Reserving Actuary
il y a 3 semaines
ABOUT THE JOB
- Job purpose
- The Actuary will be part of the MS Amlin Europe 1st line actuarial team. The team provides reserving and capital analysis to the MS MS Amlin Insurance SE (MS AISE) board and the management of the P&C strategic business unit (SBU).
- The P&C SBU of MS AISE has a total gross reserve of more than 725m euro, and a gross premium of more than 350m per year.
- Key Result Areas
- The jobholder will be involved in the following areas of work facing the team, under the direction and prioritisation of the Lead Actuary and/or the Chief Financial Officer:
- Reserving
- Carry out the quarterly process of reserving for MS AISE covering business written within the P&C SBU. The function is charged with determining actuarial best estimates for claims provisions in line with actuarial standards and Group and statutory requirements. The jobholder is expected to pro-actively identify and execute actuarial analyses to determine best estimate reserves and get more insight in the development of the portfolio. This applies to the claim and the premium projection. The actuarial reserving process not only forms the basis of MS Amlin’s booked reserves (and hence underpins its financial reporting), but is also fundamental in measuring the underwriting performance of the business.
- A main part of the responsibilities is the explanation of the results of the actuarial projection to the various stakeholders. This includes the CFO and the Management Board in general, the underwriters and claims handlers of the P&C SBU, and the Financial functions who will process the results further. Reports on the results, the underlying assumptions and potential different views have to be prepared and will be discussed in the reserving meetings. The jobholder is expected to be able to express his/her view clearly and convincingly.
- In the near future the reserving process will have several important changes, like the implementation of the new IFRS17 regulation and a switch of the projection base from accident year to underwriting year. The jobholder is expected to implement this and help to explain it to the stakeholders.
- Data quality and tooling
- The jobholder will be required to assist in projects within the team for improvements in the IT infrastructure, data quality and tooling. This may include writing specifications, testing of the implementation, and maintenance of internally developed tooling.
- Capital assessment
- In conjunction with the MS Amlin Actuarial capital modelling team (based in London), input has to be provided for the capital assessment process for MS AISE. This includes providing input for the underwriting risk of the Standard Formula SCR, and ensuring that the parameterisation of the Internal Model is appropriate and that the model accurately reflects the risk profile of the business. Help might be provided for scenario analysis to understand the impact of potential developments and choices on the SCR.
- The Operating Environment and Context of the Job
- The role reports through to the Chief Financial Officer and the designated actuarial team leader. Policies are set up by the group-wide MS Amlin Actuarial function, headed by the MS Amlin Chief Actuary, and so the jobholder will be required to interface with actuarial colleagues elsewhere within the MS Amlin group.
- Job specific competencies- Actuarial qualification or good progress made towards an actuarial qualification, or a similar strong mathematical base_- Knowledge of standard reserving techniques_- Use of analytical software desirable (e.g. SAS and SQL), the ability to program (Visual Basic for Excel) and knowledge of databases_- Numerate and analytical mind-set, good problem solver_- Communicative, self-motivated and pro-active_- Being able to organize and plan your work_- A working knowledge of English, verbally and written. Fluency in Dutch is a benefit._- Willingness to travel occasionally to Amstelveen_
- ABOUT MS AMLIN
- MS Amlin is part of a global top-10 insurance group MS&AD, with three main legal entities operating in the Lloyd’s, UK, Continental European and Bermudian markets. We have an enviable reputation for our customer knowledge, claims service and the specialist insurance and reinsurance expertise we apply. We provide the type of security leading organisations need to break new ground, innovate and offer life-changing services and amenities to some of the world’s most challenging regions. Our record extends back over 300 years and today we have more than 1800 people in more than 20 locations worldwide.
- We are experts in underwriting, with both technical capability and deep knowledge of the areas we insure. Our claims service aims for equality, with efficient, fair and timely claims management.
- We’re going through an exciting period of modernisation and transformation for which we need entrepreneurial thinkers to help execute our strategic vision for growth. We’re on a dynamic path and we need you to help s
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