Reserving Technical Analyst

Sompo International; London; On-site; GBP 40,000 - 80,000

Job description

As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.

Job Description

Are you looking for your next opportunity?

Sompo has a unique opportunity for a Reserving Technical Analyst in our Reserving Technical Team.

We are seeking a highly motivated Reserving Technical Analyst to join the Reserving Technical team at Sompo International.

Under the supervision of the Reserving Technical Manager and working within the wider Reserving Function, you will help to lead the execution of the quarterly reserving process from end-to-end – applying robust controls to ensure high quality processes from the data input stage through to producing best practice reserve calculation outputs. Our reserving process is centered around a market-leading in-house bespoke reserving platform, the Sompo Reserve Platform (“SRP”), and ResQ reserving software. You will also support our regulatory compliance deliverables.

Furthermore, you will have an exciting opportunity to collaborate within the team and across departments to drive the continuing enhancement of our systems so that we continue to be at the forefront of market best practice, technology, and innovation.

Location: This position will be based out of our London office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.

What you’ll be doing:

1. Reserving Technical Function
   1. Contribute to enhancing the design, development, and maintenance of our in-house Sompo Reserving Platform reserving system, control network and tools.
   2. Collaborate with actuaries to maintain, enhance, and implement robust reserving methodologies.
   3. Own and develop the Sompo Reserving ResQ Project. This includes quarterly roll-forwards and checks, optimising segmentation, and hosting ResQ working party to drive continuous enhancements.
2. Quarterly Technical Reserving Process
   1. Work within the Reserving Technical team to manage, validate and compile the data sets used in the reserving process.
   2. Ensure that data and process queries and issues are duly recorded, effectively resolved, and clearly communicated, liaising with IT and other functions as needed.
   3. Work with the Reserving Function to refine reserving segmentations and update reserving parameters as required.
   4. Work with the Finance and Ceded Re Departments to execute and improve a robust process for incorporate manual data inputs into the reserving system.
   5. Run the central data reconciliation and quality control process for the SRP.
   6. Produce, improve, and reconcile a range of core and regulatory (including Solvency II) reports to support the reserving process, in SQL, Excel and PowerBI.
   7. Take ownership for the successful completion of all tasks assigned to you in the Quarterly Workflow. Effectively communicate progress, risks, and issues to the Reserving Technical Manager and key stakeholders.
   8. Independently lead responses to queries from stakeholders, internal and external auditors for your areas of responsibility and assist the Technical team more widely in this area.
3. Off Quarter Projects and Development
   1. Suggest and help to implement projects that continuously improve the overall effectiveness and quality of Sompo’s technical infrastructure as well as our day-to-day reserving methods and control processes. This may include use of AI and other leading-edge innovation.
   2. Develop relationships across the wider organization to address any difficulties with data inputs provided to Technical Reserving; and to ensure continuous improvements in stakeholder satisfaction with our outputs.

What you’ll bring:

1. Bachelor’s or Master’s degree in Actuarial Science, Computer Science, Mathematics, Statistics, or a related field.
2. Relevant experience in P&C insurance reserving, with a strong focus on data management and system development.
3. Strong programming skill in SQL. Experience, or an aptitude for learning, VBA, ResQ and PowerBI.
4. Be approachable to a range of stakeholders and flexible to work under time pressure to business needs, particularly around quarter end close deadlines.
5. Proven experience with ETL, data warehousing, version control, and wider data controls.
6. Excellent analytical and problem-solving skills, with the ability to interpret complex data sets and debug complex SQL stored procedures.
7. Highly organised with the ability to work autonomously, think critically and independently with a strong commitment to quality control.
8. Strong communication and interpersonal skills, with the ability to effectively communicate technical information to both technical and non-technical audiences.
9. Ability and willingness to learn new technologies, coding languages etc. as required by the evolution of the reserve platform.

Our Benefits

We continuously evaluate and update our benefit programs to ensure that our plans meet the needs of our employees and their dependents. Below are a few highlights of our inclusive benefit programs:

1. Expansive Health & Wellness Benefits
2. Generous Retirement & Savings Plans
3. Global Parental Leave & Adoption Assistance

In today’s world, what do we stand for?

We strive to create exceptional value for our clients and shareholders while maintaining Sompo as an attractive place to work. We foster an environment of ongoing, open dialogue between managers and their direct reports, and believe in an organizational environment where everyone belongs. We proudly are a multi-racial, multi-cultural, global enterprise. We reject all forms of racism, bigotry, prejudice and injustice and continue to invest in building out an inclusive and diverse work environment.

About Us

Expert Partners.
Clarity in complexity.
Unwavering commitment.

We’re Sompo, a global provider of property, casualty, and specialty insurance and reinsurance. Building on Sompo Holdings’ 130 years of innovation, we’re committed to applying all of our experience to simplify yours.

Our dedication to you shows up in the care we put in every detail, working to create a frictionless risk management journey for everyone we serve.

We lead with your priorities, meticulously crafting solutions, sharing insights, and understanding your needs.

Around the world, our 9,000+ employees use their expertise to learn, improve and find clear answers for your complex challenges.

Because when you choose Sompo, you choose the ease of expertise.

To learn more about visit our website at www.sompo-intl.com