Reserving and Reinsurance Manager
To play a leading role within the Actuarial team taking ownership of the reserving function, internal and external Insurer reporting and ongoing management of the business reinsurance programme and annual placement. The Reserving and Reinsurance Manager will consider consumers in all aspects of all activities undertaken to ensure that they are treated fairly, and that products and services offered are appropriate for their needs and offer value for money.
Main activities and tasks
- Manage quarterly reserving process, production of internal and insurer reserving packs and communication of results to the business.
- Develop and maintain an in-depth knowledge of reserving techniques appropriate for the UK General business lines, introducing new methods and modernising existing process and procedures where appropriate.
- Manage and develop a reserving analyst and assist in development and training of the wider actuarial team.
- Develop and maintain relationships with key internal and external stakeholders
- Maintain an in-depth knowledge and understanding of the UK General products and systems.
- Work with Pricing, Underwriting, Products and Claims teams to investigate root causes of observed reserving trends, proposing corrective actions where appropriate.
- Working closely with other key business functions including Finance to ensure that all areas become aware of developments with reserving/pricing and can incorporate any findings in a timely fashion.
- Work with IT professionals in the ongoing development of MI reporting systems.
- Manage the ongoing Company Reinsurance Programme and annual placement, including:
- Maintaining in-depth knowledge of existing treaties and facultative arrangements
- Co-ordinating the collation and checking of supporting data across Finance, Underwriting and Broker contacts
- Liaising with Reinsurance brokers and Senior management to ensure prospective information is accurate and representative
- Reviewing alternate quotes and terms, providing feedback and recommendations to management on optimal structures
- Develop tracking to monitor actual exposure vs declaration and identify potential recoveries
- Consider the potential customer outcomes.
- Identify and highlight any risks and issues impacting the business or its customers.
Required skills and experience
- Financial/General Insurance environment experience essential with knowledge of personal lines products.
- Detailed knowledge of MI software or systems e.g. R, MS Excel and VBA, Access and SQL.
- Demonstrable commercial awareness.
- Innovative approach to work, ability to apply knowledge, judgement and experience to forecast new lines and product variants.
- Excellent communication skills with the ability to communicate complex matters both verbally and through written reports.
- Ability to handle multiple projects, working effectively both within a team and independently and as part of cross departmental project teams.
- Ability to work with enthusiasm and flexibility.
- Ability to work under pressure, meet deadlines and prioritise workloads.
- Analytical ability to break down complex problems with excellent problem-solving skills.
Required education and qualifications
- Actuary qualifications to at least CT Level.
- Significant experience in similar role.
- Fully qualified Actuary.