At a Glance
- Tasks: Lead risk and capital analysis for insurance syndicates and manage capital modelling processes.
- Company: Join Chaucer, a top insurance group at Lloyd's with a global presence.
- Benefits: Competitive salary, career development, and opportunities to work internationally.
- Other info: Dynamic team environment with opportunities for growth and mentorship.
- Why this job: Make a real impact in the insurance industry while developing your skills.
- Qualifications: Experience in general insurance, project management, and strong communication skills.
The predicted salary is between 66150 - 80850 £ per year.
Chaucer is a leading insurance group at Lloyd's, the world's specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups. Headquartered in London, with international hubs in Copenhagen, Dubai, Miami, Dublin, Singapore, Sydney and Bermuda, to be closer to our clients across the world.
Job Profile Summary
Co-ordination and provision of risk and capital analysis (regulatory and economic) for Chaucer’s managed syndicates and support for capital related work on other Chaucer entities. Manage the development of the capital model and support the Head of Capital Modelling in integrating the capital model with effective risk management. Communication and presentation of analysis and results to key internal (incl. senior management) and external stakeholders (incl. the parent company and regulator).
Job Description
- Manage the operation of processes to produce and deliver the regulatory and economic capital requirements (SCR / EC / Standard Formula) for all Chaucer managed syndicates;
- Support the Head of Capital Modelling in presenting and communicating modelled results and analysis to various stakeholders, including Boards, Committees, third party syndicates and capital providers;
- Manage parameterisation processes in line with issues raised by regulators, the validation process, business changes and industry best practice;
- Manage the assessment, escalation and actioning of limitations in capital modelling methodologies, processes and results;
- Manage the maintenance of Internal Model documentation in line with required tests and standards;
- Support in the validation of model outputs;
- Support the Head of Capital Modelling to ensure all capital modelling work is consistent with UK and international regulations and professional guidance;
- Manage the capital model use framework for Chaucer and further embed use in decision making and risk assessment processes across the Group;
- Liaise with senior management and key stakeholders to align model use to their needs through collaboration, education and providing insight;
- Ensure consistency in application of risk assessment across all uses and decision making;
- Support the optimisation of financial risk profile based on capital efficacy and risk-reward relationships;
- Support 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 testing;
- Support the Head of Capital Modelling on the liaison with Lloyd’s and the PRA regarding technical elements of SCRs, or the ORSA;
- Develop, manage and coach capital modelling team members so that they have appropriate opportunities and skills to perform their respective duties.
Our requirements
- General Insurance Actuarial
- Lloyd’s of London
- Stochastic modelling of insurance and other risks
- Experience of managing projects / others and being personally accountable for delivery
- Presenting to and communicating with senior stakeholders (written and verbal)
- Overseen production of Lloyd’s SCRs
- Interaction with regulators
Technical skills
- Good knowledge of Word, Excel and PowerPoint
- Good knowledge of Igloo or equivalent model software
- Understanding of the Solvency UK framework
- Technical competence with one or more programming languages (e.g. SQL, Python)
Capital Modelling Manager employer: Chaucer Group
Chaucer is an exceptional employer, offering a dynamic work environment in the heart of London, where innovation and strategic thinking are at the forefront of our operations. We prioritise employee growth through mentorship and development opportunities within our Transport Logistics team, fostering a culture of collaboration and excellence. With a commitment to maintaining strong relationships with clients and brokers globally, we provide our employees with unique exposure to diverse markets and the chance to lead in a specialist insurance sector.
