Daniel Souviron

- Quarterly and annual calculation of Best Estimate Liability (BEL) and Solvency Capital Requirement (SCR) for the three clients I worked for simultaneously (non-life insurance companies), under the Solvency II Standard Formula, based on the GAAP management accounts received from accountants every period

- Developed a stand-alone model to calculate the BEL and also to generate figures for various QRTs (Quantitative Reporting Templates), including future cash flows for each underwriting year

- Integrated PPO (Periodical Payment Order) cash flows into the technical provisions calculation under Solvency II by developing the stand-alone model

- Integrated that model with the capital application used by the firm to calculate the SCR

- Integrated (and automated) the generation of QRTs into the BEL and SCR workflow

- Developed reconciliation of balance sheet and own funds between Management Accounts and Solvency II, ensuring full traceability of all movements

- Created visualisations to present results to clients (e.g., waterfall charts illustrating the bridging from GAAP to Solvency II Technical Provisions)

- Significantly improved the quality and efficiency of the BEL and SCR calculation process (including QRT reporting) for the three clients I worked for simultaneously. This provided better insights into changes in their Solvency Ratios, enabled timely and accurate responses to multiple external auditors' enquiries, and contributed to continued engagement and feedback ratings of 9/10 or 10/10

- Conducted scenario analyses to optimise investments and capital allocation, reducing Solvency Capital Requirements.

- Performed projections and stress tests for the Own Risk and Solvency Assessment (ORSA) using the firm's capital tool

- Validated and ensured consistency of GAAP projections generated by the firm's tool (based on assumptions like premium written and loss ratios) through independent Excel-based projections

- Contributed to the Actuarial Function Reports

- Resumed full-time preparation for the open competitive exams to join the Spanish insurance regulatory authority

- Over time, I reassessed my career priorities and ultimately decided to pivot towards opportunities where I could apply my expertise more effectively

- Despite finding the extensive Law modules particularly challenging, I strengthened my knowledge of accounting principles, through multiple exercises where I continued to improve at identifying movements between accounts, and also kept improving my analytical and problem solving skills throughout multiple exercises of financial mathematics

- Solunion is a joint venture between MAPFRE and Euler Hermes, specialising in credit insurance and surety

- Fixed-term contract, where I was in charge of the implementation of claims reserves processes into the company's newly acquired tool, ResQ (WTW), ensuring effective integration of the tool and maintaining data consistency

- The company conducted a parallel claims reserving process for some months, separately calculating the ultimate cost of claims in both Excel and ResQ before fully transitioning to ResQ for reserving

- During this process, I periodically identified and reconciled any discrepancies between the triangles generated in ResQ after loading new claims data and those produced in Excel (e.g., discrepancies due to manual adjustments in the Excel triangles)

- Identified the need to project the ultimate cost of claims by UW year instead of by year of occurrence, analysed whether the negative IBNR found was reasonable, and carried out other related assessments

- Developed a VBA macro to replicate in Excel the (automatic) selection of development factors used by ResQ in link ratio methods, based on the data within the triangles (e.g., mirroring ResQ's approach of excluding factors with divisions by zero)

- Trained the team in data reconciliation, loading databases into ResQ, methods for calculating the ultimate cost of claims, and the overall use of ResQ. This also included generating Excel reports linked to ResQ results, enabling automatic data extraction from ResQ into the reports

- Additionally, developed VBA macros to automatically transfer claims triangles from Excel to ResQ

- Drafted the document required by the regulator (DGSFP) on the methodology used to calculate technical provisions under Solvency II

- Prepared a detailed report for the regulator (DGSFP) on the calculation of technical provisions under GAAP, in collaboration with AFI (Analistas Financieros Internacionales)