Direct Motor Actuarial Manager

Job Description


Job Title - Direct Motor Actuarial Manager
Contract - Permanent
Salary - GBP70,000 - GBP75,000 (Dependant on Experience)
Location - London
Our client a major global insurance company are currently recruiting for a Direct Motor Actuarial Manager to join their well-established team based in London. You will lead an actuarial team (reserving and performance monitoring), managing insurance risk in respect of our client's Insurances Personal Lines business.
Key Accountabilities:
Provide technical expertise and use actuarial judgement to derive adequate level of technical reserves and assess the current year loss ratios for Personal Lines Direct Motor business. Under the direction of the Head of Personal Lines Actuarial and in consultation with the Underwriters and with support from the Transformation and Large Injury Manager, estimate current and future years loss ratio
Assess product profitability and the performance of Business Lines business. Support and challenge Underwriting, Distribution and Reinsurance decision-making and identify business opportunities. Develop tools to support business planning.
In conjunction with the relevant Finance Business Partner, support and challenge the strategy in respect of Personal Lines Motor business to add value and ensure decisions are soundly based
Ensure timeliness, accuracy and completeness of Personal Lines business MI provided via the Data Services and used for actuarial processes.
Support roll-out of value creation metrics across the business and ensure consistency of pricing, reserving, capital modelling and reinsurance processes.

Drive improvements in processes & methodologies in conjunction with the other Line of Business Manager and the Transformation and Large Injury Manager. Ensure processes are efficient and enhanced to meet business needs and exceed customers expectations. Improve methodologies on an on-going basis and share best practice amongst the wider actuarial community.

Support the embedding of the capital model by providing the atypical assumptions used in the underwriting risk assessment and manage the reserving risk calibration.

Develop the skills and competencies of the Team.

Maintain and develop relationship with Group Risk Management.

Adopt and implement the Companys audit methodologies and practices. To support the Head of Actuarial Team in respect of IFC, ensure that key controls mitigate risks identified, including fraud and financial mis-statement, and that documentation is kept up to date and complete for IFC purposes.

Support the solvency II reporting requirements in an efficient manner and the embedding of IFRS17.

Other Duties:

Monthly reporting of performance by product / scheme and drive to automate these reports. Documented dialog with SBUs, Underwriting, MI, Claims, Strategy and Business Planning teams.

Feedback from Exec members, FBPs and Business Lines business stakeholders

Stakeholder in the MI governance, KPI definition and MI procedures.

Feedback from Exec members, FBPs and Business Lines business stakeholders and the wider actuarial community.

Documented capital risk calibrations explaining the decisions made. Presentation of results to the relevant validation committees.

Feedback from regular survey results. Creation of improved methods to measure performance

Group Risk Management, Internal audit, External audit assessment and feedback.

Compliance with IFC requirements for design and operational effectiveness of key controls - as measured through the Control Self-Assessment process and periodic testing by Group Internal Audit.

If you have the relevant experience or know someone that does please contact us now on 0203 411 8430 or email me at

To view all Current Vacancies or for more information on our Refer a Friend scheme, contact one of our consultants or visit our website

Please Note: Due to the sheer volume of applications we receive, we will only contact successful applications. Therefore if you have not heard from us within 10 working days please deem your application as unsuccessful.


This job was posted by.

Derrick Smart

Tel: 0203 727 2315

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