Reserving actuary
| Highest | $8,050 / mo · Switzerland |
|---|---|
| Experience | 2–4 yrs |
| Degree | Required |
| First paycheck | 3-4 years bachelor's study; paid from Day 1 as a trainee analyst |
Pay in the destination countries
Monthly, in US dollars. Each country is an Imora admission package — open one for that route's fees, language requirement and deadline.
| Country | Monthly |
|---|---|
| SwitzerlandIELTS 6.5 · CHF 0.9–8k | $8,050max |
| Hong KongIELTS 6.0–6.5 · HK–200k | $7,000 |
| SingaporeIELTS 6.5 · SGD 18–35k | $7,000 |
| United KingdomIELTS 6.0–7.0 · £11–38k | $7,000 |
| United StatesTOEFL 80–100 · $10–70k | $6,850 |
| NorwayIELTS 6.0–6.5 · NOK 130–260k | $6,700 |
What does the day look like?
A reserving actuary calculates how much money an insurance company must hold to pay claims that have occurred but are not yet reported (IBNR) or not fully settled (IBNER). Daily tasks include compiling loss triangles by accident year and development quarter, projecting ultimate losses using Chain Ladder, Bornhuetter-Ferguson (BF), Cape Cod, and Mack methods, and calculating Best Estimate Liabilities (BEL) and Risk Margin under Solvency II, or PVFCF and Risk Adjustment under IFRS 17. Core tools include ResQ (WTW), Arius (Milliman), Mo.net, Microsoft Excel with VBA macros, Python (pandas, numpy, chainladder-python), R (ChainLadder), and SQL (Oracle, Snowflake, Microsoft SQL Server).
Around 15% of the day involves pure statistical theory. A major 55% is spent cleaning data, extracting SQL queries, reconciling claims against general ledgers, and debugging Excel or ResQ pipeline errors. The remaining 30% goes to business communication, preparing slides for reserve committees, explaining model variances to auditors, and completing Solvency II QRT or SAP / Tagetik IFRS 17 reporting templates. Standard hours are 40 hours per week, rising to 50 to 60 hours per week during quarterly and year-end reporting peaks in January-February and July-August. There are no night shifts, manual labour, or on-call duties.
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