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A well-established and growing Lloyd's Syndicate Insurance firm is looking for a Capital Modelling Actuary. In this role, you will lead a team responsible for managing and operating the capital model, ensuring it complies with both regulatory and internal stakeholder needs. You will also work closely with the Head of Capital to support the Board and senior management on matters related to capital requirements and the strategic use of the capital model. Additionally, you'll oversee the data sets and processes required for the model's efficient operation.
The role requires actuarial expertise equivalent to that of a UK FIA-qualified actuary, along with strong IT skills. Proficiency in WTW Igloo is essential, as the model is built on this platform, and coding skills in Excel VBA and R are advantageous. A solid understanding of General Insurance is required. Familiarity with regulatory frameworks, including Lloyds, PRA, and Solvency II requirements, is also important.
THE ROLE: Senior Actuary Capital Modelling
Maintain comprehensive records of all work to enable validators and other reviewers to effectively assess and evaluate it, while providing key support to the validator. Consistently uphold and reflect the company's values in all daily activities, ensuring that interactions and tasks are carried out with the utmost ethical and professional standards, and that all work is completed to a high quality in alignment with the company's principles. Additionally, be prepared to take on any other reasonable tasks as directed by line management.
Responsible for all aspects of running the capital model your duties will include.
Collecting and testing data for the model
Running and maintaining calibration tools
Updating the internal model with new data and parameters, running it, and performing quality checks on the outputs
Taking a lead role in solving issues related to model changes and running tests on the model
Ensuring processes around the internal model are well maintained and function efficiently
Implementing strong version control for the model
Testing model outputs, including investigating issues and updating model code as needed
Keeping high-quality documentation of the model and its processes
Running and documenting the model for regulatory submissions, such as LCR, IMO Return, and ORSA
Collaborating with internal stakeholders, including the Finance team, Underwriting, and Risk
Working under tight deadlines to produce accurate results
SKILLS / EXPERIENCE REQUIRED: Senior Actuary Capital Modelling
Actuarial expertise at the level of a UK FIA-qualified actuary, along with strong IT skills
Proficiency in WTW Igloo is essential as the model is built on this platform
Coding skills in Excel VBA and R is preferred
Knowledge of General Insurance, with a preference for experience in Motor classes and insurance data management
Familiarity with regulatory frameworks, including Lloyds, PRA, and Solvency II requirements
Strong written and verbal communication skills, with the ability to explain complex concepts to those with some knowledge of the subject
