Job Description
Fidelis is a global (re)insurance company, with operations in Bermuda, Ireland and the United Kingdom. It was formed in Bermuda in 2014 by Richard Brindle, under the principles of focused, process-driven and disciplined underwriting and risk selection, strong client and broker relationships and nimble capital deployment. Since then, Fidelis has assembled a diversified global book of (re)insurance business and achieved scale as a specialty (re)insurer with GPW of $3.0 billion, total revenues of $1.5 billion and net income of $62.3 million for the year ended December 31, 2022.
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On January 3, 2023, Separation Transactions were completed and two distinct holding companies and businesses were created: FIHL and MGU HoldCo. FIHL is the parent holding company, referred to here as the Fidelis Insurance Group (IG), or “the Group”.
ROLE DESCRIPTION
This role will join a growing team reporting to Reserving Manager in the Fidelis IG Actuarial team. The analysis will provide exposure to a broad range of lines including innovative products, and work closely with underwriters, pricing actuaries and CAT modellers, across the UK, Irish and Bermuda offices. The wider actuarial team works closely together providing opportunities to develop skills across functions.
Assist in all aspects of the reserving function:
- Quarterly tasks such as setting assumptions, calculating reserves and associated reporting
- Annual work such as reserve parameterisation
Support project work such as:
- The continuing development of data processes and structures
- Developing analytics dashboards and reporting for monitoring within the reserving team and communication to the wider business.
Working across all three of our business pillars: Bespoke, Reinsurance and Specialty.
MAIN RESPONSIBILITIES
- Support the Group Chief Actuary and Reserving Managers with quarterly reserving
- Contribute to the calculation of quarterly reserves set
- Contribute to natural catastrophe loss process
- Setting of reserve variability parameters
- Improve the reserving process for efficiency and enhanced reporting
- Drafting reports and packs
- Developing an understanding of lines of business through interaction with underwriters, claims and pricing actuaries
SKILLS, QUALIFICATIONS AND EXPERIENCE
- Part qualified with IFOA or equivalent
- Bachelor’s degree, preferably in Mathematics, Science, Economics or other numerical degree
- Strong intellectual and mathematical acumen, demonstrated by excellent academic results
- Experience in reserving in the London or Bermudan markets e.g. (Setting IELR and development pattern assumptions, Setting of Large / Natural Catastrophe estimates, Method selection, AvE Analysis, Justifying and documenting movements)
- Experience in drafting reports on reserving topics e.g. reserve committee, board papers and actuarial function reports
- Strong Excel skills
- High attention to detail with the ability to multi-task and prioritize own work against needs of business
- Strong critical thinking, ability to interrogate data successfully and provide challenge when required
- Ability to work effectively both independently and within a team
- Ability to deliver high quality work within tight deadlines
- Flexibility to work extended hours during busy periods
- Added benefit but not essential: Experience in VBA, SQL, Analytics software such as Power BI, Spotfire, Tableau