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The role will support a range of risk management activities, with a particular focus on insurance and financial risk. This will involve supporting with internal model and technical provisions validation, contributing to risk reports and analysis (including the ORSA, RCSAs), as well as supporting the risk team with the delivery of the wider risk management framework.
Job Responsibility:
Support with the delivery of internal model validation as well as the production of validation reports for the Board, in collaboration with the first line teams and external independent validators
Support the risk managers in providing challenge of Beazley’s first line processes around insurance and financial risk, including reserving, pricing, capital modelling, business planning, underwriting, outwards reinsurance, exposure management and investments. This should include supporting with Risk and Control Self-Assessments (RCSAs)
Support the delivery of the Own Risk and Solvency Assessment (ORSA) for Beazley’s various entities, particularly those sections relating to insurance and financial risk (e.g. Capital and Stress and Scenario Testing)
Support with the delivery of technical provisions validation
Help prepare risk management reports for committees, and for internal and external presentations
Ensure close collaboration with other risk managers, supporting their workload as appropriate
Participate in project work as required
Support with the continued development of the wider risk management framework
Adopt the Beazley culture of professionalism, integrity, effectiveness and dynamic attitude that contributes to an internal environment of teamwork and promotes a positive brand image and experience to our external customers
Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct Rules. Undertake training on Beazley policies and procedures as delivered by your line manager, Culture and People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system
Display business ethics that uphold the interests of all our customers
Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs
Comply with any specific responsibilities necessary for your role as outlined by your line manager, Culture and People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management
Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups
Requirements:
Student actuary, who has demonstrated good progress through the exams
This role is most likely to suit a student actuary with around 2-4 years of experience
The candidate should either have experience in risk, or have capital modelling experience (in-house or consulting) and be keen to transition into risk work
Methodical approach to problem solving, with a high attention to detail
Ability to act pragmatically in the face of new challenges and exercise sound judgements based on overall business needs
Excellent interpersonal, communication skills, and ability to tailor communication to both technical and non-technical audiences
Ability to prepare comprehensive well written reports for internal and external stakeholders
Proven project management and organisational skills with track record of delivering projects to strict deadlines
Results oriented, with the energy and determination to succeed in a fast-paced environment
Advanced proficiency in using Microsoft Office
Experience in performing internal model and technical provisions validation would be an advantage for this position
Knowledge of Solvency II / Lloyd’s requirements, risk management and actuarial principles
Experience of providing challenge across any of the following areas would be an advantage: reserving, pricing, capital modelling, business planning, underwriting, outwards reinsurance, exposure management and investments
Experience in providing risk challenge to the first line and producing and presenting risk analysis to internal and external stakeholders
Interest in gaining a deeper understanding of insurance and financial risk management in the Lloyds’ / London Market
Outcome focussed, self-motivated, agile and flexible
Technically innovative, a problem solver and solution builder
Professional approach to interact successfully with colleagues
Able to work with multi-cultural and multi-location teams
Ability to work closely in a team environment and develop productive working relationships
Willingness to learn and achievement drive
Nice to have:
Experience in performing internal model and technical provisions validation would be an advantage for this position
Experience of working as a risk actuary would be an advantage
Experience of providing challenge across any of the following areas would be an advantage: reserving, pricing, capital modelling, business planning, underwriting, outwards reinsurance, exposure management and investments