Towards the Optimal Reserving Working Party – members

Application closing date: 26 July 

The IFoA is seeking to appoint both members and suitably experienced non-members to join the Towards the Optimal Reserving Working Party.

We are keen to hear from those practicing in general insurance with detailed reserving experience (preferably relating to a number of organisations).  

The successful volunteers will have the opportunity to influence the scope of the working party’s future output and direction of travel.

About the working party 

The Towards the Optimal Reserving Process Working Party is a long-standing research group established by the IFoA in 2012. The group brings together actuaries from diverse industry and consulting backgrounds to focus on the governance, design, and efficiency of general insurance reserving processes.

It is overseen by the General Insurance Reserving Reporting Group (GIROC).

Our objectives

• Investigating common practice: Analysing how reserving processes are handled across the industry and sharing insights with practitioners.
• Addressing challenges: Identifying common issues within the ‘typical’ reserving process and providing practical improvements.
• Adapting to emerging trends: Exploring the impact of AI, data analytics, machine learning, and regulatory changes (for example, IFRS 17) to optimise workflows.
• Promoting best practice: Assisting actuaries in re-engineering reserving processes to be more efficient, encompassing better documentation, housekeeping, and stakeholder communication.
• Other topical issues and challenges in reserving.

Explore work examples on the VLE

Time commitment

Members of this working party are expected to devote 2 to 4 hours per month to further its research. This includes participation at a monthly meeting, which will be by conference call to allow us to widen this opportunity to all members. Calls will be arranged at a mutually convenient time for all involved.

Next steps

If you are interested in this role and would like an informal conversation before applying, please email us at engagement.team@actuaries.org.uk.

If you have read all the above and would like to apply, please send us:

• brief details of your relevant experience
• your reasons for wishing to get involved
• your ARN (if you are a member)
• a brief copy of your CV and full contact details (if you are a non-member)
• confirmation that you have read, understood, and agree to the information and requirements laid out in our volunteer information pack (please be aware that until we have received this confirmation, we will not be able to appoint you as a volunteer)

Please email all the above to engagement.team@actuaries.org.uk. Please note, we are unable to accept late applications.

We are committed to promoting diversity, equality of opportunity, and inclusion, within all our vacancies and we actively encourage applications from a diverse range of potential candidates. Recognising and embracing the unique and diverse talents of our volunteers is fundamental to the success of our organisation.

What you need to know

Volunteering provides you with a wide range of opportunities. With all rights and opportunities come responsibilities and we ask all our volunteers to comply with the terms of the IFoA’s governance manual and volunteer information pack. Before offering to provide support, please read through: what you need to know.