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Under the responsibility of the Head of Capital and Reserving, the candidate will assist in the development, maintenance, calibration and embedding of risk-adjusted financial models for the client and in providing a second line of defence on all P&C risk activities.
Support the team's population, construction, running and maintenance of the Internal Model. The principal tool used is ReMetrica.
Lead in the second line review of the P&C assumptions calibrations for insurance risk.
Support the independent review process to provide a second opinion on reserve recommendations of the actuarial teams within the business.
Support the Head of Capital & Reserving in preparation and presentation of results of both Capital and Reserving exercises to Group Risk Management, Capital Committee, and the insurance risk committees within P&C Operating Companies'
Support the development and maintenance of the Internal model to ensure compliance with the risk measurement requirements evolving within local regulatory rules. In particular participate and contribute to group working parties and develop appropriate model evolution plans for implementation.
Support the development and maintenance of any specialist tools or processes used within the second line reserving function to ensure fit for purpose and in line with best practice
2-3 years' experience in general insurance, with the majority of that in a reserving role
Competent in Resq and excel
Competent in a range of triangle based projection methods
Experience in at least one of the following classes of business - motor (personal/commercial); liability (EL, PL)
Typically part qualified actuary. Alternatively an actuarial/general insurance professional qualification or demonstrating equivalent insurance knowledge to fulfil key accountabilities for the role
1-3 years insurance risk experience
Relationship management skills - ability to manage key relationships and act independently
Excellent written and verbal communication skills - able to interact with Senior Managers
Substantial product and industry knowledge and understanding of regulatory framework