Actuarial Assistant

Charles Taylor plc
London (Greater)
16 May 2018
18 May 2018
Contract Type
Full Time

Actuarial Assistant- London- Competitive Salary

Charles Taylor plc is a global leading provider of professional services to the insurance industry. The group manages mutual insurance companies, provides specialist loss adjusting services, has recently set up a Lloyd's Managing Agency and syndicate and is a provider of a diverse range of outsourced management and technical insurance services for the global market. Charles Taylor currently employs over 1900 staff working in over 71 offices in 28 countries worldwide. With approximately 1100 staff employed in the UK.

In April 2015 we launched Charles Taylor Managing Agency Ltd (CTMA), a Lloyd's managing agent that currently manages the Standard Syndicate 1884. The Syndicate underwrites marine and offshore energy business and has ambitious growth plans. Likewise, CTMA's strategy is to extend its syndicate management capability to further new Lloyd's start-ups. This will supplement the few managing agents that currently focus on turn-key management. This is an exciting new initiative for us and we have been running large recruitment campaigns to secure our new team in place.

The Role

CTMA are recruiting for an entry level Graduate/ Masters Graduate who can support the Actuarial team with tasks as necessitated by Solvency II compliance and the running of CTMA, whilst studying for their Actuarial exams.

Responsibilities include:

    Supporting the Chief Actuary (CA) and Internal Capital Model (ICM) manager in providing the Actuarial Function to the business

      Support and development of the quarterly reserving process, including technical provisions as required under Solvency II

        Supporting the ongoing development of the ICM under the day to day guidance of the ICM manager

        Key Responsibilities

          1. Reserving

            Operate the data extraction processes for premiums, claims and reinsurance information for use in reserve modelling Update the reserve models and reserve exhibits on a timely basis to help the management decide on reserve levelsAllocate reserves to Solvency II class, Situs Fund, sub-class as necessitated by reporting requirementsAssist in development actual vs expected reserve run-off analyses.Assist in computing reinsurance recovery reservesCalculate insurance cash-flowsUpdate Solvency II technical provisions models.Assist in liaising with third party stakeholders such as auditors, independent actuaries and Lloyd's actuarial department

              2. Internal model

                Assist the capital model manager in maintaining, parameterising, running and enhancing the ICMAnalyse historical syndicate and market data to develop model parameters and calibrate inputs to the ICMAssist the CA and ICM manager in supporting the ICM validation process.Use the model to assist with capital calculations, business planning and evaluating the costs / benefits of reinsurance.

                  3. Pricing

                    Dependant on the development of efficiencies in the Actuarial Function, there is the possibility that the successful candidate will be utilised to assist the Syndicate Pricing Actuary in supporting pricing model development and enhancement

                    Required skills

                      Graduate with a 2:1 degree with significant mathematical content, potentially with a masters in Actuarial Science Experience of working within a Lloyd's of London actuarial function would be useful (can be through an internship)Proficient in use of Excel and macrosOrganizedConfident in use of ITEducation or experience in actuarial or insurance matters, particularly Lloyd's of London, would be an advantage

                      Please note, Charles Taylor will sponsor successful candidates to complete their actuarial exams

                      Why Charles Taylor Managing Agency?

                      This is an exciting time to join Charles Taylor Managing Agency's actuarial function. Our new Chief Actuary has recently joined the business and this appointment will be one of the first in building a brand-new team. As the successful candidate you will support the Chief Actuary in defining the ICM and team processes.

                      If this is of interest, please apply using the link below.

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