Senior Reserving Actuary

Canopius•New York, NY

9h•$150,000 - $200,000•Hybrid

About The Position

This role involves carrying out the reserving process, ensuring the quality of data inputs, calculations, and outputs, while also highlighting associated limitations and uncertainties. The Senior Reserving Actuary will be responsible for the analysis of technical reserves on a quarterly basis for multiple lines of business using standard actuarial techniques. This includes performing analysis on large data sets, data reconciliation between various systems, and communicating results to both technical and non-technical audiences. The position also involves preparing supporting documents for governance structures, supporting the Finance department, and having a working knowledge of various reserving bases. The role requires implementing statistical analyses, assisting with process improvement, and fostering collaboration with other teams such as Claims, Underwriting, Risk, and Finance. Additionally, the Senior Reserving Actuary will mentor and train actuarial colleagues and the wider business.

Requirements

5-8+ years of actuarial experience in P&C insurance, with a strong focus on reserving
ACAS required, with FCAS preferred or near completion
Experience across commercial or specialty lines of business
Strong technical reserving capabilities, including application of multiple methodologies and informed judgment in selecting assumptions
Ability to communicate complex results and uncertainty clearly to non-actuarial stakeholders
Experience working with large datasets, with strong Excel and data modeling skills; proficiency in SQL, Python, or similar tools, with the ability to leverage modern analytical approaches to enhance insight and efficiency
Demonstrated ability to identify trends, evaluate underlying drivers, and challenge assumptions with a balanced and practical perspective
Strong collaboration and communication skills, with the ability to work effectively across actuarial, underwriting, claims, and finance

Responsibilities

Carries out the analysis of the technical reserves on a quarterly basis for multiple lines of business using standard actuarial techniques.
Performs analysis on large data sets using appropriate tools and techniques.
Performs data reconciliation between various systems and reports to ensure the reliability and completeness of the data used for reserving analysis and highlights data limitations for consideration within analysis and feeding back to operational teams for remediation.
Communicates results, movements and key uncertainties from reserving analysis to technical and non-technical audiences for quarterly and ad-hoc analyses.
Prepares supporting documents required through the quarterly and annual governance structure including divisional reserving meetings and input to the Reserving Forum.
Supports the Finance department with preparation of analysis and reporting on reserve related items.
Has a working knowledge of all reserving bases (Ultimate, GAAP, SII, IFRS, US Situs), including purpose and differences.
Implements statistical analyses and investigations as requested by actuarial management team.
Assists with implementing process improvement and development of effective tools for reserving analysis.
Encourages and develops feedback loops with other Actuarial sub-teams and other departments for inputs/outputs to the reserving processes.
Empowers partnerships with Claims, Underwriting, Risk, Finance, Management and Actuarial teams to understand the impact of initiatives and book of business changes and incorporates them into ongoing reserve analyses.
Takes responsibility for engaging other areas of the business with inputs and outputs from the reserving (ie feedback loops), for example underwriters, claims and finance and business planning teams.
Recognizes, implements and reviews process improvement and development of effective tools for reserving analysis.
Mentors and provide guidance and training to actuarial colleagues and the wider business.