At a Glance
- Tasks: Conduct risk and capital analysis for Lloyd’s syndicates and develop internal models.
- Company: Join Chaucer, a leader in the insurance industry with a commitment to diversity.
- Benefits: Competitive salary, professional development, and a dynamic work environment.
- Other info: Opportunity for career growth in a fast-paced, evolving environment.
- Why this job: Make a real impact in risk management while working with senior stakeholders.
- Qualifications: Qualified or near-qualified actuary with general insurance experience.
The predicted salary is between 55000 - 70000 £ per year.
Provide risk and capital analysis (regulatory and economic) for Chaucer’s managed Lloyd’s syndicates. Deliver the syndicate SCR, take responsibility for specific areas of the internal model, produce and validate model outputs. Involved in model and MI development as well as use of the capital model throughout the business. Communicate and present analysis and results to key internal (incl. senior management) and external stakeholders (incl. the parent company and regulator).
Responsibilities
- 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.
- Assist in the ongoing development (incl. Igloo coding) and parameterisation of the Internal Model as a result of internal issues, regulator or validator requirements, or 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.
- Assist the Head of Capital Modelling on 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, changes in risk profile, and 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.
- Advise the business on the optimisation of the financial risk profile based on capital efficacy and risk‑reward relationships, including investment strategy, business portfolio mix, new classes of business and divestments.
Essential Experience
- General Insurance Actuarial experience in a Capital, Pricing or Reserving role.
- Parameterisation of stochastic underwriting or reserving risk.
- Formal experience of managing people and complex projects.
- Presenting to and communicating with senior stakeholders (written and verbal).
Desirable Experience
- Stochastic modelling of insurance and other risks.
- 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.
Essential Skills
- 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 Skills
- Igloo coding (or equivalent modelling software).
- Understanding of the Solvency II / UK / Lloyd’s framework.
Education & Experience
- Qualified or near‑qualified actuary (IFoA).
- 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.
- Ability to liaise with staff at different levels of seniority and in different teams.
- Self‑motivated and proactive.
- Good verbal and written communication skills.
Equal Opportunity
Chaucer is committed to diversity, actively values difference and respects people irrespective of the protected characteristics outlined in the Equality Act 2010.
Capital Modelling Actuary employer: Chaucer Underwriting Services Limited
Chaucer is an exceptional employer that fosters a collaborative and innovative work culture, particularly for the Capital Modelling Actuary role. With a strong commitment to employee development, we offer opportunities for professional growth through continuous learning and engagement with senior management and key stakeholders. Located in a dynamic environment, our team thrives on tackling complex challenges while adhering to industry best practices, making it a rewarding place for actuaries to advance their careers.
Contact Details:
Chaucer Underwriting Services Limited Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Capital Modelling Actuary
✨Tip Number 1
Network like a pro! Reach out to your connections in the insurance and actuarial fields. Attend industry events or webinars, and don’t be shy about introducing yourself to potential employers. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Prepare for interviews by practising common questions related to capital modelling and risk analysis. We recommend doing mock interviews with friends or mentors to build your confidence. Remember, it’s all about showcasing your skills and how you can add value to the team!
✨Tip Number 3
Showcase your technical skills! If you’ve got experience with Igloo coding, VBA, or Python, make sure to highlight that in conversations. Bring examples of your work to interviews to demonstrate your capabilities and how you can contribute to the internal model development.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive and engaged with our company. So, get your application in and let’s get the conversation started!
We think you need these skills to ace Capital Modelling Actuary
Some tips for your application 🫡
Tailor Your CV:Make sure your CV reflects the skills and experiences that match the Capital Modelling Actuary role. Highlight your general insurance actuarial experience and any relevant projects you've managed. We want to see how you can bring value to our team!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about capital modelling and how your background aligns with our needs. Don’t forget to mention your experience with stakeholders and any technical skills that stand out.
Showcase Your Technical Skills:We love seeing candidates who are proficient in tools like VBA, SQL, and Python. Make sure to include specific examples of how you've used these skills in your previous roles. This will help us understand your technical prowess and how you can contribute to our modelling processes.
Apply Through Our Website:We encourage you to apply directly through our website for the best chance of getting noticed. It’s super easy and ensures your application goes straight to our hiring team. Plus, we love seeing candidates who take the initiative!
How to prepare for a job interview at Chaucer Underwriting Services Limited
✨Know Your Numbers
As a Capital Modelling Actuary, you'll be dealing with complex data and models. Brush up on your understanding of regulatory and economic capital requirements, especially SCR and ECA. Be ready to discuss how you've applied these concepts in previous roles.
✨Showcase Your Communication Skills
You'll need to present analysis to senior management and external stakeholders. Prepare examples of how you've effectively communicated complex information in the past. Practise explaining technical concepts in simple terms to demonstrate your ability to engage with diverse audiences.
✨Demonstrate Your Technical Proficiency
Familiarise yourself with the tools and programming languages mentioned in the job description, like VBA, SQL, and Python. Be prepared to discuss any relevant projects where you've used these skills, particularly in capital modelling or risk assessment.
✨Emphasise Your Teamwork and Adaptability
This role requires collaboration across various teams. Share experiences that highlight your ability to work in dynamic environments and adapt to changing priorities. Show that you're not just a numbers person but also a team player who can contribute to a positive work culture.
