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AIG
,
London, Greater London
UK Chief Actuary
Overview
Job Description
Functional Area: AC - Actuarial Estimated Travel Percentage (%): Up to 25% Relocation Provided: No AIG Europe S.A. (U.K. Service Branch) & American International Group UK Ltd As an actuary at AIG, you will be challenged and encouraged to reach your greatest potential. Every day will bring new opportunities to stretch your analytical and problem-solving skills as you improve how we predict and mitigate risk. Our Financial Actuaries are on the frontlines, quantifying risk, pricing insurance and reserving losses for AIG's major regulated and rated insurance operating companies globally. Portfolio Analytics and Pricing Actuaries support AIG's businesses and are responsible for technical pricing, product development analytics and performance measurement. They collaborate with Marketing, Operations and Financial Management. This role is responsible for leading the Pricing and Reserving for AIG UK . R esponsibilities: * Provide oversight for Pricing, Planning and Results Monitoring of the UK book of business working closely with the UK CEO, Group Executive Leadership, UK Underwriting Heads, regional Chief Actuaries and group functions as appropriate * Accountability for building a first class actuarial team to deliver the ongoing objectives of AIG UK * Responsible for all of the statutory reserving and US GAAP reporting for AIG UK, and taking the lead at the AIG UK Reserves Committee * Ensuring that appropriate actuarial techniques are employed across the AIG UK business and in line with Global Policies * Managing the regulatory relationship with the PRA, internal and external audit * Introduce business focused changes or improvements that promote profitability and growth, and take an active role in their implementation and monitoring as part of playing a key role in the creation of annual plans. * Responsible for the determination of Solvency II technical provisions for AIG UK using appropriate actuarial techniques and in line with Solvency II requirements; * Ensuring compliance with Solvency II regulations, including areas within the Actuarial Function, e.g. Underwriting and Reinsurance Opinions & Pillar 3 actuarial inputs * Responsible for the parameterization of insurance risk (underwriting and reserving) for the internal capital model and involvement in the internal model validation process * Production of Management Information around profitability as required by the wider business * Complying with key regulatory and risk management procedures * Providing thought leadership in response to an evolving market, regulatory and corporate backdrop * Supporting the risk function with data and quantitative support that is actuarial in nature and risks identified in the UK risk register as being owned by the Chief Actuary * Oversight of the UK Technical Pricing function to enhance pricing and modelling capabilities Knowledge and Experience * FIA accredited Category 1 member with strong actuarial commercial lines background required; 15+ years P&C experience in Pricing and Reserving * Proven proficiency in actuarial concepts/methodologies and ability to educate non-technical managers on technical areas that enhance their decision-making ability * Proven leadership, influencing and negotiation skills in a highly matrixed environment; able to resolve differences while maintaining positive working relationships * Strong people management and leadership capabilities; * Significant experience interacting with senior executives * Senior level experience in actuarial, underwriting and financial analysis highly desired * Proactive individual, who challenges existing processes, can influence others and drive a process to a conclusion while meeting critical deadlines * Comfortable in working across teams and driving forward initiatives through developing personal networks and powerful and influential communication. * Excellent written and verbal communication skills * Exceptional analytical and critical thinking skills, with thorough attention to detail * Strong project management skills and drive-for-results mentality, with the ability to multi-task and make decisions in a business context It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories. At AIG, we believe that diversity and inclusion are critical to our future and our mission - creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.