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    Actuarial Analyst - London, United Kingdom - Liberty Specialty Markets

    Liberty Specialty Markets
    Liberty Specialty Markets London, United Kingdom

    1 week ago

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    Description
    Job Title: Actuarial Function Team Member at Liberty Specialty Markets


    • Employment Type: Permanent, Full time

    Location: Hybrid Working Model with Office in London


    About the Company:

    Liberty Specialty Markets is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer.

    Offering a vibrant and inclusive environment and committing to their career development.
    Promoting diversity, equity and inclusion (DEI). OurInclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.

    Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.

    A supportive culture, which includes promoting a healthy work-life balance and working flexibly.


    The Actuarial Function evaluates business performance and provides Liberty Speciality Markets' management with a clear, risk-based view for making decisions on business strategy and risk mitigation.

    The department covers all aspects of actuarial work including pricing, reserving, business planning, and capital, and supporting exposure management and reinsurance purchasing.

    The Actuarial Function currently comprises the following core teams:


    • Pillar Teams: business partners to Underwriting and aligned business functions, responsible for class-level pricing, business planning and capital premium risk parameterization.

    Multi-functional teams and roles managing, strongly supported with a core centralized data, analytics, modeling, reporting and risk governance infrastructure provided by the other Actuarial teams outlined below.


    • Pricing and Analytics Team: a broad and varied remit supporting delivery on key strategic priorities, including delivering new pricing models on leading-edge platforms as part of the wider underwriting transformation.

    Developing new predictive models and delivering consistent and scalable Actuarial pricing and portfolio analytics MI (Management Information) and standards across LSM, working closely with Pillar Actuaries and Underwriting.


    • Reserving Team: coordinates the reserving process and regulatory reporting requirements related to GAAP and SII Technical Provisions.

    Supporting across all LSM Underwriting Pillars and Legal Entities, the team own and ensure the timely production of core reserving data, software, reporting infrastructure and peer review supporting bi-annual reserve reviews and quarterly reserve roll-forwards.


    • Actuarial Modelling Team: Maintains and develops the Internal Model for capital assessment and solvency reporting requirements of LSM's regulated Legal Entities.

    Working closely with the Actuarial teams above and other LSM Enterprise Risk Management and Finance business functions in parameterization, validation and modeling infrastructure; supporting risk and return on equity-based decision making across the business.


    Supporting Actuarial's position in a new operating model as a 'supply function' within Liberty Mutual Global Risk Solutions (GRS).

    Continuing our implementation of a best-in-class pricing platform for our insurance lines across our global portfolio and delivering analytics that drive enhanced underwriting risk and strategic portfolio management.

    Further building on our strong partnerships with Underwriting and aligned business units, being exceptional trusted advisors in our consistent use and communication of data and analytics capability across our business
    This role sits within the Pillar team aligning to the Commercial Casualty and Property, Specialty Energy and Construction. These lines account for over $550m of GWP in 2023 across LSM's London Market, Continental Europe and MENA operations.
    Large Commercial Property and Real Estate
    Onshore and Offshore Energy First Party
    CAR, EAR and Civils Construction business

    This role is primarily focused on the Specialty Energy and Construction classes however there is scope to be involved in projects spanning other classes within the team.

    The role reports to the Senior Actuary, supporting these lines of business.
    The role is expected to involve day-to-day supervision, mentoring and delegation to an Actuarial Analyst(s).
    Directly supporting and influencing Senior Underwriting management, and collaborative working with Portfolio Management, Finance, Claims and Enterprise Risk Management functions.
    Individual account pricing, new business due diligence and performance monitoring.
    Compliance and reporting against internal and Regulatory Best Practice pricing and underwriting risk management standards.

    Strategic portfolio profitability analysis 'deep dives' to prospectively inform changing mix of business impact in Business Planning, renewal book remediation and new business growth strategies.

    Business Planning and Capital Management loss ratio parameterization processes.

    Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviors as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to our Liberty Values, placing customers at the center of our business and behaving with integrity.

    LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviors at all times.

    These requirements include the Senior Managers and Certification Regime Conduct Rules, Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest and Whistleblowing.
    Relevant experience from consulting, commercial or personal lines also welcome.
    1 or better in a numerate/scientific degree and an A / A* in A-Level Maths or equivalent.
    Strong IT skills – advanced knowledge of MS Excel and the standard MS Office suite is essential.

    Other experience of working with other big data manipulation and visualization software such as SQL and Power BI or similar would also be an advantage (although not a starting prerequisite) for the role, as would analytics coding experience in packages such as R, Python or similar.

    Analytical problem solver with outstanding verbal and written skills, communicating with a range of internal and external clients of varying experience, expertise and appreciation of actuarial techniques.

    Commercially minded, with gravitas to influence and negotiate on well-considered risk-based decision making.
    Ability to work both independently or as part of a wider project team.
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