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Target Openings
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What Is the Opportunity?
We a currently recruiting for a Senior Actuary to join our team based in London. This is an analytic leadership role that is responsible for the actuarial support for the Marine and Aviation business unit.
Travelers is home to a strong actuarial community covering pricing, portfolio management, capital modelling and research and development. Now is the best time to join us as we are creating new job opportunities for skilled Actuaries to contribute their voice to the development and future of our function.
As a Business Unit Actuary with us you will be responsible for case pricing, business planning, pricing models and portfolio management for the Marine and Aviation business unit.
You will be an experienced Actuary (preferably qualified) with strong experience in the London Market. You will use this experience to act as mentor to more junior members of the team; providing advice, direction and support for those undertaking professional qualifications.
Travelers Europe currently offers flexibility to employees who wish to work on a hybrid basis in accordance with our Hybrid Work Arrangements Policy. This entails full time employees working three days a week in the office and two days at home (or pro rata for part-time employees). This policy may be changed at the Company’s discretion.
This role is eligible for a new joiner bonus. If you are successfully referred by an employee at Travelers Europe, both you and the person who referred you could be eligible for a bonus.
What Will You Do?
Operational
Case pricing of individual large risks based on the insured’s own historical experience.
Business planning. Estimation of loss ratio for each class of business. Build profit and loss account and compare to required level of profitability. Propose and assess underwriting actions where projected profitability is not acceptable.
Pricing models. Take ownership of exposure-based pricing models. Be point of contact for underwriters to build their confidence in the models.
Portfolio management. Segment books of business to identify profitable versus unprofitable risks. Monitor rate and retention by segment to ensure underwriters are taking actions that will improve profitability of the book.
Use statistical software such as R and Python to manipulate and analyse claims data.
Work with underwriters and gain their confidence so that they act on actuarial insights.
Promote efficiencies in systems and processes, balancing additional effort against incremental lift gained from work.
Provide direction and review others’ analytical work.
Translate business requests into analytical solutions.
Provide support as necessary for initiatives within Europe or across the Enterprise within the scope of influence.
Strategy
Assess, prioritise, influence and communicate strategic initiative options to senior leaders.
Demonstrate effective execution and completion of assigned strategic initiatives and projects.
Regularly generate process improvements and explore opportunities for innovation.
Lead assigned unit strategic initiatives (narrow scope, limited and well defined) and cross-unit initiatives on a limited basis and is expected to participate in Europe or Enterprise initiatives on a limited basis.
Talent
Acquisition, retention, and development of talent for assigned unit.
Execute and communicate talent development processes, including performance and personal development goals.
Mentor less experienced talent within Europe or across the Enterprise.
Support various training and skill development initiatives across Segment, Europe and the Enterprise.
May provide support for recruiting efforts and candidate talent assessment efforts.
What Will Our Ideal Candidate Have?
University degree in STEM related field 2:1 or above.
Programming skills in R/Python or similar
Preferably qualified actuary
Strong understanding of insurance products and industry.
Experience in the London market.
Demonstrated ability in actuarial and quantitative analysis and statistical concepts.
Management experience (direct or indirect).
Excellent communication, collaboration and relationship-building skills.
Ability to present and translate complex information in relevant business terms.
What is a Must Have?
Bachelor’s Degree required.
Solid experience performing quantitative analysis required.
What Is in It for You?
Private Medical Insurance: On commencement of employment, you are eligible for single cover provided by Travelers, with the option to add cover for your dependents, at your expense through payroll deduction.
Retirement: Travelers will make a core contribution of a percentage of salary to your Pension Plan. Additionally, if you decide to contribute to the plan, you will receive an increased company contribution.
Holiday Entitlement: Start your career at Travelers with a minimum of 25 days holiday entitlement annually, plus the opportunity to purchase additional days to allow for up to a total of 35 holidays per year.
Wellness Programme: The Travelers wellness programme is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health programme provides access to free professional counseling services and other resources that support your daily life needs.
Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards programme that enables you to give back to the charity of your choice.
Employment Practices
Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.
If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.
Travelers reserves the right to fill this position at a level above or below the level included in this posting.
To learn more about our comprehensive benefit programs please visit
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