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Risk Actuary
Reporting to the Director of Risk & Governance, the Risk Actuary provides independent actuarial insight across underwriting, reserving, capital and reinsurance risk. You will help ensure that material insurance, market, reserving and capital risks are appropriately quantified, monitored and challenged within a Lloyd’s environment.
This role suits someone who is technically strong, commercially minded and confident engaging with senior stakeholders — someone who can translate complex actuarial outputs into clear, decision-ready insights.
Key Responsibilities
Risk Quantification & Modelling
- Provide a second-line view on actuarial models used to assess underwriting, reserve and reinsurance risk.
- Deliver independent analysis of exposure accumulations, volatility drivers and diversification benefits.
- Support stress and scenario testing, including Lloyd’s and Board-driven scenarios.
Capital & Solvency
- Support assessment of capital adequacy under internal frameworks, Lloyd’s requirements and Solvency II / Solvency UK regimes.
- Provide actuarial input into capital model assumptions, parameter validation and model change governance.
- Articulate how underwriting strategy and reinsurance structures influence capital efficiency.
Risk Appetite & Governance
- Translate the Agency’s risk appetite into measurable actuarial metrics and tolerances.
- Monitor and report on utilisation, breaches, trends and emerging risks.
- Contribute to risk policies, limits frameworks and delegated authority oversight.
Underwriting & Portfolio Oversight
- Partner with Underwriting to challenge pricing adequacy, margin sustainability and strategic changes.
- Independently review business plans, including loss ratio forecasts, growth assumptions and downside risk.
- Provide clear actuarial opinions to Risk Committees and the Board.
Reinsurance & Credit Risk Support
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- Support the design and evaluation of reinsurance programmes, focusing on volatility reduction, tail protection and capital relief.
- Contribute to assessment of reinsurance counterparty risk.
Regulatory & Lloyd’s Interaction
- Support actuarial components of Lloyd’s returns, reviews and thematic exercises.
- Provide technical input to regulatory submissions and supervisory engagement.
- Ensure actuarial risk practices align with evolving Lloyd’s expectations.
Reporting & Communication
- Produce high-quality actuarial risk reporting for Committees, Board and Executive management.
- Translate complex modelling outputs into clear, actionable insights.
- Promote strong risk culture through education, challenge and collaboration.
Skills, Knowledge and Expertise
Technical Skills
- Strong grounding in general insurance actuarial methods, specialty lines and long-/short-tail dynamics.
- Experience with actuarial and risk modelling tools (Excel, R, Python, capital models, exposure systems).
- Deep understanding of the Lloyd’s market and Managing Agency governance.
Experience
- Several years’ actuarial experience within a Lloyd’s managing agent, specialty insurer or London Market consultancy.
- Experience working in or closely with a second-line risk or assurance function.
- Demonstrated ability to influence underwriting or strategic decisions through actuarial insight.
Professional Qualifications
- Qualified or near-qualified actuary (IFoA or equivalent).
- Commitment to ongoing professional development.
Benefits
As well as a competitive salary, discretionary annual bonus, and a minimum 27 days of annual leave (with the option to buy more), you will also get an excellent benefits package, including flexible, hybrid working, private health insurance, life assurance, income protection, enhanced pension contributions, and occupational maternity and paternity pay.
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You will also have access to company volunteering days, an Electric Vehicle (EV) leasing scheme, an employee assistance programme with retail discounts and savings, a generous employee referral scheme and regular sports and social events.
About PoloWorks
PoloWorks is the leading provider of UK-based support services to the insurance market. We have built a strong reputation as dedicated and dependable experts in our field. We pride ourselves on our ability to be flexible, responsive, and knowledgeable.
As a leading service support company and turnkey managing agency, our clients choose us because our staff not only have the expertise but also a profound affinity with their business challenges. Our mission is to support, inspire, and develop the insurers of today and tomorrow.
Our clients, whether digital start-ups or well-established organisations, rely on the PoloWorks team to develop and strengthen their businesses. Our clients' goals are our goals. As such we design and deliver bespoke solutions to their specific business challenges.
Recognised as a Great Place to Work certified company and listed among the Best Workplaces in Financial Services & Insurance, PoloWorks is proud of its positive culture and commitment to its people. With offices in London and Cheltenham, PoloWorks has ambitious growth plans, offering exciting opportunities for anyone joining us on the next phase of our journey.
It's our mission to unleash the potential in every team, and we know that teams perform best when they are diverse and every team member feels that they belong. It is the unique contributions of all PoloWorks colleagues that drive our success, and we are committed to building an inclusive culture where everyone is empowered to do meaningful work and are recognised for their efforts. To that end, we are committed to providing an environment free of discrimination for everyone.
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