility reduction, tail protection and capital relief
  • Contribute to assessment of reinsurance counterparty risk
  • Support actuarial components of Lloyd's returns, reviews and thematic exercises
  • Provide technical input to regulatory submissions and supervisory engagement
  • Ensure actuarial risk practices align with evolving Lloyd's expectations
  • Produce high-quality actuarial risk reporting for Committees, Board and Executive management
  • Translate complex modelling outputs into clear, actionable insights
  • Promote strong risk culture through education, challenge and collaboration

Requirements

  • Strong grounding in general insurance actuarial methods, specialty lines and long-/short-tail dynamics
  • Experience with actuarial and risk modelling tools (Excel, R, Python, capital models, exposure systems)
  • Deep understanding of the Lloyd's market and Managing Agency governance
  • Several years' actuarial experience within a Lloyd's managing agent, specialty insurer or London Market consultancy
  • Experience working in or closely with a second-line risk or assurance function
  • Demonstrated ability to influence underwriting or strategic decisions through actuarial insight
  • Qualified or near-qualified actuary (IFoA or equivalent)
  • Commitment to ongoing professional development

What we offer

  • Discretionary annual bonus
  • Minimum 27 days of annual leave (with the option to buy more)
  • Flexible, hybrid working
  • Private health insurance
  • Life assurance
  • Income protection
  • Enhanced pension contributions
  • Occupational maternity and paternity pay
  • Company volunteering days
  • Electric Vehicle (EV) leasing scheme
  • Employee assistance programme with retail discounts and savings
  • Generous employee referral scheme
  • Regular sports and social events
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