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The role will support a range of risk management activities, with a particular focus on the North American1 platform's insurance and financial risks. This will involve writing risk reports and analysis (including the US Own Risk and Solvency Assessment - ORSA), underwriting and statutory business planning, product development, providing review and challenge of first line processes (including through risk and control self-assessments - RCSAs), risk appetite, providing risk opinions on specific risk areas, supporting with technical provisions validation, as well as supporting the risk team with the delivery of the wider risk management framework. This role is most likely to suit a nearly/newly qualified actuary, although we will consider applicants who don't quite fit this description. The candidate should have experience in risk.
Job Responsibility
Provide 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 RCSAs
Support the delivery of the US ORSA, particularly those sections relating to insurance and financial risks
Performing the validation of the technical provisions, including setting the annual scope, performing the testing and producing reports
Produce risk reporting to Committees, Boards, stakeholders and regulators
Participate in risk management training for key stakeholders
Deliver risk opinions, reviews of key risks and hot topics influencing Beazley North America platform's risk profile, to support reporting to internal and external stakeholders
Support the annual review of Beazley's risk appetite levels
Participate in governance over North American entity reserves and capital
Maintain strong stakeholder relationships with members of the first line, to help support Beazley's risk management framework
Investigate insurance and financial risk related risk incidents
Ensure close collaboration with the Global risk team's insurance and financial risk managers, supporting their workload as appropriate
Support with the continued development of the wider risk management framework.
Requirements
Experience in insurance / financial risk management or working as a risk actuary would be an advantage for this position
Knowledge of US statutory accounting principles, National Association of Insurance Commissioners (NAIC), Connecticut Insurance Department and Bermuda Monetary Authority regulatory requirements related to certain insurance and financial risks, 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
Nearly/newly qualified actuary, although we will consider applicants who don't quite fit this description.