Chaucer
Insurance
CapitalModellingActuary
“Capital Modelling Actuary at Chaucer. Skills: Capital modelling, Risk analysis, Regulatory capital requirements, Economic capital requirements, Internal model development and validation, Stochastic modelling, Solvency II, Lloyd's framework. Provide risk and capital analysis (regulatory and economic) for Chaucer’s managed Lloyd’s syndicates.. Delivery of the syndicate SCR, taking responsibility for specific areas of the internal model, producing and validating model outputs.”
Industry & Context.
Analytical; Assist in the assessment, escalation and actioning of limitations in capital modelling methodologies, processes and.
What They're Looking For.
Must Have
General Insurance Actuarial, Working in a Capital, Pricing or Reserving role, Parameterisation of stochastic underwriting or reserving risk, Advanced user of Word, Excel and PowerPoint, Computer programming (VBA, SQL, Python and / or other languages), data manipulation ability, Proactive approach to continuous improvement, with a focus on enhancing processes, automation, and modelling methodologies, Qualified or near-qualified actuary (IFoA)
Nice to Have
Stochastic modelling of insurance and other risks, Formal experience of managing people and complex projects, Presenting to and communicating with senior stakeholders (written and verbal), Igloo coding (or equivalent modelling software), Understanding of the Solvency II / UK / Lloyd’s framework, Statistical qualifications, Enterprise Risk Management / CERA examination pass or equivalent
What You'll Do.
Provide risk and capital analysis (regulatory and economic) for Chaucer’s managed Lloyd’s syndicates., Delivery of the syndicate SCR, taking responsibility for specific areas of the internal model, producing and validating model outputs., Involved in model and MI development as well as use of the capital model throughout the business., Assist in the production and delivery of regulatory and economic capital requirements (SCR / ECA / Standard Formula) for all Chaucer managed., Run capital models to understand capital implications of business decisions., Produce and develop management information for the interpretation and presentation of modelled results to various groups within Chaucer, including Risk and Model Working Groups and ad-hoc forums with senior management as required., Assist in the ongoing development (incl.
Igloo coding) and parameterisation of the Internal Model whether as a result of issues raised internally, or by regulators / (independent) validators, or as a result of changes in risk profile / industry best., Support validation of model., Assist in the assessment, escalation and actioning of limitations in capital modelling methodologies, processes and., Assist in the maintenance of Internal Model documentation in line with Solvency II / UK tests and., Adhere to controls over all key capital modelling processes., Assist in the ongoing compliance of the Internal Model with relevant Solvency II / UK standards, UK and international regulations, and professional guidance, including maintenance of documentation and adherence to controls., Assist the Head of Capital Modelling on the liaison with Lloyd’s and the PRA regarding technical elements of SCRs and the., Assist the Risk function in the production of the ORSA, including analysis of risk aggregations and changes in risk profile, as well as stress and scenario., Work closely with the Risk function and the business to advise on the integrated use of the Internal Model in risk management processes across the Group, including the adequacy and efficacy of risk mitigation techniques and advising the business on the optimisation of financial risk profile based on capital efficacy and risk-reward relationships (e.
investment strategy, business portfolio mix, new classes of business, divestments).
How You'll Work.
Team & Collaboration
Opportunities to liaise and form close working relationships with the wider business.; Communication and presentation of analysis and results to key internal (incl. senior management) and external stakeholders (incl. the parent company and regulator).; Work closely with the Risk function and the business to advise on the integrated use of the Internal Model in risk management processes across the Group.
Communication Scope
Communication and presentation of analysis and results to key internal (incl. senior management) and external stakeholders (incl. the parent company and regulator).; Presenting to and communicating with senior stakeholders (written and verbal); Good verbal and written communication skills; Able to liaise with staff at different levels of seniority and in different teams
Process & Methodology
Aptitude for managing and delivering complex projects, Formal experience of managing people and complex projects
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