This position is for a nontraditional actuarial role in a line of insurance business that sits at the intersection of insurance, banking and investments. The individual will be a contributor to a small team responsible for setting loss reserves on insurance exposures and performing valuation work for the Company’s difficult to value investment and derivative contracts. The individual will also perform regulatory and compliance tasks for actuarial and analytical reporting requirements in the Company’s various jurisdictions. The position involves frequent opportunities to work with other company functions, such as Risk Management, Surveillance, Accounting and Loss Mitigation. This role will require the ability to effectively communicate work processes and results to internal and external stakeholders as well as members of senior management.
Position Description
Loss Reserving Process:
Review, update, create and summarize internal and external loss models for the Company’s expected losses and recoveries
Prepare supporting material on reserves and loss experience, communicate results to senior management and company directors, assist Accounting with booking and documenting reserves and valuations
Valuation Processes
Assist with running the company’s mark to market model and process for difficult to value derivative contracts
Assist with the company’s investment valuation process
Regulatory and Compliance
Prepare regulatory documents including actuarial opinions (and supporting documents), Solvency II workpapers and statutory filings
Produce documentation for and respond to queries from regulators and auditors
Other Functions
Participate in the company’s Loss Mitigation process by performing analyses and providing support for negotiations
Produce underwriting analyses and profitability studies
Provide model review and analytical support to various company functions
Candidate Background
FCAS or near FCAS (or equivalent in other actuarial societies)
Experience working in an actuarial or analytical role at a (re)insurance company, consultancy or audit firm
Proficient in Microsoft Excel, particularly with creating and reviewing loss models
Ability to discuss and explain complex insurance and/or financial products to various audiences
Experience interacting and building solid networks within an organization
Proven ability to manage multiple workstreams and learn new topics independently
Basic knowledge of one or more programming languages as well as experience using financial software or tools (e.g., Bloomberg, Intex) a plus
Knowledge and acumen with securities markets, public and structured finance and/or credit a plus
Compensation
Annual base salary for the position is expected to be from $150,000 per year to $250,000 per year. The actual salary will depend on various factors, including but not limited to a candidate’s experience and credentials, salary expectations of applicable candidates, and other applicable market conditions. This position also provides applicable employee benefits, as well as eligibility for an annual discretionary bonus.
