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About the Role
Sompo has a unique opportunity for an Actuary – UK Regulatory Reserving in our UK Actuarial Function. This role will support the Head of UK Regulatory Reserving across the Sompo UK business, contributing to the production, analysis, and communication of the SII Technical Provisions.
Responsibilities
- Support the Calculation, Validation and Communication of UK Solvency II Technical Provisions for UK Entities (EWIL, SIIE, AIUK and AMAL).
- Standard Formula and Cashflow Production.
- Internal Model Technical Provisions calculations.
- Appropriate Data Validations, Controls and Reconciliations.
- Monitoring and Back Testing of assumptions and methodologies over time.
- Assist in the production of Actuarial Function Reports and other regulatory reporting requirements relating to Technical Provisions.
- Produce Management Information, analysis, and commentary to support the understanding of reserving movements, emerging trends, and business performance.
- Support UK Actuarial Function Governance with regards to Quarterly GAAP Reserving, as part of the oversight and review of the central team analysis and outcomes.
- Contribute to process improvements initiatives, automation opportunities and enhancements of reserving and regulatory requirements.
- Support broader UK Actuarial Function initiatives, which could include input to Business Planning, Capital considerations, and contributions to the UK Risk Management Framework.
- Develop technical actuarial expertise and maintain awareness of relevant regulatory development and industry practice.
Requirements
- A newly or nearly qualified Actuary with strong actuarial and analytical background with good knowledge of General Insurance Reserving principles and Solvency II requirements.
- Strong analytical and problem-solving skills with experience of data analysis.
- Strong communication skills with the ability to explain technical concepts to a range of stakeholders.
- Ability to manage multiple deliverables at the same time whilst maintaining high-quality standards.
- Strong collaboration and teamwork and ability to work effectively across actuarial, finance and business teams.
- Experience of actuarial software, data tools, and reporting tools.
Skills
- Actuarial
- Analytical
- General Insurance Reserving principles
- Solvency II requirements
- Data analysis
- Communication
- Collaboration
- Teamwork
- Actuarial software
- Data tools
- Reporting tools
Location
- London Leadenhall St office
Work Type
- Onsite
Experience Level
- Newly or nearly qualified Actuary
Benefits
- Health & Wellness Benefits
- Retirement & Savings Plans
- Global Parental Leave & Adoption Assistance
- Employee Assistance Program
- Tuition Reimbursement & Professional Qualification benefits
About the Company
- At Sompo, our shared purpose is to create meaningful value for clients, communities, and each other. We strive to foster a workplace where everyone feels respected, included, and empowered to excel. As a global organization, we embrace diversity and champion equal opportunity. Guided by our core values—Accountability, Agility, Collaboration, Development, and Integrity—we build trust and support one another to achieve our goals worldwide.
Equal Opportunity
- Employment decisions are based on qualifications, merit, and organizational need, and we strive to ensure equitable access to opportunities so everyone can do their best work. If you need an accommodation for any part of the application process, please contact the recruiter in charge.