Howden is a collective – a group of talented and passionate people all around the world. Together, we have pushed the boundaries of insurance. We are united by a shared passion and no-limits mindset, and our strength lies in our ability to collaborate as a powerful international team comprised of 18,000 employees spanning over 100 countries.
People join Howden for many different reasons, but they stay for the same one: our culture. It’s what sets us apart, and the reason our employees have been turning down headhunters for years. Whatever your priorities – work / life balance, career progression, sustainability, volunteering – you’ll find like-minded people driving change at Howden.
The role
To Support the Actuarial Team in providing in-house actuarial services, including involvement in:
- Quarterly “reserve” process – assessing profitability of business lines and projecting Profit Commission receipts.
- Quarterly Underwriting Profitability Review process which reviews areas of underwriting concern and the effectiveness of corrective actions.
- Review of individual lines and investigation of pricing strategies.
- Development of MI and rate monitoring.
- Discussions with carriers - reviewing past experience, current products and future opportunities.
- Involvement in business planning, providing independent scrutiny and challenge.
Key responsibilities
- Prepare data for actuarial analyses; ensuring data is consistent, reconciled and checked for reasonableness.
- Update quarterly actuarial projection models.
- Assist in the selection of appropriate ultimate claims.
- Assist in the calculation of the Profit Commission figures.
- Maintain documentation of actuarial processes.
- Deal with data queries from carriers’ actuaries.
- Attend internal and external actuarial meetings.
- Accuracy of work – analyses to be updated accurately and reconciled, and documented such that another actuary could follow work and assumptions.
- Reliability – assigned tasks to be completed efficiently, within agreed time scales.
- Development of actuarial and insurance knowledge – increased technical skills and business knowledge will be evidenced by understanding and applying appropriate actuarial methodologies based on characteristics of different insurance products and markets. Attendance at LMSG/SIAS events and a good exam pass rate is expected.
Professional qualifications
- First or 2.1 Degree in Mathematics or Science
- A level Maths at grade A
- Institute and Faculty of Actuaries – enthusiasm and commitment to take and pass the IFoA exams, participation in student events eg SIAS lectures to gain wider understanding of actuarial methods and business awareness.
