Actuarial Director (0450)

PKF is the 12th largest accountancy brand and the 12th largest audit practice in the UK. We are also an active member of PKF Global, an international network of legally independent accounting firms that gives us an on the ground presence in 150 countries around the world with access to more than 20,000 people across 440 offices globally.

We provide a full range of audit, accountancy, tax and advisory services, and are experts at simplifying complexity. We are particularly well-known for working with complex clients with challenging issues in fast-moving and highly technical areas, such as the insurance industry, the global capital markets and the not for profit sector. Our aim is to understand people, the organisations they run, and what matters to them, so we can simplify complexity and help them achieve their ambitions.

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Financial Services 

Our leading financial services practice supports clients across the industry, including wealth and asset management, private equity, insurance, consumer credit and payment services. We have been a trusted adviser to the UK insurance industry for over 150 years and have one of the largest and most experienced teams of insurance experts within the accountancy profession. Established initially as a Lloyd’s practice, our clients now span the entire insurance market – from Lloyd’s syndicates and managing agents to insurance companies, brokers and MGAs.

We have one of the largest financial service audit teams outside of the Big 4 with over 100 audit partners and staff dedicated to supporting the sector. We offer relevant and practical advice to guide and enable our clients to maintain rigorous controls, manage risks and achieve business growth.

We act for many platform-based businesses, including wealth, funds and investment management companies. Our clients include listed businesses and those backed by private equity.

Aim of the Role

The actuarial team acts as technical experts to the Financial Services team and other PKF firms in our network. We are looking for a qualified actuary with strong communication and technical skills to support our significant business growth.

You will be expected to hold a Lloyd’s of London Practising Certificate and work closely with the audit team to support them with reserving reviews on a wide range of Property & Casualty classes of business. There will be opportunities to work on advisory assignments and in other actuarial areas of capital and pricing. You will be involved in a variety of client assignments and have the opportunity to work closely with other experts in the Internal Audit and Advisory Accounting teams. The actuarial team’s work includes external and internal audits, reserve reviews, Solvency II actuarial reporting, IFRS 17 assessments, capital calculations and merger and acquisition due diligence analysis. Our clients include London Market MGAs, Lloyd’s syndicates, P&I clubs, captive insurers and other insurance and reinsurance entities underwriting commercial and personal lines business mainly based in the UK and across Europe.

This role will offer the candidate the opportunity to support the division’s growth strategy in areas such as ESG and develop the team’s capabilities in climate risk modelling. This role will also provide the candidate the opportunity to a key part with supporting the Head of Actuarial with the development of the in-house team capabilities including being a coach/mentor to colleagues.

Job Duties and Responsibilities

• Managing multi-disciplinary client engagement teams to deliver high quality actuarial work as part of external audit assignments
• Ensure appropriate data, standard actuarial methods and assumptions used by analysts to independently project reserves in client assignments
• Lead the reserving for client engagements in the Lloyd’s / London Market on IFRS4/17 and Solvency II Technical Provisions
• Provide Lloyd’s Statements of Actuarial Opinion for syndicates
• Act as the Subject Matter Expert for reserving matters, providing advice and support to colleagues and clients
• Ensure SCRs calculated accurately using the Standard Formula approach to provide assurance on the technical accuracy of clients’ results
• Manage other work across reserving, capital modelling and pricing for including advisory, internal audits and due diligence
• Perform consulting reviews for team members to ensure actuarial work completed to a high standard and documented well to meet audit compliance standards
• Lead on the automation of regular reporting and building the infrastructure for data storage
• Responsible for ensuring the IT actuarial framework remains appropriate
• Responsible for ensuring the actuarial risk management framework operates as designed by performing annual sample quality checks
• Lead on data analytics work such as market benchmarks to support actuarial work, sharing knowledge on emerging risks and contributing to the development of the managers
• Ensure adherence by the team on actuarial procedures to support the actuarial work undertaken
• Building and maintaining strong relationships with both new and existing clients as well as within PKF network firms
• Supporting senior management efforts to cultivate and maintain target client relationships, including assisting with proposals and the development of sales materials as well as actuarial services
• Creation and contribution to high quality thought leadership through written publications, training events, client seminars and conferences

Qualifications

• Achieved a degree in an Actuarial, Mathematical or Statistical/Quantitative related degree
• Significant demonstrable post qualification as a Fellow of the Institute and Faculty of Actuaries (or equivalent)
• Holds a Lloyd’s of London Practise Certificate

Personal Attributes

• Strong analytical skills
• Critical thinker
• Ability to generate workable solutions to problems
• Takes responsibility
• Good attention to detail
• Completes work to a high standard of accuracy
• Completes tasks on time and within budget
• Manage portfolio of clients
• Uses initiative
• Able to cope with the pressure of high and varying workloads
• Willing to take and ask for advice
• Flexible in approach to work
• Good written skills to produce quality documentation
• Able to communicate effectively and keep others informed
• Strong coaching skills to develop the capabilities of managers
• Strong project and people management skills, and an ability to structure task allocations around critical goals
  
  

Skills and Experience

• Significant demonstrable post qualification in the UK with strong knowledge of Lloyd’s Valuation of Liabilities requirements and can provide Statements of Actuarial Opinions
• Experience in capital modelling and/or pricing would also be beneficial
• Experience with using reserving and/or capital modelling software tools
• Proficient in using Microsoft Office applications such as Excel, Word and PowerPoint
• Proficient in coding languages such as VBA, SQL, R and Python would be beneficial
• Previous consulting or audit experience is helpful
• Have good track record of successfully managing deliverables
• Have experience of managing a team

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