Job Title:Assistant BIDAC Actuary
- Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct. Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
- Display business ethics that uphold the interests of all our customers.
- Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
- Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
- Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups
- Perform (as required) the quarterly Solvency II technical provisions valuations and relevant actuarial Pillar III submissions, adhering to the required standards and ensuring technical provisions deliverables are met
- Maintain evidence of valuation assumptions, perform the necessary reconciliation checks to provide assurance on the valuation outputs
- Support the HoAF and the Group Actuarial team in relation to BIDAC reserving.
- Perform pricing analysis to support business planning and underwriting opinions
- Provide actuarial performance monitoring reporting for BIDAC business (e.g. rate change and price adequacy metrics)
- Provide analysis for inclusion within the actuarial function report and report on technical provisions as required
- Contribute to reporting the results of actuarial analyses to the relevant stakeholders and committees
- Work with the BIDAC risk function to support the risk framework, by providing relevant actuarial analysis in respect of the business risks
- Ensure the necessary valuation data is accessible and appropriate, of sufficient quality, available when required and reconciled for the valuation processes
- Ensure the necessary documentation is maintained for reserving and technical provisions data, processes, methodologies, assumptions and validations and is reviewed at the required frequency, obtaining the appropriate sign-offs
- Identify opportunities and deliver improvements to processes and methodologies
- Build and maintain constructive working arrangements with those groups identified as being key to your role
- Operate as an effective team member by supporting colleagues and contributing in the delivery and achievement of overall team and business objectives
- Keep abreast of industry best practice, new initiatives, and changes in regulatory requirements
- Undertake applicable professional, technical and career development training (delivered internally and externally) to include attainment of associated qualifications where required.
- Assist in other projects undertaken by the broader actuarial team, as required
- Support the work of external actuaries as required
- University degree in Mathematics or related field
- Up to 2 years Actuarial experience
- Skills And Abilities
- General commercial and financial knowledge
- Experience with ResQ reserving software preferable
- Competent user of MS Excel; VBA, Access, SQL, SAS, WPS and R skills desirable
- Strong analytical skills with attention to detail; accurate and numerate
- Able to communicate effectively both verbally and in writing
- Team worker as well as able to work on own initiative
- Ability to manage time, work on a number of tasks in parallel, meet deadlines and prioritise
- Reserving experience; Lloyd’s market knowledge desirable
- Command of basic actuarial techniques
- Understanding of reinsurance
- Outcome focused, self-motivated, flexible and enthusiastic
- Professional approach to successfully interact with team members and stakeholders
- Independently minded
- Analytical
- Achievement and solution focused
- Information seeking
- Stakeholder focus
- Using initiative
- Having integrity
- Taking responsibility
- Being reliable
- Accuracy
- Attention to detail