Senior Reserving Analyst

Job Type:

Permanent

Build a brilliant future with Hiscox
 

Senior Reserving Analyst - Part - Nearly Qual

London based with Hybrid working

Hiscox writes business globally, operating three Syndicates at Lloyd’s, a Bermudian reinsurance & ILS carrier and has rapidly expanding commercial and retail carriers in the UK, US, Europe and Asia. Group Actuarial is a centralised team responsible for all reserving and actuarial function activities across Hiscox’s seven legal entities and associated  underwriting business units.

Why work for us?

What makes Hiscox unique is that we are a large company with a small company feel. We have a track record of promoting actuaries around the business: not only in the traditional actuarial functions (reserving, pricing, capital and risk) but we have also had actuaries move into CFO roles, Divisional directors, underwriting insights, ILS valuations and in 2021 we had our first actuarially trained entity CEO. This role will provide the opportunity to develop deep analytical, communication and stakeholder management skills that will give you exposure to some of the most senior stakeholders across the business

The role

You will be working with a Reserving Actuary led team of four people focused on Syndicate Reporting. The Syndicate reporting team are pivotal to the collation and interpretation of reserving outcomes for the Hiscox Syndicates and the communication of analysis to senior stakeholders.

This team is responsible for collating the results of the Hiscox Syndicate’s from the quarterly reserving cycle in order to inform the reserving committee of business performance; satisfy regulatory and statutory requirements and calculate the Solvency II Technical Projections. The team work closely with Finance teams to support Lloyds reporting requirements.

The team also coordinate the Syndicate reporting of IFRS17 reserving outputs.

The role works closely with other  reserving actuaries responsible for the core reserving projections for the three syndicates. The reserving team work as business partners to the relevant business units with strong relationships and interactions with Finance, underwriting, claims, and pricing actuaries

As a senior analyst it is expected you will take responsibility for leading on individual deliverables. In addition you will be involved in other work across the year which for example may include working on the Actuarial Function Reports and Regulatory requests.

Principle Accountabilities

• Business partnering with key stakeholders across the business, particularly finance, providing insight and explanation of  the quarterly reserving results.
• Delivery of a quarterly review of Solvency II technical provisions.
• Working with Syndicate Finance to prepare and review reports for submission to Lloyd’s on a quarterly basis.
• Lead on ad hoc requests from management, regulators and auditors as required, including liaising with the external actuaries (e.g Auditors and/or SAO providers) and reporting on external reinsurance agreements to relevant third parties.
• Proactively contribute to the design and implementation of enhancements to existing processes and the creation of new processes to enable faster delivery of high quality outputs and to enable the reserving team to add insight to reported outputs and business decision making.

About you

• Technical experience – Strong technical experience of reserving across commercial and reinsurance lines of business. A genuine curiosity in the art of the possible and drive to continuously improve approaches
• Results driven - This role requires a highly results driven individual with energy and determination to succeed in a very fast paced environment.
• Communication - Confident communicator with an ability to communicate technical terms to a wide audience of stakeholders
• Resilience - You will need to be resilient in your approach with stakeholders and thrive in challenging situations that others would shy away from.
• Commercial mindset – The role holder will need to be able to translate the actuarial results into business implications and identify consequences of decisions. This role also requires awareness and knowledge of industry changes, legal updates and technical developments related to applicable areas of Hiscox.
• Problem solving – Very strong analytical ability combined with a pragmatic and logical approach to problem-solving.
• Relationship builder – this role requires the development of strong relationships with key stakeholders in the business; you need to be agile and flexible in your communication and able to build such relationships quickly and develop your profile in the business as a business partner. Experience of working closely with finance, underwriting, pricing or leadership teams will be advantageous

Qualifications & Experience

• Minimum 2:1 degree in related subject

• Part - Nearly qualified Actuary with the Institute and Faculty of Actuaries (or equivalent), within 12-18 months of qualification. Hiscox offer a competitive study support and reward package for Actuarial examinations.

• At least 3 years of non-life industry experience with a focus on reserving; with experience of the following areas beneficial:
• Solvency II technical provisions.
• Lloyd’s Reporting or involvement in work supporting Statement of Actuarial Opinion 
• IFRS17
• Intermediate to advanced  Excel, SQL , VBA capabilities; additional experience with Tyche, ResQ, Tableau, and/or similar applications is a plus.
• Demonstrable process improvement experience.

About Hiscox

As an international specialist insurer we are far removed from the world of mass market insurance products. Instead we are selective and focus on our key areas of expertise and strength - all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way of doing things.

We insure the unique and the interesting. And we search for the same when it comes to talented people. Hiscox is full of smart, reliable human beings that look out for customers and each other. We believe in doing the right thing, making good and rebuilding when things go wrong. Everyone is encouraged to think creatively, challenge the status quo and look for solutions.

Scratch beneath the surface and you will find a business that is solid, but slightly contrary. We like to do things differently and constantly seek to evolve. We might have been around for a long time (our roots go back to 1901), but we are young in many ways, ambitious and going places.

Some people might say insurance is dull, but life at Hiscox is anything but. If that sounds good to you, get in touch.

Diversity and Hybrid working

At Hiscox we care about our people. We hire the best people for the job and we’re committed to diversity and creating a truly inclusive culture, which we believe drives success.

We have also learned over the past few years that working life doesn’t always have to be in the office, and now it is safe to do so we have introduced hybrid working to encourage a healthy work life balance.

This hybrid working model is set by the team rather than the business to enable you to manage your own personal work-life balance. We see it as the best of both worlds; structure and sociability on one hand, and independence and flexibility on the other.

 
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