Capital Modelling Actuary in London

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.

Chaucer is committed to diversity, actively values difference and respects people irrespective of the protected characteristics outlined in the Equality Act 2010.