Hedge Fund Actuary recruitment

The client is seeking actuaries with pricing experience of European non-Cat business such as Motor Liability, General Liability, Employers’ Liability, Professional Liability (e.g. Solicitors, medical malpractice, EO). Our client is interested in pricing actuaries from a variety of markets, but are especially keen on candidates currently working in UK, France, Germany, Spain, Italy or Ireland.

Responsibilities:

• Providing actuarial support on individual transactions.  This includes determining information required to perform analysis based on deal structure, assessing quality of data provided by client, determining expected loss costs and other parameters used in the pricing modelling, discussing data issues and results of actuarial analysis with lead underwriter, clients and brokers.  Data provided by clients is often limited so you will need to supplement your analysis with industry data, personal work experience and other sources of public information/research. Assist lead underwriter in structuring individual transactions

• Peer reviewing other team members’ actuarial work.  This includes reviewing data and assumptions used for the actuarial analysis, reviewing the pricing model used to measure profitability of the transaction, both, the mechanics and outputs

• Participating in market research and product development.  This includes researching industry topics and changes in specific segments of the industry, using general knowledge/technical skills to assess impact of these changes going forward, participating in developing new products or business strategies to respond to these changes.  You will also be responsible for preparing periodic written reports or oral presentations for senior management or board members regarding research project status

• Participating in deal meetings along with underwriters and other members of staff to determine the acceptability of transactions

Requirements Experience:

• Bachelor's degree in Mathematics, Statistics, Finance, Economics or Insurance

• ACAS or FCAS designation (or equivalent) required

• Minimum of 8+ years of commercial multi-line pricing experience e.g. general liability, employer’s liability, workers’ comp, professional liability (eg Solictitor’s PI, Medical Malpractice, EO), umbrella, etc.; Reinsurance pricing experience a plus

• Strong analytical, attention to details, problem-solving and multi-tasking skills

• Must work well independently and under tight deadlines

• Experience working with underwriters, brokers and claims people a plus

• Good communication skills

• Advanced knowledge of Microsoft Excel required

• Must be comfortable working in a small team environment

• Knowledge of one of the major European markets: UK, France, Germany, Spain, Italy

Compensation Package:

• Base of €150,000 - €180,000

• Target underwriting bonus: 30-50% of base

o    30% of the u/w bonus is qualitative; based on goals and objectives

o    70% of the u/w bonus is quantitative; paid in cash in 3 instalments; based on an ROE target of 0-17.5%

•   ROE = or less than zero means no bonus

•   More than 10% ROE will imply a 5% uplift to target u/w bonus

• Shares: 40-60% of base; they “cliff vest” over 36 months

Interested applicants should contact Michael Stefan at michael.stefan@hanoversearch.com or Rory O'Hegarty at rory.ohegarty@hanoversearch.com or alternatively call 0207 248 2244.