Aetna Actuary - Reserving (newly qualified), London - 50139BR in Farnborough, United States
Req ID: 50139BR
Actuary - Reserving
The Actuarial team s overall mission is twofold:
to design products that meet customer needs and develop pricing that produces returns to shareholders commensurate with the risks undertaken
to protect Aetna's financial integrity with sound reserving and risk management practices
Actuarial is responsible for anticipating and recognizing matters that materially affect financial integrity and making sound, unbiased reports on these issues.
This role will play a key role in the corporate actuarial function of Aetna International (AI), covering all regions outside the US. AI has ambitious expansion plans, with the acquisition last year of one major domestic South East Asian insurer and further plans in the pipeline. This role, repotting to the Chief Actuary and Head of Reserving, will play a key part in steering the sustainable growth of the business.
The roleholder will gain extensive exposure to senior executives in the business (General Managers and Finance Directors) and as such would be required to demonstrate a professional and flexible approach to work.
He/she will be expected to leverage strong technical and softer skills to provide business insights to management while ensuring efficient adherence to actuarial regulations. The key tasks include the following:
· Monthly reserving & insights
o Supporting the development of a centralised, automated monthly reserving process for all legal entities
o Running this process efficiently and accurately throughout the year to provide regional actuarial leads with suitable data
o Using this process to provide insights into the business to help steer regional business decisions
o Liaising with regional actuarial leads and finance directors to set monthly reserves and communicate results
· Actuarial Regulatory Control
o Calculating Solvency II technical provisions and reviewing SCR calculations according to applicable regulations
o Advising the business of ways to improve the capital position or calculation process
o Co-ordinating and reviewing actuarial function reports for International business (including Solvency II actuarial function reports, actuarial opinion for the Bermuda solvency regime, Singapore, UAE among others)
o Liaising with the Head of Risk Management to providing input into the risk management process (including risk identification, risk appetite etc)
· Supporting due diligence work on M&A projects
• A nearly qualified actuary to 4 years PQE
• Actuarial experience gained in private medical (domestic and/or international) is preferred but bright candidates from any actuarial background will also be considered.
• Professional approach and strong communication skills
· An understanding of non-life reserving and capital modelling methodologies (including experience or familiarity with Solvency II). Life, pensions and investment actuaries will be considered if they can demonstrate and aptitude and eagerness to learn these techniques.
· Strong communication and relationship building skills
· A professional approach
· Strong excel skills and data analysis experience essential (including MS Access and Visual Basic)
Product & Business Knowledge/Skills:-
• Maintain a commercial outlook as well as a technical curiosity to identify challenges or opportunities
• Apply analytical skills, research problems to generate a solution, present preliminary conclusions.
• Develop and maintain relationships with regional actuarial leads and finance directors to support an effective reserving and forecasting framework.
Verbal & Written Communication
• Communicate complex matters clearly and professionally to internal and external parties
• Create and maintain accurate documentation and help develop training materials for tools and processes.
• The role will be split between our Farnborough and London offices, with the allocation between the two open for discussion.
Job Function: Actuarial