Senior Reserving Actuary

At The Aventum Group, we're not one for following the usual rules. We work hard at being different and that very much extends to how we look after our people. Because for us, they're not just people. They're part of the family. A family that dreams big and always works together to make insurance better. For everyone.

We offer our employees a unique benefits package that includes personal training sessions, wellbeing provisions, and an additional day off for your birthday! We benefit from a learning culture and are keen to develop our employees to advance their careers at Aventum.

Rokstone is the Managing General Agent pillar of the Aventum group. We are one of the fastest growing global (re)insurance MGAs. Whether it's for our capacity providers, who want to know that their money is protected, or for our brokers, who want to know that they can easily place their risks, we understand the importance of always performing. It's why we deploy capacity quickly and efficiently across uncorrelated markets. It's why we provide rapid access to developed portfolios in niche markets. It's why we are highly diversified by both product line and distribution source.

Role Summary

You are joining a newly formed actuarial function. The team's immediate goal is to work with our CUOs and other key stakeholders to agree and deliver a reserving roadmap. This will involve business partnering with underwriting and claims to create an impactful, efficient and informative quarterly cycle of analysis that leaves our underwriters, management team and external stakeholders well informed of our forecast performance, next actions as a business and underlying uncertainties.

Role Accountabilities

1. Embed a reserving framework that supports underwriter and management strategy, enabling ownership of results and subsequent optimization of portfolio management.
2. Claims will be enabled to discuss aggregate quarterly claims experience relative to prior quarter performance assumptions and prior period trends.
3. Underwriting will be a valued contributor to the forecasting process and will be engaged in the estimation process such that they can present the final quarterly results to Rokstone management in tandem with actuarial and claims.
4. Results will be presented with impact, communicated effectively with strong visualization aids. This will be led by actuarial but with responsibility also sitting with claims and underwriting.
5. Actions will be agreed between quarters in a way that enables performance analysis to continue outside of the critical path for finalization of any one set of quarterly numbers.
6. Material assumptions will be clearly highlighted and discussed with stakeholders outside of actuarial who have relevant technical expertise. Our assumptions should be realistic, transparent and consider both historical experience and considered future permutations. Uncertainty will be communicated and a range of possible loss ratio outcomes will be highlighted.
7. Process automation will be a guiding principle of the reserving team as they aspire to reduce the time spent within the actual reserving process (receiving data to presenting final results) creating more time outside the critical path to investigate hot topics that can contribute to future quarter assumptions and overall business strategy.
8. In respect of reserving methods the team will aspire to evolve and enhance their assumptions over time with full engagement from the relevant business stakeholders.
9. In respect of data, actuarial will take responsibility for:
1. Checking the data provided for use relative to expectations and prior period positions.
2. Reporting data issues back to the relevant teams in the event that they are identified during the reserving process. Actuarial will communicate any issues effectively identifying cause and materiality and recommend solutions where possible, escalating appropriately based on materiality.
3. Explaining the actual experience seen relative to expectations with the support of claims and underwriting.
4. Actuarial will contribute to the operational design and implementation of a process that achieves:
1. Compiling and completion of data from multiple sources.
2. Conforming the data prior to delivery to actuarial.
3. Checking the data prepared for entry relative to PAS or warehouse.

Role Requirements

1. University degree in Mathematics or a related field.
2. Qualified actuary (FIA or equivalent).
3. Experience of working closely with claims and underwriting teams on reserving analysis and influencing subsequent commercial portfolio decisions and agreed next actions.

Skills and Abilities

We are here to support the Rokstone management and underwriting teams with technical expertise and simple but effective communication. We are here to be honest, pragmatic and commercial. We will challenge where opinions differ but also respect others views and communicate differences professionally, always communicating the uncertainty and limitations in our work.

Successful candidates must bring both experience and passion for both optimising process and market level analysis that can bring valuable insight to Rokstone's forecasting and strategy.

Management Duties

The successful candidate will have no immediate people management responsibilities but we anticipate they manage people once established in the role. There will be a transition towards managing the quarterly reserving process over a series of quarters in tandem with building out a suitable supporting team.

We are an equal opportunity employer, and we are proud to share that 93% of our employees say they can be themselves at work. We aim to hire our industry's finest people because the best people drive the best outcomes. And we forever challenge the status quo because we know there are always ways to improve things. Because together, we're limitless.

We value applicants from all backgrounds and foster a culture of inclusivity. We understand the need for flexibility, so work in a hybrid model. Please let us know if you require any reasonable adjustments during the recruitment process.

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