Lead the Reserving & Reporting team, advising on issues and making recommendations where appropriate. Embed Actuarial (Reserving) function at the core of sound decision making.
Key Tasks & Responsibilities:
• Lead the P&C Reserving & Reporting area, developing and delivering required business plans. Plan and manage team operations and resources in line with agreed performance targets, service standards, budgets and wider business and change objectives
• Ensure appropriate people strategy is in place across all locations; to develop the capability and expertise of the people in the team and foster a strong process and customer culture.
• Lead key elements of the regular review and analysis of non-life GAAP reserves and report the “Actuarial Central Estimate” to the Reserve Committee, advising on issues and making strategic recommendations where appropriate.
• Responsible for performing and/or reviewing the calculation of S2 technical provisions. Develop standardized approach and documentation to Technical Provisions. Ensure all technical guidance and best practices are adhered to in the calculation of Technical Provisions.
• Responsible for co-ordination of Actuarial QRT & NST regulatory reporting.
• Advise Executive and Board on the level of reserves to set by making clear booking recommendations to the Reserving Committee. Exceed all local Reserving requirements and Reserving Committee requests and work to ensure continued effective Governance of reserves.
• Provide business and market context to reserving team on the performance and reserve adequacy of the non-life reserves.
• Implement and develop/ improve sound processes and policies to support the delivery of work to the highest standard across the team. Develop and maintain standards for Reserving work and ensure that processes and methodologies comply with local professional standards.
• Lead strategic thought on existing and evolving Reserving & Reporting requirements, e.g. GAAP Reserving, Solvency II and IFRS 17, develop Reserving strategies in line with business targets and Risk Appetite.
• Regularly present to the Board Audit Committee and Board as required on matters relating to Reserving/ Solvency 2 TPs, flagging any issues related to Reserving/S2 TPs as required.
• Build key internal and external stakeholder relationships and manage the integration of the department with others so as to deliver a better service to the business
• Develop and lead key large-scale Actuarial projects including international group initiatives. Provide a senior escalation point for complex technical queries, ensuring effective and commercially sound resolution
• Lead reserving analysis of P&C operating performance as part of the Forecasting and Plan process. Co-ordinate the support other actuarial and financial management activities as required, including capital planning and broader operational support to Finance and Claims.
• Proactively research and evaluate the external market to identify risks and opportunities for the business, including appropriate tools and databases.
• Work with Chief Actuary and control functions to agree the optimal structure in which the Actuarial Function is framed, ensuring the objectiveness and independence are retained with respect to other key functions and operational areas.
• Provide thought leadership and support on-going development of tools, functionality and databases to support the Reserving, Planning/ Forecast and ORSA processes. Support the technical side of the ORSA process.
• Report KPI/ KRI trends/ anticipated developments in reserving results to the Executive Risk Committee to support ongoing decision-making.
• Assess and address data quality issues affecting the Actuarial team. Actively work to enhance data capabilities.
• Develop and maintain appropriate documentation of key controls for Reserving Risk Policy and establish a robust LAP/SOX control framework.
• Manage key internal and external stakeholder relationships and manage the integration of the department with others so as to deliver a better service to the business
• Use the objective setting and performance evaluation processes to ensure employees understand the expectations, receive regular feedback, and are appropriately developed and rewarded. Ensure adherence to policies, procedures and objectives. Deal decisively with performance and/or conduct issues
• Provide technical guidance on complex issues arising and as Subject Matter Expert input to evolving Reserving and Solvency II and regulatory reporting matters.
• Support other actuarial and financial management activities as required, including Capital, Reinsurance and broader operational support to Finance and Risk functions.
• Monitor developments in Actuarial Reserving matters and research the external market to identify risks and opportunities for the business.
For more information please contact Paul at 016099404 or firstname.lastname@example.org.
Acumen Resources specialises in the recruitment of the following professionals:
Chief Actuary | Head of Actuarial Function | Actuarial Director | Actuarial Function Holder | CRO | CFO | Actuarial Manager | Valuations Actuary | Product Development Actuary | Pricing & Reserving Actuary | Solvency II Actuary | Life Insurance Actuary | General Insurance Actuary | Non Life Actuary | Pensions Actuary | Investment Actuary | Capital Modelling Actuary | Capital Management Actuary | Risk Management Actuary | Enterprise Risk Management Actuary | Newly & Nearly Qualified Actuary| Part Qualified Actuary | Trainee Actuary| Actuarial Trainee | Student Actuary | Actuarial Graduate