Senior Actuarial Reserving Analyst

Location:
Gibraltar, Guernsey, Haywards Heath or Manchester
Salary:
up to £55,000 depending on experience
Department:
Finance
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We’re First Central Insurance & Technology Group (First Central for short), an innovative, market-leading insurance company. We protect the things customers love so they can get on with what matters to them in life. 

Data drives us. It fuels our outstanding distribution, finance, technology and legal services. Our underwriting skills are built on data expertise; it creates the insights we need to give the right cover to the right customers at the right price. But, it’s the people inside and outside our business that power us. They make us stand out, help us succeed. We’re ambitious. We’re growing. We’ve won awards.   

We’re ambitious. We’re growing. We put people first. Always. Come and join us!

Analytical with an aptitude for detail? Intuitive, dynamic and scalable model designer? These are just some of the skills you'll bring to our Finance team as a Senior Actuarial Reserving Analyst.

Working flexibly, you'll spend most of your time working from home, with a day a week in the office (so living close to Haywards Heath, West Sussex or Salford Quays, Manchester would be perfect).  But of course, it’s your choice - if you prefer to be in the office more - that's good with us too. 

We are also open to applicants who are commutable to our offices in Guernsey or Gibraltar.

Providing analysis and insight on claims reserves, you'll be the go to superhero for the Reserving Team giving recommendations for Best Estimate claims reserve. You'll also have responsibility for the ongoing development and enhancement of actuarial methods and diagnostic tools in the reserving analysis and monitoring of loss trends.

You’ll be the perfect person for us if: 

  • You hold a Degree in Actuarial Science, Mathematics, Statistics or related field

  • Reserving experience involving practical application of actuarial methods and statistical techniques are in your toolkit

  • Communicating complex matters is one of your strengths 

Job Responsibilities:

1. Quarterly reviews of reserves. Work covers:

  • Appropriate application of actuarial loss reserving techniques and expert judgement, producing an appropriate Best Estimate reserve figure;
  • Production of findings in a clear and logical manner, identifying areas of risk and opportunity;
  • Ongoing development and enhancement of actuarial methods and diagnostic tools applied in reserving analyses and monitoring of loss trends;
  • Co-ordinate with actuarial pricing teams and claims insight function to ensure a consistent best estimate view of ultimate reserves is used;
  • Maintenance and further development of detailed documentation of reserving assumptions and methodology including actuarial procedure documents;
  • To mentor and support other members of the Reserving Team;
  • Lead data validation tasks ensuring the data used within a reserving exercise is accurate, recommending and implementing process improvements where required;
  • Liaise with finance, claims management and business intelligence to ensure data accuracy;
  • Support with ad hoc requests from management, regulators and auditors as required, including liaising with external actuaries;
  • Support independent actuaries in the completion of their independent reserve reviews.

2. Monthly monitoring of claim performance:

  • Support the actuarial input into the monthly Skyfire Claims review meeting;
  • Monitor how claims experience is developing against expectation;
  • Investigate deviations to provide insight to the business;
  • As appropriate, support the Claims Insight area in providing recommendations on claims inflation

3. Involvement in Solvency II technical provision calculations and related regulatory returns, including:

  • Update and development of key reserving processes, model variables and assumptions used to input into Solvency II technical provisions;
  • Support in the development of the technical provision model;
  • Support in the calculation of the Events not in data (ENID) allowance;
  • Assist other business units regarding regulatory matters related to Solvency II technical provisions as required, including help with completing regulatory submissions;

4. Periodic analysis of reserve risk to quantify and communicate the range of uncertainty around the actuarial best estimate and support internal capital modelling, including:

  • Support in specifying and calibrating a set of statistical distributions used to model reserve risk;
  • Contribute to internal model validation by implementing improvements to address prior validation findings and assisting with validation queries.

General

  • Contribute to the growth of intellectual capital within the actuarial reserving department through attendance and participation in professional development initiatives and events as well as sharing of specialized expertise with other members of the team.
  • Demonstrate planning in execution of work, so that spreadsheets and models are intuitive, dynamic and scalable, with appropriate audit trails.

    Skills and Experience Specification:

    Essential:

    • Ideally a minimum of 2 years core reserving experience involving practical application of actuarial methods and statistical techniques used in reserving.
    • Bachelor’s degree in Actuarial Science, Mathematics, Statistics or related field.
    • Strong analytical skills with aptitude for detail and ability to apply advanced problem solving skills.
    • Good written and verbal communications skills.

    Desirable:

    • Proficiency and experience working with ResQ.
    • Previous experience working in Motor and Home insurance

    Want to know more? Sounds like you? Then click on Apply. 

    We’re officially a Great Place to Work® among Super Large UK companies and we’ve ranked an incredible 7th in the UK for Wellbeing.

    This is just the start.  Imagine where you could end up! The journey’s yours… 

    What can we do for you?

    People first. Always. We’re passionate about our colleagues and know the best people deserve an extraordinary working environment. We owe it to them so that’s what we offer. Our workplaces are energetic, inspirational, supportive. To get a taste of the advantages you’ll enjoy, take a look at all our perks in full here. 

    Intrigued? Our Talent team can tell you everything you need to know about what we want and what we’re offering, so feel free to get in touch.

    Apply for this job

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    86% of people would recommend a friend to work at First Central

    Based on 164 Glassdoor reviews (March 2022)

    Benefits

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    Simply Health Cash Plan

    Simply Health Cash plan. Reclaim the cost of your eye tests, dental appts, physiotherapy and more

    Flexible Bank Holidays

    Eight flexible bank holidays; you can choose which festivals you observe

    Volunteering

    We’re passionate about it. Everyone gets a paid day off annually to volunteer

    Electric Car Scheme

    Plug into our Electric Car Scheme for a deal with insurance, road tax and servicing

    Flexible Working

    We’re flexible; most roles let you mix office and home working. We work fluidly around core hours

    Your Time in Need

    Your Time in Need: five days’ leave so you can deal with life stuff. We’ll support you