Senior Actuarial Analyst

Collinson

Collinson is a global loyalty and benefits company.

We use our expertise and products to craft customer experiences which enable some of the world’s best known brands to acquire, engage and retain the most demanding and choice-rich customers. In particular, our unique expertise and insight into high earning, frequent travellers allows us to create products and solutions for our clients that inspire greater customer engagement to drive more profitable relationships, enrich their travel experiences, protect what matters and assist in in times of need.

While specialising in Financial Services, Travel and Retail, we also support clients in multiple sectors. We have worked with over 90 airlines, 20 hotel groups and more than 600 financial institutions and banks, with clients including Accor Hotels, Air France KLM, American Express, British Airways, Cathay Pacific, Diners Club, Mandarin Oriental, Mastercard, Radisson Hotel Group, Sephora, Visa and Vhi.

We take our 30 years’ experience working with these kinds of household names in over 170 countries, and help our clients to deliver the smarter experiences it takes to differentiate their propositions, and help them win deeper devotion with their customers.

Collinson is a privately-owned entrepreneurial business with 2,000 passionate people working in 20 locations worldwide. Our solutions include Priority Pass, the world’s best known airport experiences programme, while we are also the trusted partner behind many of the leading financial services, airline and hotel brand’s reward programmes and loyalty initiatives.

Collinson Insurance

We are a £250m+ GWP unit operating via two insurance companies in the UK and Malta.Our major product lines are Travel Insurance, Private Medical & Dental Insurance, and Miscellaneous Financial products including Gadget, Warranties, and Home and Motor ancillary products. In addition to a long standing, attractive roster of affinity clients which include Vhi in Ireland, Post Office, EasyJet and Saga in the UK, we operate a small direct to consumer brand, Columbus which operates in both the UK and Italy.

The Actuarial team operates across all entities, business models, and all client portfolios – and is responsible for Reserving & Capital Modelling.This role will sit on the Actuarial senior leadership team and relevant committee meetings as part of the insurance entities’ broader system of governance.

Purpose of the job

The primary focus of the actuarial function is to contribute to the successful delivery of the business strategy by providing insightful actuarial analysis, whilst also fulfilling its regulatory responsibilities and ensuring policyholders’ interests are adequately protected.

The Senior Actuarial Analyst supports management with delivering actuarial operations within the actuarial function. The main focus of the role is on producing calculations for quarter-end and year-end reporting and contributing to continuous process improvement. There is a need to transform the function to be more insight led through better use of technology, automation and more sophisticated analytical techniques.

Key Responsibilities

Data

• Support team members with developing, updating and maintaining actuarial data sources to ensure the data within remains appropriate, accurate and complete, including carrying out appropriate validation checks.
• Identify opportunities and suggest improvements to make better use of data and produce more insightful actuarial analysis.

Risk & Capital

• Contribute to the quarterly and year-end solvency capital requirement, risk margin and risk adjustment (CIEL only) calculations.
• Contribute to production of all required QRTs and outputs for financial reporting (eg SFCR, RSR, financial statements, etc).

Reserving

• Contribute to the quarterly and year-end reserving calculations and production of all required QRTs and outputs for financial reporting (eg SFCR, RSR, financial statements, etc).
• Contribute to regular performance monitoring of insurance schemes, including monthly loss ratio analysis.
• Contribute to the development and embedding of processes to ensure factor reserves and earning patterns are robust.

Other

• Contribute to the production of documented actuarial outputs for sign-off by the Chief Actuary, any relevant committees, and the external auditors (as required).
• Automate processes relating to data preparation and transformation, data visualisation, reporting, etc and generate concise summary dashboards to share with the business.
• Support with reinsurer requests for data and respond to queries promptly.
• Ensure professional qualifications and any CPD requirements are adequately maintained.

Knowledge, skills and experience required

• Studying towards Fellowship of the Institute of Actuaries (FIA) or equivalent actuarial exams.
• 2+ years non-life insurance modelling experience.
• An analytical mindset, commercial awareness and strong written and verbal communication skills.
• An ability to work proactively and autonomously to take ideas from proof of concept through to delivery.
• Able to deputise for their manager where required.