At a Glance
- Tasks: Lead capital modelling and risk analysis for a top insurance group.
- Company: Chaucer, a leading insurance group at Lloyd’s.
- Benefits: Flexible working arrangements, diverse culture, and opportunities for growth.
- Other info: Join a dynamic team committed to diversity and innovation.
- Why this job: Make a real impact in the insurance industry while developing your skills.
- Qualifications: Qualified actuary with experience in capital modelling and project management.
The predicted salary is between 63000 - 77000 £ per year.
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; in particular - ensure the ongoing compliance of the Calculation Kernel with relevant Solvency UK Standards;
- 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 (e. g. investment strategy, underwriting portfolio mix, outwards reinsurance strategy, new classes of business, M&A)
- Work closely with Outwards Reinsurance Team to model, assess and communicate impact of alternative structures, and provide portfolio insights to aid purchase strategy and optimisation
- Manage delivery of earnings volatility and risk appetite assessments
- Manage capital allocation process, including communication of output to end users
- Manage capital model analyses for ad-hoc and strategic Group initiatives
- Manage the development and maintenance of controls over all key capital modelling processes;
- 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; and
- 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
- Relevant experience
Essential
- General Insurance Actuarial
- Lloyd’s of London
- Capital modelling
- 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)
Desirable
- Overseen production of Lloyd’s SCRs
- Interaction with regulators
- Portfolio optimisation
- Strategic model use
- Technical skills
Essential
- Good knowledge of Word, Excel and Powerpoint
- Good knowledge of Igloo or equivalent model software
- Understanding of the Solvency UK framework
Desirable
- Igloo expert
- Technical competence with one or more programming languages (e. g. SQL, Python)
Education & Experience
Essential
- Qualified actuary
Desirable
- Statistical qualifications
- Enterprise Risk Management / CERA examination pass or equivalent
- Personal skills
- Management aptitude
- Analytical skills
- Enjoys complex problems
- Ability to work in a team
- Ability to take and provide constructive challenge
- Able to work flexibly and adapt to changing conditions and priorities
- Hard working and committed to producing high quality output
- Able to liaise with staff at all levels
- Self-motivated and self-starter
- Excellent verbal and written communication skills
- Other Responsibilities
- Participation in agency working groups and committees as required
ABOUT US
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.
Our headquarters are in London, and we have international offices in Bermuda, Copenhagen, Dubai and Singapore to be closer to our clients across the world.
To learn more about us please visit our website.
Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics which are outlined in the Equality Act 2010 (UK legislation) as a result of the Equal Treatment Directive 2006 (EU legislation).
A diverse workforce and an inclusive workplace are core to our success as a business and integral to our winning strategy and culture.
We recruit from the widest available pool of talent, and our hiring, assessment and selection process is fair, free from bias and one which ensures we select the right person for the job, based on merit.
We are committed to promoting a culture that actively values difference, and recognises that everyone has the right to be treated with dignity and respect throughout their employment.
We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process.
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Capital Modelling Manager employer: Chaucer
Chaucer is an exceptional employer located in the heart of London, offering a dynamic work environment that values diversity and promotes flexible working arrangements. As a leader in the insurance market, we provide our employees with ample opportunities for professional growth and development, ensuring that you can thrive in your career while making a meaningful impact in compliance monitoring.
StudySmarter Expert Advice🤫
We think this is how you could land Capital Modelling Manager
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
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We think you need these skills to ace Capital Modelling Manager
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.
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.
Research and Reflect:Before hitting that 'apply' button on Chaucer's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Chaucer
✨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.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Chaucer 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 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.
