General:

Job description and person specification 

Job Title: Lead Reporting Actuary 

Reports To: As per Beazley’s organisation chart 

Key Relationships: Senior management, Beazley actuaries, Finance, Data Management and Ceded Reinsurance teams, Claims managers, Underwriters and business managers, Lloyd’s, external actuaries/auditors. 

Job Summary: Actuarial SII technical provisioning for Beazley 

Key Responsibilities: 

Technical 

• Own and enhance areas of the Solvency II technical provisions process, for quarterly and annual reporting. 

• Understand and effectively communicate the drivers of movements in Solvency II technical provisions, including writing reports on a quarterly basis to explain movements to senior stakeholders 

• Perform (as required) the quarterly technical provisions valuations, validations, and reporting requirements, adhering to the required standards and ensuring technical provisions deliverables are met 

• Ensure the appropriate review of technical provisions and reporting requirements occurs prior to external submission and that submissions are made to high standard in a timely manner 

• Contribute to the maintenance of documentation with the required frequency, adhering to the review requirements and obtaining the appropriate sign-offs 

• Contribute to reporting the results of actuarial valuations and analyses to the relevant stakeholders and committees 

• Peer review colleagues' work to provide quality assurance 

• Support the work of external actuaries as required 

• Assist in other projects undertaken by the actuarial team e.g. M&A and business planning analyses 

• 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 to the delivery and achievement of overall team and business objectives 

• Provide support and mentoring to the assistant reporting actuaries 

• Become a technical expert and trusted advisor for management on Solvency II technical provisions and related matters 

• Keep abreast of industry best practice, new initiatives and changes in regulatory requirements 

• Identify opportunities and deliver improvements in the valuation processes and methodologies 

• Undertake applicable professional, technical and career development training (delivered internally and externally) 

• Work with other reporting teams at Beazley to understand how different sets of accounts are prepared to ensure consistency. 

 

General: 

It is important that within all your interactions both internally and externally you adhere Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. 

• Comply with Beazley procedures, policies and regulations including the code of 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. 

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Personal Specification: 

Essential Criteria

• University degree in Mathematics or related field 

• Hold or are close to completing an Actuarial qualification 
• Firm grasp of actuarial valuation techniques, including those used within pricing and capital modelling 
• Understanding of reinsurance and its impact on reserving   

 

Skills and Abilities 

• General commercial and financial knowledge 

• Competent user of MS Excel; VBA, Access, SQL, SAS and R skills desirable 

• Experience in analytics / visualisation tools 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 

  

Knowledge and Experience 

• Proven reserving experience; Lloyd’s market knowledge desirable 

• Good knowledge of technical provisions for Solvency UK, Solvency II and Bermuda Monetary Authority (BMA) preferred 

• Knowledge of IFRS 17 desirable 

Aptitude and Disposition 

• Outcome focused, self-motivated, flexible and enthusiastic 

• Professional approach to successfully interact with team members, internal and external stakeholders 

 

Competencies 

• Achievement and solution focused 

• Analytical 

• Information seeking 

• Stakeholder focus 

• Using initiative 

• Having integrity 

• Taking responsibility 

• Being reliable 

• Attention to detail