At a Glance
- Tasks: Analyse risk and capital for Lloyd’s syndicates, delivering key model outputs.
- Company: Join Chaucer, a leading insurance group at Lloyd’s with a global presence.
- Benefits: Flexible working arrangements, diverse culture, and opportunities for professional growth.
- Other info: Dynamic environment with a focus on continuous improvement and teamwork.
- Why this job: Make an impact in the insurance industry while developing your analytical skills.
- Qualifications: Qualified or near-qualified actuary with experience in capital modelling.
The predicted salary is between 60000 - 80000 £ per year.
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. 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).
Main duties
- Assist in the production and delivery of regulatory and economic capital requirements (SCR / ECA / Standard Formula) for all Chaucer managed syndicates;
- Run capital models to understand capital implications of business decisions as required;
- 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 practice;
- Support validation of model outputs;
- Assist in the assessment, escalation and actioning of limitations in capital modelling methodologies, processes and results;
- Assist in the maintenance of Internal Model documentation in line with Solvency II / UK tests and standards;
- 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 ORSA;
- 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 testing;
- 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.g. investment strategy, business portfolio mix, new classes of business, divestments).
Our requirements
Relevant experience
- Essential
- General Insurance Actuarial
- Working in a Capital, Pricing or Reserving role
- Parameterisation of stochastic underwriting or reserving risk
- Desirable
- 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)
Skills
- Essential
- Advanced user of Word, Excel and PowerPoint
- Computer programming (VBA, SQL, Python and / or other languages)
- Strong data manipulation ability
- Proactive approach to continuous improvement, with a focus on enhancing processes, automation, and modelling methodologies
- Desirable
- Igloo coding (or equivalent modelling software)
- Understanding of the Solvency II / UK / Lloyd’s framework
Education & Experience
- Essential
- Qualified or near-qualified actuary (IFoA)
- Desirable
- Statistical qualifications
- Enterprise Risk Management / CERA examination pass or equivalent
Personal skills
- Comfortable working in a dynamic and evolving environment, with ability to adapt quickly to changing priorities.
- Aptitude for managing and delivering complex projects
- Analytical
- Hard working and committed to delivery of high-quality output
- Ability to work in a team
- Ability to follow instructions and provide constructive challenge
- Flexibility and adaptability
- Able to liaise with staff at different levels of seniority and in different teams
- Self-motivated and proactive
- Good verbal and written communication skills
London Capital Modelling Actuary employer: Chaucer Syndicates Ltd
Chaucer is an exceptional employer, offering a dynamic work environment in the heart of London where innovation and collaboration thrive. With a strong commitment to employee growth, we provide ample opportunities for professional development and a culture that values diversity and inclusion. Our focus on continuous improvement and support for flexible working arrangements makes Chaucer an attractive choice for those seeking meaningful and rewarding careers in the insurance sector.
StudySmarter Expert Advice🤫
We think this is how you could land London Capital Modelling Actuary
✨Tap into Campus Networks
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We think you need these skills to ace London Capital Modelling Actuary
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Chaucer Syndicates Ltd.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
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How to prepare for a job interview at Chaucer Syndicates Ltd
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Chaucer Syndicates Ltd.
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✨Show Your Passion for Finance
Since this is a full-time position, employers at Chaucer Syndicates Ltd will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Chaucer Syndicates Ltd employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
