About us
Since Aspen was founded in 2002, we have become a leading, diversified specialty insurance and reinsurance company. We respond thoughtfully and creatively to find the best outcomes for our clients and business partners through carefully-tailored solutions.
We believe the way we work is just as important as the work we do, and we are guided by our core values of respect, honesty, trust and professionalism.
Aspen is a great place to develop your career offering an exciting and challenging environment where achievement is rewarded.
The role
To support the Group Head of Capital Modelling in management of the Aspen Capital Modelling Team. Responsibilities include:
- Supervising and leading commercial and regulatory activities encompassing the design, development, implementation, maintenance, and use of the Aspen Economic Capital Model (ECM)
- Providing technical and commercial leadership for ECM projects, coordination of stakeholder requirements, and communicating ECM results and analysis with key individuals and groups across Aspen
- Providing oversight, support and mentoring to ECM team members
Our Aspen Values are expected to be reflected in the delivery and performance of every role.
Key accountabilities
Environmental Awareness/Customer Focus Strategy and Planning
- Supervising and leading ECM activity across commercial applications including the entity-level business planning and reforecasting processes, optimisation of internal and external reinsurance, and capital implications of strategic projects
- Supporting the Group Head of Capital Modelling in oversight and execution of internal and external ECM reporting requirements and other ECM activity relating to Aspen’s operating entities and its regulators, including the PRA, Lloyd’s of London, and the BMA as well as rating agencies
Policy, Process and Procedures
- Overseeing responses to independent validation feedback and regulatory requests; coordinating and prioritising activity alongside model development and other projects.
- Promoting the team’s compliance with the ECM’s operational control processes and other processes deriving from Internal Model policies (e.g. model change, documentation etc.) and proactively seeking to improve existing controls and processes that currently exist
Environmental Awareness/Customer Focus
- Providing effective and pro-active communication of capital model results and analysis to key stakeholders, Committees and Boards across the Aspen group, including explanation of movements in capital arising from changes to the underlying risk profile of the firm, or from changes to the model’s methodologies, assumptions, or parameters
- Overseeing the production of analysis and commentary to support internal risk reporting to Aspen’s committees and boards and the use of ECM output by other stakeholders within Aspen
- Developing technical solutions in response to stakeholder requests and enhancing inter-team processes across Aspen to enhance risk-based decision making
Technical Performance
- Lead the modelling activity across multiple risk categories, including timetabling, analysis and review and data processing / reconciliation / diagnostics
- Active prioritisation of team resourcing and management of potential conflicts in timelines or project plans
- Assisting with the development, maintenance and regular update of the ECM including development of methodologies and model coding, parameter reviews and exposure analysis to ensure the ongoing appropriateness and robustness of the Aspen ECM
Skills & experience
Knowledge And Experience
- Understanding of key Capital Modelling concepts and techniques across all risk categories: Underwriting Risk (catastrophe and non-catastrophe), Reserve Risk, Market Risk, Credit Risk, Operational Risk
- Understanding of Solvency II, Lloyd’s Minimum Standards, or equivalent regulatory regimes
- Understanding of Bermuda and US regulatory regimes and Rating Agency approaches
- Graduate with a 1st or Upper 2nd (2:1) degree from a top-tier university, in a subject involving a high level of numerical or quantitative content
- Qualified Actuary
- At least 5 years of experience of actuarial work in the non-life insurance sector (ideally gained within a consultancy or London Market organisation)
Other
We're committed to making Aspen a great place to work, where you're rewarded and recognised for your efforts. As well as your pay and discretionary performance related bonus, you'll also enjoy a huge range of benefits. There are plenty of options available with our exciting benefits package, designed for your health, your family and to help ensure that you enjoy the most from your lifestyle.
Senior Capital Modelling Actuary in London employer: Aspen Insurance
Aspen is an exceptional employer that fosters a dynamic and inclusive work environment, where respect, honesty, trust, and professionalism are at the core of our values. As an Actuary in our UK Actuarial Function, you will have the opportunity to engage in meaningful projects, develop your skills, and collaborate with talented colleagues while being rewarded for your achievements. Our commitment to employee growth and a supportive culture makes Aspen a fantastic place to advance your career in the insurance industry.
