Actuary - Head of Reserving, DUAL page is loaded Actuary - Head of Reserving, DUAL Apply locations London time type Full time posted on Posted 5 Days Ago job requisition id R
From day one, our mission has been to create an independent business with a unique culture - one that is controlled by the people who work for it. Finding the most talented and entrepreneurial people has always been key to our success.
People come to Howden for lots of different reasons, but they stay for the same one: our culture. That's what sets us apart, and why we nurture and retain the best talent in the market. Whatever your priorities - work/life balance, career progression, sustainability, volunteering - you'll find like-minded people driving change at Howden.
Role Definition
To support the Chief Actuary in providing in-house actuarial services, including but not limited to leading the quarterly reserve process, assessing profitability of business lines and projecting profit commission receipts. Supporting UK & European business areas.
Key Responsibilities / Accountabilities
- Ability to develop appropriate solutions to complex actuarial problems, within specific timeframes.
- Manage and develop successful relationships with senior members of the executive, underwriting, claims and finance functions.
- Support the streamlining, and expansion of scope of the quarterly process for assessing ULRs and modelling profit commissions that is suitable for all lines of business.
- Take a lead role in the quarterly reserving process - assessing profitability of business lines and projecting Profit Commission receipts.
- Support the team in the development of the Actuarial Data Warehouse as the main source of reserving data and as a potential repository for actuarial assumptions and results.
- Develop and implement efficient and effective controls to ensure data and models are accurate and fit for purpose.
- Communicate key results and uncertainties to stakeholders, sharing knowledge.
- Integrate technical pricing and rate monitoring into the reserving process.
- Carry out ad-hoc reviews of individual lines eg to identify corrective actions, potential growth areas or assess profitability of new products.
- Assist with Development of MI incorporating reserving, pricing and business analytics.
- Directly manage junior actuarial student(s) and support the student's professional development
Skills and abilities needed to perform role
- Highly Numerate.
- Carries out analyses in a thorough manner, within dedicated timeframes.
- Quick problem solver.
- Excellent software skills - Excel, VBA, SQL, SAS.
- Able to communicate technical &/or complex matters to non-technical audience.
- Able to work independently, meet deadlines and prioritise workloads.
Knowledge and Experience
- Good technical knowledge of the general insurance market, including London market experience.
- Detailed technical knowledge of reserving and related processes.
- Good knowledge of pricing techniques.
- Experience of developing and improving actuarial models including data specification and reconciliation, testing and documentation.
Compliance & Regulatory Responsibilities
- To remain compliant with FCA requirements at all times.
- To obtain appropriate approvals to ensure compliance with company policy, procedures and regulatory requirements/rules, with regards to data protection, money laundering etc.
- To share ideas, best practice and other information within the team.
- Ensure that own performance, HR and T&C records are up to date and meet the Company's requirements.
- Maintain accurate records and deal with correspondence appropriately.
Professional Qualifications
- First or 2.1 Degree in Mathematics or Science.
- Fellow of the Institute and Faculty of Actuaries or Equivalent
Our Culture: People First
We've travelled far since opening our first office in 1994. Back then we were local experts - based in London, with direct access to the world's biggest insurance market. We're still locals, and we still deliver the right advice and the right insurance to our clients. But now, we're local all over the world. With 15,000 global colleagues and a partner network spanning more than 100 territories, we are the largest independent insurance broker in the world. But our values haven't changed since day one, when we set out to create a company grounded in:
• An employee-ownership model
• Aligned external investors
• The trust and integrity born of friendship
• Expertise
• Independence
Our focus on being a people-first business has always been at the very heart of Howden. Our vision was to create an independent business with a unique culture; one that would survive and thrive as a business controlled by the people working for it. Our employee ownership model sets us apart in the market. It's created a culture of collaboration and innovation, where we're driven to think bigger and empowered to challenge convention.
Our flat structure and entrepreneurial spirit help us attract the best people and empower them to be the best version of themselves. And when we bring in and nurture great talent, more follows. That makes us better - and that's better for everyone.
Diversity & Inclusion
At Howden we consider our people our chief competitive advantage and as such we treat colleagues, candidates, clients, and business partners with equality, fairness and respect, regardless of their age, disability, race, religion or belief, gender, sexual orientation, marital status or family circumstances.
Our Story
In November 1994, David Howden founded a business that was literally the smallest insurance broker in the world. It had no clients and no track record. But it did have five things:
Equity ownership - the people doing the business, owned the business
A minority external investor with a long-term outlook
A product specialty
3 friends (and a dog)
A commitment to building a business with independence enshrined in its fabric
Today, the business has a global footprint of more than 14,500 employees in 50 countries spanning Europe, the Middle East and Africa, Asia Pacific and the Americas. For the FY22 our Group's organic growth was 19%, our revenue exceeds (USD) $2bn, and we handle $30bn in written premiums for clients.
Howden Group is an independent, global insurance group headquartered outside North America, comprising:
The largest independent, non-US international retail, specialty and reinsurance broker: Howden Broking ( and )
The largest international MGA: DUAL ( )
Want to see what kind of organisation Howden Group is? Click here to learn about what makes us who we are.