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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 performing internal model and technical provisions validation, writing risk reports and analysis (including the ORSA), providing review and challenge of first line processes (including through RCSAs), providing risk opinions on specific risk areas, as well as supporting the risk team with the delivery of the wider risk management framework.
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 Risk and Control Self-Assessments (RCSAs)
Performing 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 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)
Performing the validation of the technical provisions, including setting the annual scope, performing the testing and producing reports
Produce risk reporting and opinions, reviews of key risks and hot topics influencing Beazley’s risk profile, to support reporting to internal and external stakeholders
Maintain strong stakeholder relationships with members of the first line, to help support Beazley’s risk management framework
Facilitate the delivery of certain key submissions (e.g. Climate Biennial Exploratory Scenarios, Insurance Stress Tests)
Ensure close collaboration with other risk managers, supporting their workload as appropriate
Support with the continued development of the wider risk management framework
Requirements:
Experience of working as a risk actuary would be an advantage, but if lacking in risk experience, should have capital modelling experience (in-house or consulting) and be keen to transition into risk work
Experience in performing internal model and technical provisions validation would be an advantage for this position
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
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
Knowledge of Solvency II / Lloyd’s requirements, risk management and actuarial principles
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 Lloyd's / 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