Sompo
Senior Reserving Actuary - Economic and Statutory Reserving
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Sompo has a unique opportunity for a Senior Reserving Actuary in Economic and Statutory Reserving within our Actuarial Reserving team. The successful candidate will report to the Head of Economic and Statutory Reserving.
Our Actuarial Reserving team provides essential actuarial support to various stakeholders within the company. Specifically, the Economic and Statutory Reserving team plays a critical role in supporting Financial Reporting and Regulatory Compliance. We determine reserves under multiple frameworks, including economic reserving based on market conditions and statutory reserving based on regulatory requirements. Our team delivers accurate and timely reserve estimates for financial and regulatory reporting purposes, ensuring that the company's reserves align with regulatory standards. This includes adhering to guidelines set by relevant regulatory bodies.
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.
Our Business, Your Impact, Our Opportunity
What you’ll be doing:
- Support the valuation of technical provisions for group regulatory reporting requirements, including:
- IFRS17
- BMA Economic Balance Sheet Technical Provisions
- International Capital Standard calculations
- Support local actuaries in meeting local regulatory requirements by providing group guidance, relevant data, and input into assumption setting, where applicable.
- Assist in preparation of reports and analysis required to support actuarial opinions across various jurisdictions.
- Work closely with the Finance teams to manage, validate and compile data sets for the regulatory reporting process.
- Support special projects aimed at improving understanding of trends, emerging risks, and business performance.
- Develop strong working relationships within the Actuarial function and with other departments such as Risk, Claims, Finance, and Planning to enhance understanding of Sompo’s business and processes.
- Assist the wider reserving team with ad hoc projects, including group-wide analytical exercises and reserving deep-dive studies.
- Contribute to the ongoing review and enhancement of economic and statutory reserving methodologies, tools, and processes to support continuous improvement and ensuring alignment with best practices and latest regulatory standards.
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What You’ll Bring
- Progress toward actuarial qualification, or qualified/nearly qualified actuary, preferably with the Institute and Faculty of Actuaries or equivalent.
- 3–5 years of actuarial experience in general insurance, with exposure to reserving, valuation, or regulatory reporting.
- Working knowledge of one or more of the following: IFRS 17, ICS, Solvency II or other relevant regulatory and reporting frameworks.
- Strong analytical and problem-solving skills, with attention to detail and a commitment to high-quality deliverables.
- Good interpersonal, written, and verbal communication skills, with the ability to explain technical concepts clearly.
- Well-organised and able to manage multiple priorities in a fast-paced environment.
- Strong IT skills, including proficiency in MS Office products, particularly Excel, and experience with SQL and/or VBA.
- A proactive mindset, with a willingness to learn, take ownership, and contribute to team objectives.
At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.
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Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents.
Below is a summary of some of the benefits we offer, which may vary depending on the country:
- Health & Wellness Benefits
- Retirement & Savings Plans
- Global Parental Leave & Adoption Assistance
- Employee Assistance Program
- Tuition Reimbursement & Professional Qualification benefits
Who We Are And What We Stand For
At Sompo, our shared purpose is to create meaningful value for clients, communities, and each other. We strive to foster a workplace where everyone feels respected, included, and empowered to excel. As a global organization, we embrace diversity and champion equal opportunity. Guided by our core values—Accountability, Agility, Collaboration, Development, and Integrity—we build trust and support one another to achieve our goals worldwide.
Our values come to life in how we hire and grow talent. Employment decisions are based on qualifications, merit, and organizational need, and we strive to ensure equitable access to opportunities so everyone can do their best work. If you need an accommodation for any part of the application process, please contact the recruiter in charge.
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